Bitcoin Poised for $100K Surge by Year-End, Predicts Galaxy Digital CEO Mike Novogratz

  • Bitcoin (BTC) is on the verge of a potential price explosion, suggested by industry expert Mike Novogratz.
  • The Galaxy Digital CEO predicts BTC could hit $100,000 by the end of 2024.
  • He cites several factors, such as market psychology and potential regulatory shifts, as key drivers of this growth.

Mike Novogratz forecasts Bitcoin could reach $100K by end of 2024, contingent on breaking key resistance levels and favorable regulatory conditions.

Breaking Through Barriers: The $73,000 Threshold

Mike Novogratz’s optimistic outlook is predicated on Bitcoin breaking through the $73,000 resistance level. He argues that surpassing this crucial point could set off a chain reaction, propelling Bitcoin towards the six-figure mark. The concept of market ranges plays a significant role here. If Bitcoin establishes a foothold above $73,000, it could leverage psychological and market dynamics to push further into the $100,000 territory.

Novogratz stated:

“If we take $73,000 in the next couple of weeks or so, we are going to end the year at $100,000 or higher.”

Though promising, it’s vital to recognize that the cryptocurrency market is inherently volatile. External factors and market corrections can rapidly alter even the most bullish forecasts. Another critical aspect is the evolving regulatory landscape, with legislative bodies mulling over bills that could significantly impact the market.

The Role of the FIT21 Bill in Regulatory Clarity

The Financial Innovation and Technology for the 21st Century Act (FIT21) seeks to establish a regulatory framework for cryptocurrencies in the United States. The bill envisions placing the Commodity Futures Trading Commission (CFTC) at the helm, providing much-needed regulatory clarity for businesses operating in the crypto realm. While the bill could stabilize and legitimize the market, it still faces significant hurdles, particularly in the Senate, which has a different political makeup from the House.

Bitcoin’s Ascent: A Balancing Act

The next few months will be crucial for Bitcoin. Will it break through the $73,000 barrier and maintain momentum towards $100,000? The answers to these questions hinge significantly on the institutional appetite for Bitcoin ETFs and the evolving regulatory environment. These factors will either propel Bitcoin to new milestones or serve as a reality check.

Institutional Investors Flock to Bitcoin Via ETFs

A significant factor behind Novogratz’s optimism is the recent rollout of spot Bitcoin ETFs, which have enabled institutional investors to gain Bitcoin exposure without directly holding the cryptocurrency. This development has sparked an influx of capital, with Novogratz noting around $60 billion flowing into these funds. The surge in institutional demand has already shown a positive impact on Bitcoin prices, reinforcing the bullish outlook.


Mike Novogratz’s forecast of Bitcoin hitting $100,000 by year-end 2024 rests on breaking through the critical $73,000 resistance, growing institutional investment via ETFs, and navigating the evolving regulatory landscape. As the year progresses, the interplay of these factors will be pivotal in determining Bitcoin’s path ahead.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Latest News

Circle CEO Jeremy Allaire’s Bullish Outlook on Crypto and Bitcoin’s Future

The co-founder and CEO of Circle expresses...

AI-Driven Phishing Scams Surge Amid Summer Travel, Warns SlashNext CEO

As the cryptocurrency market continues to evolve,...

Binance Labs Leads Strategic Investment in Rango Exchange to Propel DeFi Growth

Binance Labs spearheads the latest...

PRO Analysis

Bitcoin Price Analysis: Bears Dominate as BTC Slides, Hedge Funds Reduce Exposure

Bitcoin prices are experiencing a decline, drifting...

Floki ($FLOKI) Poised for Strong Gains in 2024: An In-Depth Analysis

Cryptocurrency investors are continuously searching for lucrative...

Ethereum Price Analysis: ETH Eyes Break Above $3,650 for Potential Surge to $4,000

Ethereum's price saw notable oscillations...
Jocelyn Blake
Jocelyn Blake
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.

Bitcoin Miner Holdings Hit 14-Year Low as BTC Price Approaches New Highs

The reserves of Bitcoin (BTC) held by miners have dropped to their lowest levels in over 14 years. ...

Circle CEO Jeremy Allaire’s Bullish Outlook on Crypto and Bitcoin’s Future

The co-founder and CEO of Circle expresses strong optimism about the future of cryptocurrency. He provides insights based on his extensive...

AI-Driven Phishing Scams Surge Amid Summer Travel, Warns SlashNext CEO

As the cryptocurrency market continues to evolve, incidences of cybercrime in the sector are becoming increasingly sophisticated. Phishing attacks targeting crypto...