Galaxy Digital CEO Mike Novogratz said he wouldn’t be surprised if cryptocurrencies traded “significantly” higher by the end of the year.
Billionaire noted that cryptos are becoming more structured than they were in early 2022.
Novogratz had previously correctly predicted that the crypto industry would struggle to recover due to weakness in the equity market triggered by the US Federal Reserve’s contraction.
Bitcoin and the majority of altcoins went through a tough period in January, with BTC falling below the $33,000 level.
The bulls have recently taken control, pushing the Bitcoin value as high as $49,234 in 2022.
Bitcoin slumped 4.4% as the European Parliament voted to ban anonymous crypto payments. The asset is trading at $45,794 at the time of writing, according to CoinMarketCap data.
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