Due to the current financial crisis, the prediction of billionaire investor Mike Novogratz claims that the bitcoin and cryptocurrency price will increase significantly within the next three months. This rising interest and confidence in stocks have also cause enabling bitcoin to approach its all time highest value at $30,000. Besides, the ascending price of XRP ahead of the SEC Ripple lawsuit is giving much hope to the crypto investors. Many are expecting the anticipated GDP data and weekly jobless claims data that could potentially show growth despite inflation and increasing rents. As the global stock market inclines bitcoin does too. The U.K government has dismissed the idea of releasing NFTs to promote investment after much skepticism. Contrary to this, Binance has frozen more than $2 million in a cryptocurrency address related to insider trading due to strict regulation scrutiny. Not only that, but the Commodities Futures Trading Commission (CFTF) has accused Binance of allowing US customers access despite the warnings from the regulator. Consequently, Binance established Binance-US to provide a legal way for these customers to use the platform. All of these factors depict an optimistic future of the cryptocurrency world in the near future.
- Andrew Watson
- 2023-03-30
Optimistic Future for Cryptocurrency with Bitcoin and Crypto Prices Expected to Inch Closer to All-Time High
Mike Novogratz, a billionaire investor believes Bitcoin and cryptocurrency prices are expected to increase within the next three months, inching closer to its all-time high. A look at the current financial markets, GDP data, jobless claims and other events such as UK govt dismissing NFTs and Binance taking the necessary steps to handle the SEC lawsuit, to provide a better cryptocurrency platform, points to a positive future.