Mike Novogratz Predicts $100,000 Bitcoin Price, Hints at Regulatory Clarity
Galaxy Digital CEO Mike Novogratz predicted a Bitcoin price of $100,000 by the end of the year. This prediction comes as the price surges above $70,000 as bulls attempt to reach a new all-time high following the approval of spot Bitcoin ETFs. In the view of most analysts and executives, crypto regulations in the United States are important for stimulating growth.
Mike Novogratz Points to $100,000 BTC Price
Soon Bloomberg In the interview, Mike Novogratz explained that if the price of the asset rises to $73,000 next week, it could rise to $100,000 by the end of the year. According to him, create market ranges and as the asset price reaches $70,000, it enters the $100,000 price range.
“… If we get to $73,000 next week, we’ll end the year at $100,000, somewhere around there, or even higher. Markets create gaps…”
The approval of spot Bitcoin ETFs this year has led to an increase in the price of the asset. As institutional investors’ appetite for Bitcoin increases, inflows into these funds reach $60 billion. As the bull run gains momentum, bulls are enjoying mass accumulation from institutions.
Additionally, recent events point to increasing adoption of the market leader and a positive macroeconomic outlook. In Novogratz, what was once a headwind is now a tailwind. The fact that institutional firms are increasing their Bitcoin exposure through ETFs is a positive indicator that more accumulation is taking place.
Crypto Regulation to Advance the Market
In recent weeks, crypto regulations have dominated industry spaces as executives seek rule clarity to bolster investment. Novogratz and other crypto executives praise the bipartisan support cryptocurrency has received FIT21 invoice. The bill, which aims to impose a regulatory tone, passed the House and now faces its fate in the US Senate.
However SAB 121 The decision, which was overturned by the Senate, was vetoed by joe Biden. This move sparked criticism from the crypto community among users looking at the Financial Innovation bill. Novogratz added that despite some obstacles, the market has achieved regulatory clarity.
Also read: Bitcoin (BTC) Price Reached $70,000, Here’s Why
✓ Share:
David is a financial news writer with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has a talent for keeping up with breaking news. Staying on top of trends, David is knowledgeable about regulations, partnerships, crypto assets, stocks, NFTs, etc. He reported in various fields such as. Away from the financial markets, David cycles and rides horses.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
#Mike #Novogratz #Predicts #Bitcoin #Price #Hints #Regulatory #Clarity
