Bitcoin Prioes could reach $ 30,000 by the end of March

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The founder and managing director of Galaxy Digital said that he expects Bitcoin prices to reach $ 30,000 by the end of March.

At a conference of the Bank of America on February 15, Novogramm said:

"If I look at the course development when I look at the excitement of the calling customers that the Fomo built up, it would not surprise me if we were $ 30,000 by the end of the quarter

And I would have given both shoes six weeks ago, ”he continued, adding:“ If we end the year with $ 30,000, I am the happiest type. ”

Bitcoin has experienced his biggest day of the day in over a month, with a rich increase of 12 % in the last 24 hours.

"It would not surprise me if we were at $ 30,000 at the end of the quarter," said Mike Novogratz, CEO of Galaxy Digital, https://t.co/8ngwzbiqkj

- Bloomberg Crypto (@Crypto) 15. February 2023

Bitcoin in five years to $ 500,000

In order to achieve the price forecast from Novogratz, BTC only has to increase by a further 21.5 % of the current level.

The risk capital provider was optimistic about the king of cryptography, with a unusual forecast that the prices for a BTC would reach $ 500,000 in 2024. He still sees that the asset reaches this level, but not in the next five years.

He blamed the interest rate of the Federal Reserve for the extended forecast.

"What makes me skeptical that we can reach the explosives, back to the old heights this year, is Chairman Powell," said Novogratz before he added, "He really does what he says, and I don't see Fed soon."

higher interest rates make cash a more attractive system for passive income. In addition, there is still a risk of recession, which means that less available income can be spent on risky assets such as crypto.

The latest big step for BTC has improved the market mood in the middle of Uncle Sam's regulatory war against crypto. Bitcoin's fear and greed index is currently registering a value of 62, which is firmly in the greed territory.

bitcoin Fear and greed index is 62 ~ gier
Current price: 24.304 $ pic.twitter.com/zbgevo6wmq

- Bitcoin Angst- und Gier-Index (@Bitcoinfear) 16. February 2023

BTC price pumps

According to Coingecko, BTC prices rose by epic 11.8 % to $ 24,711 on this day.

The asset is now being traded at an eight -month high and reaches a price level that has not been reached since mid -June. It also wiped out all losses in February dip and blown up past levels before the collapse of the FTX.

Analysts find that there is no great resistance between $ 25,000 and $ 30,000, and add that Ethereum could soon reach $ 2,000 if the dynamic stops.

hmm, not as much resistance between 25 and 30 k as I see things. It feels like the bulls still itchy afterwards. You also have to believe $ eth is around the corner.

- Satoshi Flipper (@satoshiflipper) 16. February 2023

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