Galaxy Digital CEO Mike Novogratz is sticking with his bullish Bitcoin outlook, saying that the cryptocurrency’s chart remains constructive and that a move to $100,000 before the end of the year would not surprise him.
“I still like the chart,” Novogratz said during a recent All Things Markets discussion. “It will not surprise me if we’re at $100K by year end.”
The call comes as Bitcoin continues to trade around an important technical area, leaving traders divided over whether the cryptocurrency is preparing for another major leg higher or could spend more time consolidating.
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Novogratz, however, does not appear particularly concerned by the lack of an immediate breakout.
The Galaxy chief pointed to growing activity across the broader crypto ecosystem as another reason sentiment may be improving, arguing that several smaller developments were beginning to add up.
“You got a lot decent little story showing up around the edges, and I think that’s brought a little enthusiasm back to crypto,” he said.
Novogratz also framed the current environment as one in which investors may have to tolerate substantial volatility in order to remain positioned for further gains.
Risk-on backdrop
That risk-on backdrop could also have implications for cryptocurrency flows.
Later in the conversation, Novogratz suggested there may be some rotation between high-momentum equities and crypto assets.
“What you see is when Momo sells off, crypto does a little better,” he said. “So, there’s probably some rotation.”
The comments are notable because Bitcoin’s path toward $100,000 would require another meaningful advance from current levels, but Novogratz is not presenting the target as a guaranteed outcome. His wording is considerably more measured: the Galaxy CEO says the chart remains attractive and that reaching the six-figure threshold this year would simply not be surprising.
For Novogratz, the recent combination of improving trading volumes, renewed crypto activity and resilient momentum appears to be enough to keep him constructive.
For now, he is not flinching.
“I still like the chart,” Novogratz said. “It will not surprise me if we’re at $100K by year end.”