{"id":20780,"date":"2023-02-16T17:38:56","date_gmt":"2023-02-17T01:38:56","guid":{"rendered":"https:\/\/coinnetworknews.com\/mike-novogratz-says-bitcoin-could-return-to-30000-next-month-markets-and-prices-bitcoin-news\/"},"modified":"2023-02-16T17:38:56","modified_gmt":"2023-02-17T01:38:56","slug":"mike-novogratz-says-bitcoin-could-return-to-30000-next-month-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/mike-novogratz-says-bitcoin-could-return-to-30000-next-month-markets-and-prices-bitcoin-news\/","title":{"rendered":"Mike Novogratz Says Bitcoin Could Return to $30,000 Next Month \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"
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Galaxy Digital CEO Mike Novogratz says he wouldn\u2019t be surprised if the price of bitcoin returns to $30,000 next month. \u201cWhen I look at the price action, when I look at the excitement of the customers calling, the FOMO [fear of missing out] building up, it wouldn\u2019t surprise me,\u201d the executive shared.<\/strong><\/p>\n

Bitcoin Could Return to $30,000 in Q1, Says Novogratz<\/h2>\n

Galaxy Digital CEO Mike Novogratz shared his bitcoin price outlook Wednesday at a Bank of America conference. The longtime bitcoin advocate believes that BTC<\/a> could return to $30,000 by the end of next month. He said:<\/p>\n

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When I look at the price action, when I look at the excitement of the customers calling, the FOMO [fear of missing out] building up, it wouldn\u2019t surprise me if we were at $30,000 by the end of the quarter.<\/p>\n<\/blockquote>\n

\u201cI would\u2019ve given both my shoes for that to be true just six weeks ago,\u201d he added, noting that it would\u2019ve made him \u201cthe happiest guy\u201d if BTC<\/a> ended 2022 at $30,000.<\/p>\n

The Galaxy Digital CEO was previously more bullish about the price of bitcoin. He said in March last year that BTC<\/a> should be at $500,000<\/a> \u201cfive years out.\u201d However, he revised his forecast in December, stating that it would take more than five years for BTC<\/a> to reach that price level. He attributed his skepticism to Federal Reserve Chairman Jerome Powell\u2019s interest-rate increases.<\/p>\n

At the time of writing, bitcoin is trading at $24,567, up 8% in the past 24 hours and 16% over the last 30 days.<\/p>\n

The Galaxy Digital boss explained:<\/p>\n

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What makes me skeptical that we can have the explosive, back-to-the-old highs this year is Chairman Powell \u2026 He\u2019s really doing what he says he\u2019s going to do, and I don\u2019t see the Fed pivoting and cutting anytime soon.<\/p>\n<\/blockquote>\n

A number of people recently made bullish predictions about bitcoin. Rich Dad Poor Dad author Robert Kiyosaki<\/a> said he expects BTC<\/a> to hit $500,000 by 2025. Crypto-focused investment firm Pantera Capital said we are already in the next bitcoin bull market cycle<\/a>. Investment management firm Ark Invest said bitcoin could become a multitrillion-dollar market<\/a>, predicting that BTC<\/a> could reach $1.48 million per coin.<\/p>\n

What do you think about Galaxy Digital CEO Mike Novogratz\u2019s bitcoin price prediction? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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