Billionaire Mike Novogratz, CEO of Galaxy Digital, shared insights on the future of Ethereum, noting that current patterns may indicate growth.
Prediction on 'Quadruple Top'
In his social media analysis, Novogratz mentioned the 'quadruple top' formation is not as bearish as often thought. He believes that such patterns usually lead to a slight correction followed by the beginning of a new uptrend. He stated that Ethereum is currently trading in the $3000-$4000 range and expressed confidence that we will break the $4000 level soon.
Comparison with Bitcoin
Previously in an interview with CNBC, Novogratz suggested that Ethereum could outperform Bitcoin within the next 3-6 months, attributing this to the increasing number of companies holding Ethereum. He pointed out that if ETH surpasses $4000, it could trigger a new phase of 'price discovery.'
Global Economic Factors
The Galaxy CEO also set a price target for Bitcoin of up to $150,000 in this cycle, emphasizing that gold, silver, and crypto assets are gaining strength in an inflationary environment. He cited global factors such as rising inflation in the US, pressure for interest rate cuts from the Trump administration, and China's new reflation policies as supporting trends.
Mike Novogratz's predictions highlight optimism for cryptocurrency markets, yet significant economic factors may influence these expectations in the future.
