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Galaxy Digital CEO Mike Novogratz says he wouldn\u2019t be surprised if the price of bitcoin returns to $30,000 next month. \u201cWhen I look at the price action, when I look at the excitement of the customers calling, the FOMO [fear of missing out] building up, it wouldn\u2019t surprise me,\u201d the executive shared.<\/strong><\/p>\n Galaxy Digital CEO Mike Novogratz shared his bitcoin price outlook Wednesday at a Bank of America conference. The longtime bitcoin advocate believes that BTC<\/a> could return to $30,000 by the end of next month. He said:<\/p>\n When I look at the price action, when I look at the excitement of the customers calling, the FOMO [fear of missing out] building up, it wouldn\u2019t surprise me if we were at $30,000 by the end of the quarter.<\/p>\n<\/blockquote>\n \u201cI would\u2019ve given both my shoes for that to be true just six weeks ago,\u201d he added, noting that it would\u2019ve made him \u201cthe happiest guy\u201d if BTC<\/a> ended 2022 at $30,000.<\/p>\n The Galaxy Digital CEO was previously more bullish about the price of bitcoin. He said in March last year that BTC<\/a> should be at $500,000<\/a> \u201cfive years out.\u201d However, he revised his forecast in December, stating that it would take more than five years for BTC<\/a> to reach that price level. He attributed his skepticism to Federal Reserve Chairman Jerome Powell\u2019s interest-rate increases.<\/p>\n At the time of writing, bitcoin is trading at $24,567, up 8% in the past 24 hours and 16% over the last 30 days.<\/p>\n The Galaxy Digital boss explained:<\/p>\n What makes me skeptical that we can have the explosive, back-to-the-old highs this year is Chairman Powell \u2026 He\u2019s really doing what he says he\u2019s going to do, and I don\u2019t see the Fed pivoting and cutting anytime soon.<\/p>\n<\/blockquote>\n A number of people recently made bullish predictions about bitcoin. Rich Dad Poor Dad author Robert Kiyosaki<\/a> said he expects BTC<\/a> to hit $500,000 by 2025. Crypto-focused investment firm Pantera Capital said we are already in the next bitcoin bull market cycle<\/a>. Investment management firm Ark Invest said bitcoin could become a multitrillion-dollar market<\/a>, predicting that BTC<\/a> could reach $1.48 million per coin.<\/p>\nBitcoin Could Return to $30,000 in Q1, Says Novogratz<\/h2>\n
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