The crypto market seems to be losing some steam, but this does not mean that there are no more optimistic predictions about the price of Bitcoin and digital assets these days.
Galaxy Digital CEO Mike Novogratz just dropped his own prediction.
Bitcoin to see a bullish rally
He says that after consolidating in the short term, Bitcoin (BTC) will witness a bullish fourth quarter and rally alongside the stock market.
In a new interview on CNBC’s Squawk Box, Novogratz said the following:
“Prices will probably stabilize here a little bit and consolidate. You won’t just keep going up forever. But my guess is fourth quarter, the S&P 500 has a good quarter and crypto has a good quarter. Usually the winners of the year, when they’re that much ahead, just drive on.”
Novogratz reveals a paradigm shift
Novogratz says a massive paradigm shift is happening in the crypto space, and he said that this is not only going on with Bitcoin. He addressed Ethereum competitors as well, and massive corporations such as Visa, which are to embrace NFTs.
He stated the following:
“I think there’s a recognition that things are going to be built on blockchains, and so it’s Ethereum, it’s LUNA, it’s Solana, it’s what we call [Layer 1] protocols. All have really jumped in the last four weeks. As a matter of fact, Ethereum has lagged a lot of these other smaller protocols as people try to figure out which one wins.”
He also said that Ethereum is the leader, and the digital asset will not be dethroned, but the other assets will also be successful.
The mass adoption of crypto has also been going great – this has been the most important goal of the crypto space, and things are going on the right track so far.
Stay tuned for more news.