- Galaxy Digital CEO Novogratz expects BTC to stabilize between $58,000 and $75,000
- National debt issue will make it easier to sell BTC for the next 4 years
Many crypto insiders and analysts have shared their short-term price predictions as follows: Bitcoin's [BTC] The half-life is approaching. For example, just recently Rich Dad Poor Dad author Robert Kiyosaki predicted that BTC could reach $100,000 by September. Similarly, BitGo CEO Mike Belshe is a conservative BTC price The goal is likely to reach $80,000 by May.
However, Mike Novogratz, CEO and founder of Galaxy Digital, doesn't completely agree. Instead, the executive said prices will stabilize between $58,000 and $75,000 in the near term before the next leg.
Monaka interviewargued Novogratz.
“Prices will remain stable for some time between $75,000 and $62,000 or even $58,000.”
BTC is “easy to sell” due to government bonds
In an earlier earnings call with Galaxy Digital investors, Novogratz said:baby boomer wealth” and the country's debt problems are factors that could induce additional demand for BTC.
He reiterated this in an interview with Bloomberg, emphasizing that the national debt crisis is making it easier to sell Bitcoin.
“Governments are adding $1 trillion to their debt every 100 days. This story is so powerful that salespeople and registered investment advisors are telling their clients to invest a few percent of their net worth in Bitcoin.” It makes it easier to do that.”
he added,
“And you're watching it happen. This is a process that lasts four years, not four months.”
In other words, Novogratz expects a period of serious accumulation to begin over the next four years.
At the time of writing, BTC appeared to have recovered after early Asian trading on March 28th. It was worth him just over $70,200.
The recovery followed a sharp drop from $71.7k to $68.35k after the US SEC gave the green light for the Coinbase lawsuit to proceed.
Zooming out on the weekly chart, BTC showed signs of consolidation above $58,000. Still, it is too early to see whether Novogratz's range-limited projection will be validated.
