Bitcoin could hit $30,000 by month-end, predicts CEO
Bitcoin could reach $30,000 by the end of the month
Mike Novogratz, CEO of Galaxy Digital, claims that the price of the oldest cryptocurrency could increase significantly in the next few months. According to his forecasts, by the end of this month, the BTC/USD rate may reach even USD 30,000. One of the reasons for this situation may be the softening of China's stance towards the cryptocurrency sector, which may in turn contribute to the increased interest of investors around the world.
The flight of investors from cryptocurrencies is over
Recent political developments in the digital currency sector in China show that subsidiaries of Chinese banks in Hong Kong are starting to offer their services to local cryptocurrency companies again. This is an extremely positive signal for the virtual asset market and can significantly contribute to the further increase in Bitcoin prices.
Mike Novogratz believes that all the cryptocurrency sales that were supposed to be made by investors during the bear market are now over, with many people saying goodbye to their virtual assets in the sale process. This will most likely lead to the fact that the digital currency market may grow significantly in the coming months.
At the same time, the American expressed his great disappointment with US regulators, which are constantly tightening the loop on the digital currency sector. Novogratz believes that such a policy is not good for the US's potential for leadership in this industry, with cryptocurrency investors going abroad, which ultimately contributes to the weakening of his country's position.
Regardless of what critics of this digital currency, such as economist Steve Hanke, think about Bitcoin, Mike Novogratz emphasizes that BTC's performance over the past two-three years has been safer than shares of companies such as JPMorgan Chase & Co or Google.
Mike Novogratz additionally believes that investing in BTC is not for fools, and in fact the opposite is true. This type of capital investment could be profitable for those who understand the potential of the oldest cryptocurrency and push its price to the region of $ 30,000 by the end of this month.