.novogratz believes that crypto prices could be substantially higher by the end of the year
During a recent earnings call, Galaxy Digital CEO Mike Novogratz said that it wouldn’t surprise him if cryptocurrencies were to trade “significantly” higher by the end of the year.reported by U.Today
, Novogratz turned bearish on crypto in the short-term, correctly forecasting that it would have a hard time rallying due to weakness in the U.S. equity market triggered by the U.S. Federal Reserve’s fast pivot to taper. Bitcoin and most of the top altcoins struggled big time in January, with the largest cryptocurrency plunging below the $33,000 level on Jan. 24.
However, recently, bulls managed to regain control over the market, pushing the Bitcoin price to $48,234, the highest level in 2022 on the Bitstamp exchange, earlier this week. voted to crack down on anonymous cryptocurrency payments, a move that critics claim could lead to privacy erosion. Bitcoin is still 33.76% away from its peak despite seeing substantial progress over the past several weeks.
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