Economist Alex Krüger has suggested that Bitcoin (BTC) may never trade below $60,000 again, assigning a 50% probability to this scenario. This speculation arises following Bitcoin's recent volatility, where it bottomed above $66,815 before recovering to over $68,750. Analysts are divided, with some predicting that upcoming post-election volatility could propel Bitcoin to new all-time highs. Key indicators point towards a floor price of over $40,000, notably the 200-week moving average which crossed this threshold on October 18. Adam Back, CEO of Blockstream, endorsed this view, describing the 200-week moving average as the historical 'floor price' of Bitcoin. Additionally, Bitcoin’s cumulative value coin days destroyed (CVDD) metric suggests a lower absolute market bottom at $26,520. This analysis creates a mixed outlook, balancing between bullish near-term trends and foundational support levels.

Source 🔗