Galaxy Digital CEO Michael Novogratz predicts that the price of Bitcoin will not drop below the $50K-$55K range. He believes that this is the new price floor, barring any major unforeseen events. Novogratz describes Bitcoin as a volatile asset and notes that we are currently in a phase of price discovery. He suggests that if we examine the charts, a potential target for Bitcoin could be $100,000. Novogratz also mentions that traders are closely monitoring the inflows and outflows of Bitcoin exchange-traded funds (ETFs) as an indicator of market movements. While he acknowledges that markets are currently frothy and funding rates are high, he remains optimistic that Bitcoin will maintain its position above the $55,000 level.
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Galaxy Digital CEO: Bitcoin Unlikely to Fall Below $55,000 — ‘That’s the New Floor’
