Michael Novogratz, founder and CEO of Galaxy Digital, one of the market's important Bitcoin advocates, maintains his belief that Bitcoin can rise to 100 thousand dollars by the end of the year.
In his last statement, Novogratz listed the positive criteria that could move Bitcoin to the 100 thousand dollar band. According to Galaxy CEO, a more positive political environment for crypto assets has begun to emerge in the USA recently. This is considered an important criterion that can take Bitcoin to new record levels.
While evaluating Bitcoin performance from a technical perspective, Novogratz predicts that if BTC reaches $ 73,000 in the next few weeks, it can finish the year at a price level of $ 100,000 or more.
Bitcoin remains 4% away from record high
Bitcoin began to fluctuate after setting an all-time high of $73,777 in March. Cryptocurrency, which fell to $ 56,550 in April, quickly recovered with the purchases from this point and turned its direction upward again.
On the other hand, Michael Novogratz said that sentiment has shifted positively in favor of crypto assets in the last few weeks. Examples of this were the SEC giving the green light to spot ETH ETFs, candidates making pro-crypto comments before the US elections, and the crypto bill being on the agenda again.
Believing that crypto legislation in the USA has come to an end, Novogratz thinks that crypto regulations should be implemented with a bipartisan joint decision.
Bitcoin is at the $71,000 mark
Bitcoin, which has been rejected twice in the $ 70,000 range in the past two-week period, is testing the resistance zone once again this week. Finally, weak data on the US labor market increased the demand for crypto assets, and Bitcoin rose to $ 71,300.
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