Price Prediction
Galaxy Digital: Time to Accumulate Bitcoin
Galaxy Digital, a U.S. financial firm, argues that the bear market in bitcoin ended in June, and the cryptocurrency is now in an accumulation phase that has preceded previous advances. Head of firmwide research Alex Thorn suggests that bitcoin is attractive to accumulate due to improving price trends, reduced selling pressure, and rising U.S. debt risks. Bitcoin's price has recovered to around $80,000 from its June low of under $58,000, and a return to the record high of over $126,000 would require a gain of approximately 53%.