Il price of Bitcoin has been the subject of debate since the digital asset entered the mainstream more than ten years ago. With its continued growth, many investors and analysts have balanced out in offering their predictions on the price of the cryptocurrency, both long and short term. One of them is the billionaire Mike Novogratz which, let's say right away, doesn't seem to be very optimistic in the short term.
The price of bitcoin is currently bouncing between $ 23.000 and $ 24.000. This has given rise to much speculation as to what will happen when the digital asset is finally able to emerge from this deadlock. For many, the recent recovery has led to the belief that there will definitely be one run towards $ 30.000, from where the price had come down. However, not everyone seems to share this short-term bullish sentiment, and Novogratz is one of them.
The CEO of Galaxy Digital was one of the many supporters of bitcoin, investing in this asset both personally and professionally. However, with bitcoin's current trend, Novogratz does not expect a recovery. In particular, he does not expect the asset to reach $ 30.000.
Novogratz explained in an interview with Bloomberg that it expected the price of the digital asset to continue to hover between $ 20.000 and $ 22.000, not believing a break above $ 30.000 with the recent rise is possible.
There are several factors that affect the market for cryptocurrency and, consequently, the price of bitcoin. Recently, the news of the US entry into recession was the catalyst for the recovery trend, but Novogratz believes that bitcoin's performance continues to be strongly linked to government decisions.
However, although he does not believe that the price of Bitcoin cannot touch $ 30.000 during this bull run, the billionaire's position on bitcoin has not changed. He previously stated that the price of the digital asset will grow to $ 500.000. His company also remains committed to his bitcoin strategy, holding a total of 16.402 BTC, making his company the public company with the third largest bitcoin holding in the world.