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Bitcoin Price May Hit $1 Million: Nansen CEO Predicts

Guavy AI Editorial Team
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BTC
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Nansen CEO Alex Svanevik is confident that Bitcoin will not drop below $60,000 again. He believes this threshold has been passed and thinks it's 'forever.'

The cryptocurrency market is shifting towards using blockchain for real assets, with growing demand for digital assets and accumulation by large investors contributing to price stability. Svanevik sees Bitcoin as a hedge against inflation driven by central banks' money supply increase.

CryptoQuant analysts point out that large Bitcoin holders are buying the asset near the realized price of accumulation addresses around $70,000. This could indicate sustained long-term demand.

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