Mike Novogratz: Bitcoin Will Soar to $100,000

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According to Mike Novogratz, the CEO of Galaxy Digital, the price of the first cryptocurrency is not expected to drop below $50,000 unless a major event occurs.

He believes that the recent increase in value of digital gold can be attributed to the continuous influx of funds into spot Bitcoin ETFs.

As long as this trend continues, the first cryptocurrency will likely continue to rally. Novogratz also mentioned that once the flow of funds into Bitcoin ETFs slows down, a real correction may occur.

Currently, funding rates are high, indicating that investors should be prepared for potential adjustments in the market. However, the CEO does not see the price dropping below $50,000 to $55,000.

He further noted that after the approval of a Bitcoin ETF, there has been a shift in thinking among investors in the market.