Bitcoin Price Could Reach $30,000 by March, Predicts Mike Novogratz

  • Earlier he had predicted that by 2027, the BTC price would be 500,000.
  • The current predicted price is far behind $500,000, and 25% higher than the present price.

Mike Novogratz, the American investor, crypto advocate, and the CEO of the financial digital services and investment management company Galaxy Digital Holdings Limited predicted that the leading crypto Bitcoin’s price would soon reach $30,000 by the end of March 2023.

Notably, on February 15, Novogratz told during the Bank of America conference, that it wouldn’t be a surprise for him if the BTC price goes up more than $30,000.

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.

Novogratz also shared his disappointment in the lower price of BTC during the last year, adding that he would have been the happiest person if the price had hit $30,000 at the end of 2022.

Previously, the investor foretold that the price would surge enormously reaching $500,000 by the end of 2027, provided the United States Federal Reserve continues increasing interest rates.

Three Months’ BTC Price

While tracing the trajectory of the BTC price for the past three months, it is evident that the coin follows a positive inclination from $16.72k in December 2022 to the current $24.66k.

Interestingly, Novogratz’s current prediction is far behind the predicted price for 2027 and is 25% more than the current price. Significantly, Novogratz mentioned his previous prediction during the last day’s conference, referring to Fed Chair Jerome Powell, who hiked the interests recently on February 1.

Further, Novogratz believes that the Fed wouldn’t introduce more hikes in the upcoming days:

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.

It is noteworthy that last Wednesday, BTC rose to its highest price since August 2022, which continued to rise in the following days.

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