LIVEBitcoin Price Prediction: Mike Novogratz Sees Consolidation Ahead ๐
Galaxy Digital CEO Mike Novogratz has shared his insights on Bitcoin's price trajectory for the next month. He predicts a consolidation phase, with Bitcoin trading between $55,000 and $75,000 until the end of the second quarter ๐.
According to Novogratz, the market is currently in a holding pattern, but this will change by the end of Q2. "Bitcoin, Ethereum, Solana, and everything else will consolidate... We'll probably stay between $55,000 and $75,000 until conditions change and market developments take us to the next level" ๐.
Despite decreased demand for spot Bitcoin ETFs in the US, Novogratz remains unfazed. "The big players are just starting to integrate this into their systems... The process of asset managers selling to their clients isn't something that happens overnight" ๐ผ.
Novogratz also believes the upcoming US presidential elections will bring clarity on cryptocurrency regulation. "The elections will provide clarity on how cryptocurrencies will be regulated" ๐ณ๏ธ.
Keep an eye on Bitcoin's price movements and market developments to see how Novogratz's predictions play out!
