Mike Novogratz Doesn't Expect Bitcoin Price to Surpass $30,000

by in Cryptocurrency News

Mike Novogratz Bitcoin price

Galaxy Digital CEO Mike Novogratz said in a recent interview with Bloomberg TV that he expects Bitcoin to stay within its recent price range as the industry hasn't seen large inflows of institutional capital.

Related: Mike Novogratz Says Most of Crypto Deleveraging Is Over

The businessman said he's doubtful that BTC will get through $30,000. According to him, the market isn't seeing huge institutional flows, but we're not seeing anyone back away either. Novogratz added that he doesn't see the mania that we saw in 2021 or 2017 reignating.

Commenting on the Ether price, Novogratz said he expects the coin to reach $2,200 or higher as the upgrade called Merge is near.

Currently, the total crypto market cap stands at around $1.1 trillion. Bitcoin trades at around $23,400, and Ether at $1,700.