Two giants of the cryptocurrency world, Galaxy Digital CEO Mike Novogratz and SkyBridge Capital founder Anthony Scaramucci, discussed Bitcoin’s (BTC) potential return to the $80,000 level and the future of the market.
Speaking about Bitcoin’s trajectory around the $80,000 mark, Mike Novogratz stated that the technically critical level is $84,000. Novogratz said, “We are constantly knocking on the $80,000 door, but the real resistance point is the $83,000-$84,000 level. If we can permanently break through this level, we will see Bitcoin’s journey towards $100,000.”
Novogratz, noting the decrease in selling pressure in the market, stated, “What we’re seeing in Galaxy is this: everyone who needed to sell has already sold. Now we have far fewer sellers and a much more eager buyer base. Cryptocurrencies are regaining their ‘mojo’ (charm/energy).”
Another important topic highlighted in the broadcast was legal regulations in the US. Novogratz stated that he sees a 70-75% chance of the Clarity Act passing and that this would be a major catalyst for the market. He also noted that crypto conferences, which were previously focused on individual investors, have now taken on a completely institutional identity, with every major institution now represented.
*This is not investment advice.