Summary
- Alex Svanevik, CEO of Nansen, said Bitcoin (BTC) will not fall below $60,000 again.
- He said Bitcoin prices below $60,000 are now a thing of the past and will remain that way.
- He said continued money supply expansion by central banks and Bitcoin’s role as a hedge underpin that view.
Forecast Trend Report by Period
Bitcoin will not fall below $60,000 again, Nansen Chief Executive Officer Alex Svanevik said.
Svanevik told Cointelegraph on August 8 that he personally does not think Bitcoin will revisit levels below $60,000. Prices under $60,000 are now a thing of the past and will remain that way, he said.
He based that view on the likelihood that central banks around the world will continue expanding the money supply. Bitcoin serves as a hedge against central bank money creation, and the global growth in liquidity is unlikely to end anytime soon, he added.
Uk Jin
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