Categories: MarketsMenafn

Bitcoin Investor Bolsters BTC Bulls Ahead of Halving

Mike Novogratz has expressed optimism about the future trajectory of Bitcoin (BTC) as the cryptocurrency gears up for its highly anticipated halving event scheduled for April 2024.

Novogratz, the CEO of Galaxy Investment, specializing in crypto investments, took to social media to share insights into Bitcoin’s upcoming halving. Bitcoin recently approached a valuation of $52,500, shy of its previous all-time high of $69,000, as its market capitalization breached the $1 trillion mark. 

He talked about how Bitcoin mining is supposed to get more challenging, which could cause more people to want to buy it and fewer people to be able to sell it, which could make the price go up.

Novogratz said that the way supply changes affects the prices of assets, and he suggested that BTC’s value could surge in the long run if supply goes down and demand stays high.

Institutional Confidence in Bitcoin Surges

Institutional investors’ actions are another sign that BTC is becoming more popular with regular people. The global investment management company BlackRock has increased the amount of BTC it holds to 105,280 BTC for its spot iShares Bitcoin Trust, IBIT. This shows that institutions still have faith in the digital currency.

According to data from the past, however, BTC’s price usually drops in March of split years and then starts to rise again. Matrixport, a top platform for financial services related to digital assets, has seen this trend before, which points to short-term volatility in the middle of long-term bullishness.

Recently, BTC’s mining difficulty hit a record high of 75.5 T. This shows how strong the network is and points to a historically bullish trend for the cryptocurrency.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

XRP Whale Transfers Spark Surge, Ethereum Eyes $4,000, Bitcoin Targets $130K — Find Mining Launches New App

As Bitcoin Targets $130K and Ethereum Nears $4,000, Find Mining Empowers Users with Smart Cloud…

3 hours ago

U-topia Joins The International Chamber of Virtual Assets Through TheBlock’s Startup Program

Dubai, UAE, 29th July 2025, ZEX PR WIRE, U-topia, a technology company working at the intersection…

3 hours ago

BNB Rallying Over 6%—Why Are Savvy Investors Secretly Flocking to BTC Miner Cloud Mining?

New York, 29th July 2025, ZEX PR WIRE, Today, Binance Coin (BNB) led the market…

3 hours ago

$1 Memecoin Relaunches as Community-Led Movement Against Inflation and Dollar Erosion

London, United Kingdom, 29th July 2025, ZEX PR WIRE, A decentralized crypto protest is gaining…

13 hours ago

Predictino Launches Public PREDINO Presale to Bring AI Forecasting to Crypto Traders

London, UK, 29th July 2025, ZEX PR WIRE, Predictino, an AI-powered trading intelligence platform, has…

13 hours ago

Global Side Hustle Revolution: Remote Workers Flock to InvroMining Cloud Mining, $100 Daily Earnings Becoming the New Normal

London, UK, 28th July 2025, ZEX PR WIRE, Globally, “telecommuting” and “digital side hustling” are…

23 hours ago