Since last week the cryptocurrency market was all green where the major cryptocurrencies were maintaining their pace around the respective price levels. However, though Bitcoin price is still hovering around the $23,000 mark, the currency is down by 2.88% trading at $23,395.
While the major currency is struggling for a bull run, Mike Novogratz, a crypto billionaire and founder of Galaxy Digital, believes that bitcoin will not see much growth. He believes that Qing currency will not trade more than $30,000 in the near future and says that there will not be much investment in the institution either.
These conversations were seen during a recent interview with Bloomberg where Mike Novogratz claimed that he is doubtful if Bitcoin will see its price levels above $30,000. Further he states that he wishes to see BTC price trading around $20,000, $22,000 or at most $30,000 for a while.
Meanwhile, Mike’s expectations for Ethereum are in contrast to those of Bitcoin. Here, he predicts a crawl for Ethereum towards $2,200 or even higher due to the recent price increase and network upgrades after the merge. At the moment, Ethereum is selling at $1,720, down by 2.76% over the past 24 hours.
Mike Novogratz : No Bitcoin Bull Run In 2022
However, Mike is not that positive towards seeing any big bullish moment for the year 2022 as the current macro developments doesn’t stand that supportive towards the crypto space. He further states that with the Federal Reserve increasing the interest rates there won’t be any big boom happening like 2021 or 2017.
Mike Novogratz’s Galaxy Digital disclosed a loss of $554 million on Monday, Aug. In terms of Q2 2021, total liabilities have increased almost three times.
Also, the Galaxy Digital was one of the largest contributors to Terra network and when the Terra (LUNA) collapsed it was a massive breakdown for the Company that faced huge losses.
