Mike Novogratz, the CEO and founder of Galaxy Digital Holdings Limited, said Wednesday that Bitcoin could close the quarter at $30,000, citing the fear of missing out (FoMO) among investors and the general excitement around the flagship crypto.

It’s not the first time that the crypto enthusiast is betting big on bitcoin. He once forecasted that the digital currency could climb as high as $500,000 in 2024 before downsizing the prediction, saying it might not happen within five years. Novogratz partly blamed the action of the Federal Reserve in light of the rising rate hikes.

As reported by ZyCrypto, bitcoin has been moving lately in line with the investors’ sentiment amid fears of higher borrowing rates. When the Fed raised the rate by 25 basis points at the beginning of the month, BTC responded, rising to $24,157, according to data by CoinMarketCap. After retracing to $21k on Valentine’s day, the price is looking up, trading at $23,901 at press time.