Bitcoin Price Prediction Post-Election From Galaxy Digital CEO

Mike Novogratz, CEO of Galaxy Digital, shares his predictions on Bitcoin's trajectory following the upcoming U.S. presidential election in a recent interview on the Unchained YouTube channel.

He believes that Bitcoin is poised to enter a new bull market, regardless of the election outcome.

However, Novogratz notes that if Democratic candidate Kamala Harris wins, there may be a temporary dip in Bitcoin’s price, potentially falling to the high $50,000 to low $60,000 range before rebounding quickly. In contrast, he anticipates that a victory for Donald Trump could push Bitcoin past $73,000 rapidly.

Despite his optimistic outlook for Bitcoin, Novogratz expresses concern over the U.S. economic situation. He argues that the country may need to resort to debasing the dollar to manage its unprecedented debt levels, which he sees as a recipe for significant inflation.

READ MORE:

Significant Outflows Hit Bitcoin ETFs Ahead of U.S. Election

He emphasizes that the likelihood of the U.S. effectively addressing its fiscal challenges is low. Novogratz suggests that the best-case scenario might involve capable leaders managing inflation at a controlled rate of 4% to 5% to gradually reduce the national debt.

He remains confident that, under these circumstances, Bitcoin’s value will continue to rise.

Kosta Gushterov