The $69,000 Bitcoin Question: Expert Forecasts When Price Will Breakout
Summary
Bitcoin nears all-time high, with Alex Thorn of Galaxy sharing insights. Recent volatility saw price hit $69,324, then drop 14.3% to $59,224, before rebounding to $67,000. Thorn compares this to 2020's resistance before a surge. He notes 13 drawdowns of 12%+ in 2017 and 13 of 10%+ in 2020. Bitcoin had two 15%+ retracements since ETF launch. Movement of long-held Bitcoin and significant capital inflows into Bitcoin ETFs indicate growing interest and confidence. Thorn remains bullish on Bitcoin's future, expecting non-linear progression and potential growth despite hurdles. He suggests a potential phase of consolidation before a definitive breakout. BTC stands at $66,821.
