Galaxy Digital’s CEO, Mike Novogratz, has expressed his belief that Bitcoin will not reach its all-time high unless there are changes in the macro conditions. During an episode of Galaxy’s podcast, Novogratz stated that Bitcoin would likely remain stagnant until the Federal Reserve lowers interest rates, at which point the price of BTC could begin to rise.
Novogratz also remains optimistic about the future of Bitcoin, suggesting that more favorable cryptocurrency regulations could potentially drive the price to new all-time highs. He points to the increasing debt and spending of the US federal government as a factor that could lead more people to invest in Bitcoin, considering it as a form of “digital gold.”
Meanwhile, market activity for Bitcoin appears to have slowed down slightly. At the time of writing, BTC is trading at $66,950 and has been testing the $67,000 level. Although it briefly surpassed $67,000, it was unable to maintain that level.
Bitcoin’s market capitalization is still above $1.3 trillion, depending on the price trend. However, the 24-hour trading volume is gradually decreasing, with a 34% drop in volume over the past 24 hours, bringing it to $19.4 billion.
Please note that the information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
