Mike Novogratz predicts bitcoin’s growth to $ 100,000 in the near future

Galaxy Digital CEO Mike Novogratz told Bloomberg that the flagship cryptocurrency could reach the six-figure mark this year.

If the price of bitcoin overcomes the $ 73,000 threshold in the near future, the flagship cryptocurrency could reach $ 100,000. The cryptocurrency tycoon does not rule out that the price of bitcoin could jump even higher.

Novogratz noted that the lower boundary of the current range started around the $ 40,000 level. The $ 70,000 level is the upper limit of the current range. Over the past few weeks, bitcoin has been mostly within a range after failing to break the $ 70,000 level several times.

While some congressional hostility was previously seen as a major factor hampering bitcoin, Novogratz believes it could turn into a potential tailwind after recent developments in Congress. «Washington has finally recognized that crypto legislation should be passed in principle. That it should be bipartisan… The last few weeks have been incredibly positive,» Novogratz said.

It is worth noting that Novogratz believed that the crypto industry would not receive regulatory clarity just a few weeks ago. According to the billionaire, the fact that some governments continue to spend money is also a positive development for the largest cryptocurrency.