Galaxy Digital CEO ‘wouldn’t be surprised’ if Bitcoin hit $30K this quarter

Galaxy Digital Holdings CEO, Mike Novogratz, believes there's a accidental Bitcoin (BTC) could instrumentality to $30,000 oregon supra earlier the extremity of March.

According to a Feb. 15 Bloomberg report Novogratz spoke astatine a Bank of America league the aforesaid time and said helium would’ve been the “happiest guy” if 2022 ended with BTC astatine $30,000, but added:

“When I look astatine the terms action, erstwhile I look astatine the excitement of the customers calling, the FOMO gathering up, it wouldn’t astonishment maine if we were astatine $30,000 by the extremity of the quarter.”

The prediction is overmuch little than others Novogratz has made successful the past. The Galaxy CEO erstwhile believed Bitcoin could scope $500,000 by the extremity of 2027 if the United States Federal Reserve kept hiking involvement rates.

— Cointelegraph (@Cointelegraph) February 15, 2023

During Wednesday’s conference, Novogratz again made notation of complaint hikes by Fed chair, Jerome Powell, who announced an involvement complaint hike of 25 ground points connected Feb. 1. Novogratz said helium didn’t expect the fed to alteration its tune anytime soon:

“What makes maine skeptical that we tin person the explosive, back-to-the-old highs this twelvemonth is Chairman Powell. He’s truly doing what helium says he’s going to do, and I don’t spot the Fed pivoting and cutting anytime soon.”

Alongside the Fed’s February complaint hike, Powell indicated ostentation successful the U.S. had begun to slow, which saw Bitcoin soon spike supra $24,000 earlier declining beneath $22,000.

Related: US lawmakers reintroduce measure to region roadblocks for crypto investments successful status accounts

Following expected U.S. Consumer Price Index (CPI) January figures connected Feb. 14, Bitcoin gained astir 12% successful the past 24 hours and deed implicit $24,700 — its highest level since mid-August 2022 according to Cointelegraph data.

Sentiment towards crypto besides appears healthy, with the Crypto Fear and Greed scale climbing 9 points to 62 retired of 100, moving the standard from “neutral” into “greed” territory.

A one-year illustration of the Fear and Greed Index shows its past highest ranking was a people of 60 connected Mar. 28, 2022. Source: Alternative

The scale hasn’t been supra a people of 60 since mid-November 2021, earlier the terms clang that kicked disconnected the 2022 crypto winter.

Bitcoin volition inactive request to summation astir different 22% by Mar. 31 to scope Novogratz's predicted price.