Bitcoin 'Will Resume Its Trend Higher,' Says Galaxy Digital CEO Amid Israel-Iran Escalation
Portfolio Pulse from Benzinga Neuro
Mike Novogratz, CEO of Galaxy Digital, predicts Bitcoin will resume its upward trend after a risk flush due to the economic repercussions of war, specifically referencing the recent Israel-Iran escalation. Despite a recent drop in Bitcoin's price following a drone attack by Iran on Israel, Novogratz remains optimistic about Bitcoin's resilience and its potential surge ahead of the upcoming halving event. Currently, Bitcoin is trading at $65,474.10, with a year-to-date increase of 48.23%.
April 15, 2024 | 1:39 am
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Mike Novogratz predicts Bitcoin will recover and continue its upward trend after a risk flush due to the Israel-Iran conflict, despite a recent price drop following a drone attack. Bitcoin's resilience in times of geopolitical instability and the upcoming halving event are key factors in its potential performance.
Novogratz's prediction is based on Bitcoin's historical resilience during geopolitical tensions and the anticipation of the halving event, which historically has led to price increases. His optimistic outlook, despite recent drops due to the Israel-Iran conflict, suggests a strong belief in Bitcoin's fundamentals and its appeal as a hard asset in inflationary times.
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