Mike Novogratz names the main condition for bitcoin’s growth to a new record

The CEO of Galaxy Digital suggested that the growth of the market’s flagship will start again as soon as the world becomes calmer. According to Mike Novogratz, waging wars is too expensive.

The analyst spoke out against the outbreak of a military conflict in the Middle East, which will negatively affect the bitcoin rate. The businessman called on world leaders to take control of the situation so as not to exacerbate the fall in prices for all financial assets, including cryptocurrencies.

If the situation stabilizes, bitcoin may reach a new record high, the entrepreneur is sure. «I pray that a sober approach will prevail among all the warring parties to avoid further development of a major regional conflict. The Middle East has good potential, and it is painful to watch these tragic events. As soon as everything calms down, bitcoin will resume its bullish trend ,» Novogratz wrote on social network X.

Cryptocurrency investor and analyst Mike Alfred agreed with Novogratz: BTC could recover. The analyst spoke about an investor he knew who rushed to sell his bitcoins at $ 61,600 per coin during the recent market downturn. The user believed that Iran was very serious, so he did not rule out a nuclear war. However, when BTC recovered to $ 65,000, the investor regretted his decision to sell bitcoins.

Earlier in March, Novogratz predicted that despite the impressive growth of the digital currency in 2024, a significant rise to «new, unprecedented heights» would be preceded by a correction. «I wouldn’t be surprised to see a correction and some consolidation ,» Novogratz said. «If it [BTC] corrects, it could correct to the mid-$ 50,000s before soaring to a new high.»