Mike Novogratz has commented that the consolidation phase Bitcoin is entering is dragging on, with BTC trading just below $30,500.
He has said in an interview with Bloomberg that as long as trading activity remains low, it would be difficult for BTC to break out of the $28,000 to $32,000 range.
He has predicted that BTC will gain more value in the second half of the year should the Federal Reserve abandon tight monetary policy.
Furthermore, he thinks the launch of Bitcoin-ETF exchange-traded funds from BlackRock Inc. and Invesco could attract larger capital flows to the cryptosphere.
Novogratz has also mentioned his plans to list his company, Galaxy Digital, on the Nasdaq Stock Exchange cooperate with US regulators to comply with their requirements.
