Galaxy Digital founder: Bitcoin may fluctuate in a narrow trading range of $55,000 to $75,000

ChainCatcher news, according to Bloomberg, Michael Novogratz, the founder of digital asset financial services company Galaxy Digital Holdings Ltd., stated that Bitcoin may continue to trade within a relatively narrow range of $55,000 to $75,000 during the current quarter, while the adoption of cryptocurrencies in traditional finance continues.

Novogratz also believes that the market may remain in a similar state during the current and next quarters until two potential inflection points occur: the Federal Reserve begins to cut interest rates (which usually indicates an economic slowdown) or the elections conclude (which could bring a certain degree of clarity to the cryptocurrency regulatory environment).