Galaxy Digital predicts Bitcoin's ATH before the next crypto Halving!
Bitcoin has historically reached new heights following the crypto Halving, which reduces miner rewards by 50%. However, Galaxy Digital’s Alex Thorn believes that the recent launch of a spot Bitcoin ETF in the United States could accelerate the cycle this time around.
Alex Thorn’s View on an Imminent Bitcoin Record
Alex Thorn, an executive at the financial services crypto company Galaxy Digital, believes that bitcoin could set a new record sooner than in previous cycles. In a recent post, Thorn stated that BTC could reach a new ATH before the Halving scheduled for April 2024.
Historically, bitcoin reaches new highs after the crypto Halving. However, Thorn believes that the recent launch of Bitcoin ETFs in the United States is a game-changer. According to him, the introduction of ETFs is a significant shift that will disrupt everything we know about BTC price cycles.
Thorn thinks that bitcoin could hit a new ATH within just a few weeks, while predicting that crypto adoption will continue to fuel the cycle well beyond the Halving in April 2024. He estimates that we haven’t even begun to see the peaks that bitcoin is likely to reach thanks to ETFs.
Why This Cycle Is Different
Some fear that the current bitcoin cycle could be accelerated compared to previous cycles. The idea is that the increase we’ve seen over the last year might already constitute the bullish phase expected after the crypto halving.
If bitcoin sets a new ATH before April 2024, it could reinforce this perspective for some. However, Alex Thorn categorically rejects this idea. In his opinion, the arrival of ETFs in the United States fundamentally changes the situation.
What to Expect for the Future of Crypto?
With the launch of ETFs, Thorn believes we haven’t seen anything yet in terms of price. Even if bitcoin breaks records before the 2024 Halving, he thinks that the true bullish potential of crypto has not yet been unleashed.
Thorn points out that the inflows into Bitcoin ETFs are just beginning. In addition, big investors are starting to talk about bitcoin as a hedge against inflation, on par with gold or Treasury bonds.
The bitcoin market could well surprise by establishing new records sooner than expected in this cycle. According to experts like Alex Thorn, the introduction of ETFs is a game-changer. Even if a new ATH is reached soon, it would only be the beginning of a massive new bullish phase for crypto. The long-term potential of bitcoin as a digital store of value remains intact.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.