According to the CEO of Galaxy Digital, Bitcoin's price will go up after dropping to a low recently. Mike Novogratz, the CEO, is confident that Bitcoin will start increasing in value once the market settles down.

In a recent statement, Novogratz mentioned that wars can be costly and hoped for peace to prevent any major impact on the price of Bitcoin. He believes that as long as the conflict doesn't escalate, Bitcoin may reach a new all-time high in the near future.

Aside from the war situation, the upcoming Bitcoin halving event is expected to bring a positive trend to the asset and the market as a whole. Investors are showing interest in Bitcoin-related assets, with Hong Kong considering approving spot Bitcoin ETFs soon, indicating growing acceptance of the cryptocurrency.

The ongoing conflict between Israel and Hamas since October 7, 2023, has had a negative effect on the global financial market, leading to a drop in prices of cryptocurrencies like Bitcoin, Ethereum, BNB, and Solana. This decline in prices comes after Bitcoin reached a new all-time high of $73,000 due to factors like the SEC approving spot Bitcoin ETFs from major companies.

The recent decrease in Bitcoin's price to $62,000 is linked to the conflict between Israel and Hamas, with the Israeli military reporting attacks from Iran involving drones. This has contributed to a downturn in the price of Bitcoin and other cryptocurrencies.