Galaxy Digital CEO Mike Novogratz doubts that the Bitcoin rate will surpass $30,000 by the end of the year

Galaxy Digital CEO Mike Novogratz believes that it is unlikely for Bitcoin to exceed the $30,000 price tag anytime soon. He expects that its exchange rate will be between 20 and 30 thousand dollars.

Bitcoin price has not exceeded $ 30,000 for almost two months. The minimum price in June dropped to $17,500, causing panic in the crypto community. In the past few weeks, Bitcoin has finally exceeded the $20,000 level.

Novogratz said that he would be happy if Bitcoin stays at the level of 20-30 thousand dollars until the end of the year, and then there will be a powerful growth of this asset.

The billionaire also disclosed his thoughts about the future of the Ethereum after moving to Proof-of-Stake. He believes that this will give Ethereum a significant push and boost its price above $2,200.

Earlier, Novogratz said that the current crypto market crash is coming from wrong decisions made by its participants. Now the market will need time to restore confidence among investors and turn bullish.

In May, the UST token lost its peg to the US dollar. This incident also negatively affected the market situation. Galaxy Digital also invested in the Terra ecosystem, but Novogratz predicted its collapse in time and managed to sell his assets.

Recently, Coinbase and the international investment company BlackRock have begun cooperating, so users of the Aladdin platform will be able to trade digital currencies. According to Novogratz, this cooperation is extremely important for the crypto industry. Many analysts expect strong growth of Bitcoin amid this fact.

Last month, Glassnode’s experts predicted positive Bitcoin price momentum. At the same time, crypto mining remains a profitable business in the long term.