Bitcoin not ‘rangy’ anymore? Here’s why these exes are singing different tune
Top Galaxy Digital officials recently spoke about the current market trends and adoption volume of Bitcoin in an Earnings Conference Call. The crypto-financial services firm remains bullish on crypto-assets in 2022, especially after a series of positive events for the sector.
CEO Mike Novogratz was particularly pleased with the company’s fourth quarter, one which capped off a brilliant year for Galaxy Digital.
“Our Partner’s Capital at $2.6 billion leaves us one of the most equitized, the strongest balance sheet companies in the crypto space.”
In a previous interview, Novogratz had projected a “rangy” year for Bitcoin between $30,000 and $50,000. To the joy of many, the tide has turned altogether for him, with the exec adding,
“…. the innovation we’re seeing in Web 3 and in the Metaverse space, I’ve gotten more constructive than I was at the beginning of the year. And so it wouldn’t surprise me to see crypto significantly higher by the end of the year.”
Source: Trading View
Bitcoin’s bullish performance can be evidenced by its more recent price candlesticks. The RSI indicator, at press time, had a reading of 58.7 – Suggestive of more upside on the charts.
A series of factors have contributed to the same. For instance, some have argued that the Russian invasion on Ukraine has aided Bitcoin bulls during the latest rally. There has also been a sustained increase in adoption rates in many countries despite legal ambiguity of crypto-regulations.
The same was highlighted recently by an analysis of blockchain wallet users, an analysis released by Deutsche Bank.
Source: The Future of Payment by Deutsche Bank Research
The forecasted data is beyond promising, with the same pointing to an uncompromising upward trend in the macro landscape
Read more on ambcrypto.com
