Bitcoin Unlikely to Fall Below $60K: Nansen Founder

Nansen founder Alex Svanevik says that Bitcoin (BTC) is unlikely to fall back below $60,000.

The price of Bitcoin has been moving mostly sideways after falling below $60,000 in early February and rebounding later. However, Svanevik believes that the area around $60,000 could be the low point of the current BTC cycle.

Svanevik attributes this to Bitcoin's role as a hedge against expanded central bank money issuance, which he expects will continue for some time.