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Galaxy Research Head: Bitcoin Year-End Price Target Revised Downward from $185,000 to $120,000
BlockBeats News, November 5th, according to a CoinDesk report, Galaxy Digital's Head of Research, Alex Thorn, wrote in a report to clients on Wednesday morning: "While Bitcoin's structural investment thesis remains solid, the cyclical dynamic has shifted."
Thorn pointed out that multiple factors have created market resistance, including: whale distribution patterns, waning interest in Bitcoin-related investments, capital rotation into gold, artificial intelligence (AI), stablecoins, and other investment themes, as well as the emergence of "listlessness" in corporate treasuries. Therefore, he has revised Bitcoin's year-end target from $185,000 to $120,000.
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