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Bitcoin still hasn't hit $100,000 when adjusted for inflation: Galaxy's Alex Thorn
Key Takeaways (30s Read)
Bitcoin, when adjusted for inflation, has yet to reach $100,000, according to Galaxy's Alex Thorn.
Alex Thorn from Galaxy noted that Bitcoin's price peaked at $99,848 in 2023 when adjusted to 2020 dollars. This highlights that despite the recent surges, Bitcoin has not yet reached the psychologically significant $100,000 mark when considering inflation. The market remains volatile, influenced by broader economic factors and central bank policies, creating a mixed sentiment among investors. As Bitcoin continues its journey, it’s essential for traders to watch for price corrections and market responses to global financial trends.
AI Analyst
AI Opinion
"The current market for Bitcoin is significantly affected by inflation and central bank policies, making it essential for investors to analyze these factors closely. The peak value of $99,848 captures the reality of asset valuation in today's economic climate, underscoring the importance of understanding inflation-adjusted prices. If there is a market downturn, it could have a ripple effect across the wider market, making risk management crucial. Currently, the sentiment is mixed, and for sustainable growth, it’s vital to monitor governmental policies and economic conditions."
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