Galaxy Digital Executive Predicts Bitcoin Will Reach $100,000 and Beyond
In a recent interview with CNBC, Jason Urban, the Global Head of Trading at Galaxy Digital, expressed his belief that Bitcoin (BTC) will eventually reach $100,000 and even surpass this target in the current market cycle. Urban’s prediction is based on the forecasts made by Galaxy Digital CEO Mike Novogratz, who expects BTC to hit $100,000, and Standard Chartered, which recently raised its Bitcoin price target to $150,000.
Predicting $125,000 for Bitcoin
Considering Novogratz’s and Standard Chartered’s predictions, Urban believes that the truth lies somewhere in between. He splits the difference and calls for a BTC price of $125,000.
“I certainly think that $100,000 is expected by a lot of crypto enthusiasts. There is a strong belief in the market, especially among traditional finance players who are stepping in. So I don’t think $100,000 is off the table,” says Urban during the interview.
A Hopeful Outlook for BTC
Urban also expresses his hope that Bitcoin can reach $150,000 after taking some time to rebuild momentum following its recent retracement. He emphasizes the importance of healthy price discovery and market action in achieving this target.
“You need a steady build. It’ll build a base here and then start to really drive higher. So I’ll play it safe and say $120,000 to $125,000,” explains Urban.
Bitcoin’s Current Price
At the time of writing, Bitcoin is valued at $63,953. This marks an 11% decrease in its price over the past week.
Hot Take: Bitcoin’s Future Price
According to Jason Urban, a top executive at Galaxy Digital, Bitcoin is expected to reach $100,000 and potentially surpass this target during the current market cycle. Urban’s prediction aligns with the forecasts made by Galaxy Digital CEO Mike Novogratz and Standard Chartered. While Novogratz expects BTC to hit $100,000 and Standard Chartered predicts a price of $150,000, Urban believes that the truth lies somewhere in between. He calls for a Bitcoin price of $125,000.
Urban highlights the strong belief among crypto enthusiasts and the increasing interest from traditional finance players as factors that contribute to the potential of Bitcoin reaching new highs. However, he also emphasizes the importance of healthy price discovery and market action in achieving these targets.
Currently valued at $63,953, Bitcoin has experienced an 11% decrease in price over the past week. Despite this retracement, Urban remains hopeful that BTC can regain momentum and eventually reach $150,000.
Disclaimer: The above references an opinion and is for informational purposes only. It is not intended as investment advice. Please do your own research before making any investment decisions.
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