Galaxy Digital CEO predicts bitcoin to rise to $30k in the I quarter

Galaxy Digital CEO Mike Novogratz, during his speech at the Bank of America event, expressed confidence that the bitcoin rally can continue until the end of IQ, and during this period, the coin can return to the $30 thousand mark.

Even though this prediction looks much more modest than the one that Novogratz made before, predicting the value of BTC at $500 thousand already by 2027, it is possible to note his positive mood and faith in the first cryptocurrency. Moreover, his position is confirmed by his recent acquisition. As a reminder, Galaxy Digital acquired a large mining facility Helios, which was forced to sell Argo Blockchain to cope with financial difficulties. At the time, Novogratz noted that the current crisis offers new opportunities.

I believe in BTC in the long term, and that crypto-winter is the perfect time to sign profitable contracts and buy mining equipment.

As for Mike Novogratz’s speech at the conference, the overall positive tone was somewhat overshadowed by the risks posed by Fed policy. In particular, the absence of the prospect of rate cuts.

Nevertheless, the market as a whole continues to grow in its belief in cryptocurrencies. The Fear and Greed Index for these assets rose to 62/100. The last time the 60-point mark was crossed was on March 28 last year.