Galaxy Digital predicts Bitcoin ATH before the next crypto Halving!

Bitcoin historically reached new highs after the crypto halving, which reduced miner rewards by 50%. However, Galaxy Digital’s Alex Thorn believes the recent launch of spot Bitcoin ETFs in the US could speed up the cycle this time around.

Alex Thorn’s opinion on an impending Bitcoin record

Alex Thorn, an executive at crypto financial services company Galaxy Digital, believes bitcoin could set a new record sooner than in previous cycles. In a recent post, Thorn said that BTC could reach a new ATH before the planned Halving in April 2024.

Historically, bitcoin reaches new records after the crypto halving. However, Thorn believes the recent launch of Bitcoin ETFs in the United States is a game-changer. According to him, the arrival of ETFs is a major change that will shake up everything we know about BTC price cycles.

Thorn believes bitcoin could reach a new ATH in just a few weeks, while predicting that crypto adoption will continue to fuel the cycle well beyond the Halving in April 2024. He believes we haven’t even yet started to see the heights that bitcoin is likely to reach thanks to ETFs.

Why this cycle is different

Some fear that the current bitcoin cycle is accelerated compared to previous cycles. The idea is that the rise we have seen over the past year could already constitute the expected bullish phase after the crypto halving.

If bitcoin sets a new ATH before April 2024, it would strengthen this view for some. However, Alex Thorn categorically rejects this idea. According to him, the arrival of ETFs in the United States fundamentally changes the situation.

What to expect for the future of crypto?

With the launch of ETFs, Thorn believes we haven’t seen anything yet in terms of pricing. Even if bitcoin breaks records before the Halving of 2024, he thinks that the true upside potential of crypto has yet to be tapped.

Thorn points out that inflows into Bitcoin ETFs are only just beginning. Additionally, large investors are starting to talk about bitcoin as a hedge against inflation, just like gold or Treasury bills.

The bitcoin market could well surprise by setting new records earlier than expected in this cycle. The arrival of ETFs is a game-changer according to experts like Alex Thorn. Even if a new ATH is reached soon, it would only be the beginning of a massive new bullish phase for the crypto. The long-term potential of bitcoin as a digital safe haven remains intact.

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