{"id":225897,"date":"2022-04-04T01:00:59","date_gmt":"2022-04-03T19:30:59","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=225897"},"modified":"2022-04-03T20:20:30","modified_gmt":"2022-04-03T14:50:30","slug":"bitcoin-not-rangy-anymore-heres-why-these-exes-are-singing-different-tune","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoin-not-rangy-anymore-heres-why-these-exes-are-singing-different-tune\/","title":{"rendered":"Bitcoin not &#8216;rangy&#8217; anymore? Here&#8217;s why these exes are singing different tune"},"content":{"rendered":"<p>Top Galaxy Digital officials recently <a href=\"https:\/\/seekingalpha.com\/article\/4498975-galaxy-digital-holdings-ltd-brphf-ceo-mike-novogratz-on-q4-2021-results-earnings-call\">spoke<\/a> about the current market trends and adoption volume of Bitcoin in an Earnings Conference Call. The crypto-financial services firm remains bullish on crypto-assets in 2022, especially after a series of positive events for the sector.<\/p>\n<h4>Galaxy headed for glory?<\/h4>\n<p>CEO Mike Novogratz was particularly pleased with the company\u2019s fourth quarter, one which capped off a brilliant year for Galaxy Digital.<\/p>\n<blockquote><p>&#8220;Our Partner&#8217;s Capital at $2.6 billion leaves us one of the most equitized, the strongest balance sheet companies in the crypto space.&#8221;<\/p><\/blockquote>\n<p>In a previous interview, Novogratz had projected a &#8220;rangy&#8221; year for Bitcoin between $30,000 and $50,000. To the joy of many, the tide has turned altogether for him, with the exec adding,<\/p>\n<blockquote><p>&#8220;\u2026. the innovation we&#8217;re seeing in Web 3 and in the Metaverse space, I&#8217;ve gotten more constructive than I was at the beginning of the year. And so it wouldn&#8217;t surprise me to see crypto significantly higher by the end of the year.&#8221;<\/p>\n<figure id=\"attachment_225992\" aria-describedby=\"caption-attachment-225992\" style=\"width: 1153px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/BTCUSD_2022-04-03_19-35-26.png\"><img decoding=\"async\" class=\"wp-image-225992 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/BTCUSD_2022-04-03_19-35-26.png\" alt=\"\" width=\"1153\" height=\"753\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/BTCUSD_2022-04-03_19-35-26.png 1153w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/BTCUSD_2022-04-03_19-35-26-300x196.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/BTCUSD_2022-04-03_19-35-26-1024x669.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/BTCUSD_2022-04-03_19-35-26-768x502.png 768w\" sizes=\"(max-width: 1153px) 100vw, 1153px\" \/><\/a><figcaption id=\"caption-attachment-225992\" class=\"wp-caption-text\">Source: Trading View<\/figcaption><\/figure><\/blockquote>\n<p>Bitcoin&#8217;s bullish performance can be evidenced by its more recent price candlesticks. The RSI indicator, at press time, had a reading of 58.7 &#8211; Suggestive of more upside on the charts.<\/p>\n<p>A series of factors have contributed to the same. For instance, some have argued that the Russian invasion on Ukraine has <a href=\"http:\/\/ambcrypto.com\/bitcoin-war-or-no-war-are-russia-ukraine-tensions-good-for-btc-hodlers\/\">aided<\/a> Bitcoin bulls during the latest rally. There has also been a sustained increase in adoption rates in many countries despite legal ambiguity of crypto-regulations.<\/p>\n<p>The same was highlighted recently by an analysis of blockchain wallet users, an analysis released by Deutsche Bank.<\/p>\n<figure id=\"attachment_225995\" aria-describedby=\"caption-attachment-225995\" style=\"width: 1149px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/Image-03-04-22-at-6.37-PM.jpg\"><img decoding=\"async\" class=\"wp-image-225995 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/Image-03-04-22-at-6.37-PM.jpg\" alt=\"\" width=\"1149\" height=\"557\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/Image-03-04-22-at-6.37-PM.jpg 1149w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/Image-03-04-22-at-6.37-PM-300x145.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/Image-03-04-22-at-6.37-PM-1024x496.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/Image-03-04-22-at-6.37-PM-768x372.jpg 768w\" sizes=\"(max-width: 1149px) 100vw, 1149px\" \/><\/a><figcaption id=\"caption-attachment-225995\" class=\"wp-caption-text\">Source: The Future of Payment by Deutsche Bank Research<\/figcaption><\/figure>\n<p>The forecasted data is beyond promising, with the same pointing to an uncompromising upward trend in the macro landscape for blockchain technology.<\/p>\n<p>Bitcoin, the world&#8217;s largest crypto by market cap, is at the heart of it.<\/p>\n<p>Damien Vanderwilt, Co-President of Galaxy Digital, is also bullish on Bitcoin. And, there is more good reason to be so too. $33 billion were invested in crypto and blockchain start-ups in 2021, more than all previous years combined.<\/p>\n<h4>What is Bitcoin\u2019s 2022 prediction?<\/h4>\n<p>While the year started sluggishly for Bitcoin, it has revelled in recent weeks with the bulls pushing for $50,000.<\/p>\n<p>The importance of Bitcoin in today\u2019s market was further underlined by Glassnode. In its <a href=\"https:\/\/insights.glassnode.com\/the-week-on-chain-week-13-2022\/\">latest<\/a> weekly newsletter, Glassnode shared some good news for investors worried about crypto-volatility. According to the <em>Newsletter<\/em>,<\/p>\n<blockquote><p>&#8220;The longer a coin remains dormant, the more likely it is to remain so.\u201d<\/p><\/blockquote>\n<p>This suggest that investors who have held a coin for more than a year are likely to experience &#8220;wild price swings&#8221; and hence, are likely to be &#8220;higher-conviction HODLers.&#8221; More importantly, the characteristic volatility of Bitcoin is likely to be advantageous for its price movement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top Galaxy Digital officials recently spoke about the current market trends and adoption volume of Bitcoin in an Earnings Conference Call. The crypto-financial services firm remains bullish on crypto-assets in 2022, especially after a series of positive events for the sector. Galaxy headed for glory? CEO Mike Novogratz was particularly pleased with the company\u2019s fourth<a href=\"https:\/\/ambcrypto.com\/bitcoin-not-rangy-anymore-heres-why-these-exes-are-singing-different-tune\/\">Continue reading <span class=\"sr-only\">&#8220;Bitcoin not &#8216;rangy&#8217; anymore? Here&#8217;s why these exes are singing different tune&#8221;<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":225898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-225897","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin not &#039;rangy&#039; anymore? Here&#039;s why these exes are singing different tune - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Damien Vanderwilt, Co-President of Galaxy Digital, is also bullish on Bitcoin. And, there is more good reason to be so too. $33 billion...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/bitcoin-not-rangy-anymore-heres-why-these-exes-are-singing-different-tune\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin not &#039;rangy&#039; anymore? Here&#039;s why these exes are singing different tune - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Top Galaxy Digital officials recently spoke about the current market trends and adoption volume of Bitcoin in an Earnings Conference Call. 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