Bitcoin's Record High: 🚀 Galaxy Digital Exec Predicts Sooner Surge! 📈

Alex Thorn of Galaxy Digital Predicts Bitcoin Could Reach New ATH Sooner Than Expected

Alex Thorn, an executive at crypto financial services firm Galaxy Digital, believes that Bitcoin (BTC) may reach a new record high earlier than in previous cycles. He suggests that the recent launch of spot Bitcoin exchange-traded funds (ETFs) is changing the nature of the cycle, potentially accelerating the timeline for a new all-time high (ATH).

Bitcoin’s Historical ATH and Halving Event

Bitcoin has historically reached a new ATH after the halving event, which occurs when miners’ rewards are cut in half. However, Thorn argues that the introduction of Bitcoin ETFs in the United States is a game changer that will disrupt traditional understanding of Bitcoin price cycles and holder behavior. He believes this shift could lead to a new ATH before the scheduled halving event in April.

Thorn’s Perspective on the Current Cycle

Thorn addresses concerns that this cycle may be different from previous ones and that the recent bull run could be the main surge. He dismisses this idea and asserts that Bitcoin’s current trajectory is unique due to the emergence of Bitcoin ETFs. He anticipates that adoption will continue to drive Bitcoin’s price upward well beyond the halving event.

Predicting a New ATH

Thorn confidently predicts that Bitcoin will reach a new ATH within weeks. He attributes this forecast to the growing popularity of Bitcoin ETFs and increasing institutional flows into cryptocurrencies. Thorn highlights how Bitcoin is being discussed alongside gold and treasuries as a macro hedge asset, indicating its growing mainstream acceptance.

Bitcoin’s Current Price

At the time of writing, Bitcoin is trading at $61,620, just below its ATH of approximately $69,000.

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Hot Take: Bitcoin’s Unprecedented Potential for a New ATH

Alex Thorn of Galaxy Digital believes that Bitcoin is poised to reach a new all-time high earlier than expected. He argues that the introduction of Bitcoin ETFs in the United States has fundamentally changed the dynamics of the market cycle. This paradigm shift, combined with increasing adoption and institutional interest, is driving Bitcoin’s price upward. Thorn confidently predicts that a new ATH will be achieved within weeks, surpassing previous cycles. As Bitcoin gains recognition as a macro hedge asset alongside gold and treasuries, its mainstream acceptance is growing rapidly. According to Thorn, this is just the beginning of an exciting journey for Bitcoin.