Galaxy Digital Research Head Alex Thorn: BTC year-end price target lowered from $185,000 to $120,000, but remains optimistic about long-term potential.

In an interview with CNBC, Alex Thorn, head of research at Galaxy Digital, stated that while there was strong optimism surrounding Bitcoin at the beginning of the year, attention has been somewhat diverted as investors have shifted their focus to areas such as AI, nuclear energy, quantum technology, and gold. He emphasized that "attention will come back to Bitcoin, it always does," and believes Bitcoin is entering a more mature era. Thorn remains bullish on Bitcoin in the long term but has lowered Galaxy Digital's year-end price target from $185,000 to $120,000. He also mentioned that recent comments from JPMorgan analysts suggest that increased volatility in gold makes Bitcoin relatively more attractive. (Cointelegraph)