Bitcoin Price Support at $60,000: Nansen Founder Sees Low Point

Alex Svanevik, founder and CEO of Nansen, expects Bitcoin to maintain its current price level above $60,000. According to him, the area around $60,000 could be the low point of the current cycle.

Svanevik attributes Bitcoin's resilience to its role as a hedge against expanded central bank money issuance. He also notes that the global monetary expansion phase is unlikely to end soon.

The cryptocurrency market has recently shifted from focusing on short-term gains to embracing blockchain technology in various aspects, including tokenized stocks and indices like the S&P 500.