Feb 16, 2023

Novogratz Predicts Bitcoin Could Reach $30,000 by March

The CEO of Galaxy Digital Holdings, Mike Novogratz, has voiced his belief that Bitcoin (BTC) could reach a staggering $30,000 by the end of March. This prediction is much lower than those he has made in the past, such as his prediction that Bitcoin could reach $500,000 by the end of 2027 if the United States Federal Reserve kept hiking interest rates.

At a Bank of America conference on February 15, Novogratz stated: “When I look at the price action, when I look at the excitement of the customers calling, the FOMO building up, it wouldn’t surprise me if we were at $30,000 by the end of the quarter.”

The Federal Reserve has been increasing interest rates, and the most recent rate hike was announced on February 1. Novogratz commented on this, saying: “What makes me skeptical that we can have the explosive, back-to-the-old highs this year is Chairman Powell. He’s really doing what he says he’s going to do, and I don’t see the Fed pivoting and cutting anytime soon.”

Following the U.S. Consumer Price Index readout for January coming in roughly as expected on February 14, Bitcoin gained nearly 12% in 24 hours and hit over $24,700 — its highest level since mid-August, according to Cointelegraph data. This has only furthered the optimism surrounding the cryptocurrency, with the Crypto Fear and Greed index climbing nine points to 62 out of 100, moving the scale from “neutral” into “greed” territory.

The one-year chart of the Fear and Greed Index shows it last reached a score of 60 on March 28, 2022.

In order for Bitcoin to reach the $30,000 mark by the end of March, it would need to gain roughly another 22%. This could be a sign of a strong bull run, and if the rate hikes from the Federal Reserve continue, it could be a strong signifier of a bullish market.

The web3 space has been abuzz with activity recently, with the rise of Non Fungible Tokens (NFTs) and the increased promotion of crypto assets. NFTs have become increasingly popular, with many companies using them to promote their products and services. Twitter NFT marketing has become particularly popular, with many companies using the platform to promote their NFTs and crypto assets.

NFT marketing agencies have sprung up in response to this increased demand, providing services that help companies promote their NFTs and crypto assets. These services range from helping companies create their own NFTs to helping them market and promote them.

The increased promotion of NFTs and crypto assets has also led to an increase in the number of people selling NFTs. This has led to the emergence of a new industry known as “web3 agencies”, which specialize in helping companies create, market, and promote their NFTs and crypto assets.

It remains to be seen whether Bitcoin will reach the $30,000 mark by the end of March, but with the increased promotion of NFTs and crypto assets, and the increased activity in the web3 space, it is certainly possible.

Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.