Galaxy Digital’s senior executive: BTC rate could reach $150 000 after recent pullback

According to Jason Urban, cryptocurrency users need “healthy price discovery and healthy market action”

20.03.2024 - 10:30

1 min

What’s new? The head of trading at crypto investment firm Galaxy Digital, Jason Urban, has said to CNBC that the bitcoin exchange rate could reach $125 000. The expert also hopes that the asset will rise to the $150 000 mark after some time needed to regain momentum after the recent pullback.

CNBC’s interview

What else is known? Urban noted that reaching $150 000 is realistic, but it is also important how bitcoin arrives at that mark. He explained that cryptocurrency users need a “healthy price discovery and healthy market action.”

“And so a little bit of a retracement here off of the $73 000 highs, I think you’re going to see a steady build,” the specialist added.

Bitcoin hit an all-time high above $73 600 on March 14 but has now corrected 14% to trade at $63 152.

Earlier, Bernstein said that the massive influx of institutional investors into the crypto market could increase its capitalization to $7,5 trillion by 2025.

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