Galaxy Research Lowers Bitcoin Year-End Price Prediction to $130,000
Alex Thorn from Galaxy Research discussed the current state of Bitcoin, highlighting several key points:
- Bitcoin's quiet bull run is attributed to external factors, notably US-China tariff risks, rather than structural issues with the asset.
- The trading dynamics show a shift from older holders to new investors, suggesting market maturation and broader ownership.
- Bitcoin is expected to evolve into an asset akin to gold as institutional ownership increases, moving away from its current risk-based trading behavior.
- The recent tariff scare has temporarily stalled Bitcoin's growth, but resolution could reinvigorate risk markets.
- Galaxy Research adjusted their year-end price prediction for Bitcoin, lowering it to $130,000 due to current market conditions.
- Institutional adoption continues to rise, with major custody banks and financial advisors increasingly offering Bitcoin-related products.
- Thorn emphasized that the Bitcoin market is evolving, not declining, with a focus on endurance over euphoria.
At the time of reporting, BTC traded at $111,183.
