Crazy stuff needed for Bitcoin to reach $250K this year: Novogratz

Mike Novogratz, CEO of Galaxy Digital, expressed skepticism about Bitcoin reaching $250,000 by the end of 2025, stating that significant external factors would be required for such a surge. As of now, Bitcoin trades at $107,649 and would need to rise by approximately 133% within the next ten weeks to hit that target. Novogratz believes Bitcoin should maintain a psychological support level around $100,000, which it first broke in December 2024. He anticipates a price range between $100,000 and $125,000 unless it surpasses the latter. Novogratz identified potential catalysts for upward movement, including possible Federal Reserve rate influences from Donald Trump or the passing of the CLARITY Act. In contrast, other crypto executives remain bullish, predicting Bitcoin could reach between $200,000 and $250,000 by year-end. Some analysts, however, argue that the year-end price of Bitcoin is not crucial, emphasizing the unpredictability of markets and statistics.

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