Bitcoin Price Prediction Post-Election From Galaxy Digital CEO
Mike Novogratz, CEO of Galaxy Digital, shares his predictions on Bitcoin's trajectory following the upcoming U.S. presidential election in a recent interview on the Unchained YouTube channel.
He believes that Bitcoin is poised to enter a new bull market, regardless of the election outcome.
However, Novogratz notes that if Democratic candidate Kamala Harris wins, there may be a temporary dip in Bitcoin’s price, potentially falling to the high $50,000 to low $60,000 range before rebounding quickly. In contrast, he anticipates that a victory for Donald Trump could push Bitcoin past $73,000 rapidly.
Despite his optimistic outlook for Bitcoin, Novogratz expresses concern over the U.S. economic situation. He argues that the country may need to resort to debasing the dollar to manage its unprecedented debt levels, which he sees as a recipe for significant inflation.
READ MORE:
Significant Outflows Hit Bitcoin ETFs Ahead of U.S. ElectionHe emphasizes that the likelihood of the U.S. effectively addressing its fiscal challenges is low. Novogratz suggests that the best-case scenario might involve capable leaders managing inflation at a controlled rate of 4% to 5% to gradually reduce the national debt.
He remains confident that, under these circumstances, Bitcoin’s value will continue to rise.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple CEO Reveals the Truth About the Amount of XRP on the Company's Balance Sheet
Tether to Build 70-Story Skyscraper in El Salvador, Symbol of Prosperity
Tech giants bounce back after AI disruption, S&P 500 nears record high
Share link:In this post: Last week, the largest tech firms in the US experienced huge challenges from Chinese AI, DeepSeek. Apple and Meta reported positive results, boosting the S&P 500. The Magnificent Seven’s price-to-earnings ratio is now 31.
OpenAI launches o3-Mini as it fights back against DeepSeek
Share link:In this post: OpenAI has launched its o3-Mini AI model to fight back against DeepSeek’s latest model. The company mentioned in its blog post that the o3-Mini is the most cost-efficient model in their reasoning series. DeepSeek’s breakthrough caused a $1 trillion tech selloff while putting pressure on AI chip makers.