The CEO of Galaxy Digital anticipates a resurgence in Bitcoin's value following its recent dip. Mike Novogratz expressed confidence that once the market stabilizes, Bitcoin will regain momentum.

Novogratz emphasized the potential impact of conflicts on Bitcoin's price and expressed hope for peaceful resolutions to prevent significant market fluctuations. He suggested that unless conflicts escalate, Bitcoin could potentially reach new record highs soon.

In addition to geopolitical concerns, the upcoming Bitcoin halving event is expected to have a positive influence on the asset and the broader market. Investor interest in Bitcoin-related assets remains strong, with indications that Hong Kong may soon approve spot Bitcoin ETFs, signaling increasing acceptance of cryptocurrency.

The ongoing conflict between Israel and Hamas has adversely affected the global financial market, leading to a decline in the prices of cryptocurrencies such as Bitcoin, Ethereum, BNB, and Solana. This downturn follows Bitcoin's recent peak at $73,000, driven in part by the SEC's approval of spot Bitcoin ETFs from major companies.

The recent drop in Bitcoin's price to $62,000 is attributed to the conflict between Israel and Hamas, with reports of drone attacks from Iran adding to the downward pressure on Bitcoin and other cryptocurrencies.