Mike Novogratz: Ethereum Will Rise To $2,200 Ahead Of The Merge. “Ethereum is at the top of its range,” the Galaxy Digital Holdings CEO claims.
Recently in an interview done with Bloomberg TV, Mike Novogratz, the billionaire who founded crypto financial services firm Galaxy Digital Holdings Ltd, announced his views and predictions on both Bitcoin and Ethereum.
Novogratz claims he predicts Bitcoin to remain within its current range price of $20,000 to $22,000, but that he doesn’t expect BTC to exceed a price of $30,000 anytime soon.
“Will Bitcoin get through $30,000 on this move up? We will see — I’m doubtful. I think we’re going to probably be in this range now. I quite frankly would be happy if we’re in a $20,000, $22,000 or $30,000 range for a while,” he stated
He did, however, express his bullish views on the Ethereum token following the upcoming ETH merge this September. He says that with the merge from Proof of Work to Proof of Stake finally taking place after being discussed for many years, all the hype and excitement over this event will drive the price higher.
“I think the Ethereum Merge is a really big story, and that gives energy to the space, it’s gonna reduce the supply of Ethereum that’s sold every day dramatically, it’s gonna reduce the inflation rate. And so I think Ethereum has a real story.” Novogratz explains.
With all the excitement and attention on Ethereum these past few months, Novogratz couldn’t help but compare the two tokens, claiming that Ethereum will be far more successful in its rise throughout this period leading up to the merge.
“Ethereum’s got a little bit more juice,” he says, comparing Ethereum to Bitcoin, “[Ethereum] is at the top of it’s range, it could take, you know, takes out $2,200, it could go higher.“
The ETH Merge
With the Ethereum merge to proof-of-stake consensus finally taking place this September, there have been many talks in the community about what type of effects this will have.
Many talks have been made about Ethereum, from how the Merge will help in driving crypto prices for other tokens like Polygon’s MATIC, all the way to the fact that the ETH merge will help drive the adoption of crypto payments in daily life, the community can’t help but anticipate the merge that could mark the start of a big change in the world of blockchain.