Galaxy Digital Head of Research: Early-Year Optimism for Bitcoin Has Faded, Investors Shift Focus to AI and Other Sectors

ChainCatcher news, according to Cointelegraph, Galaxy Digital Head of Research Alex Thorn stated in an interview with CNBC that at the beginning of the year, optimism about bitcoin was much higher than it is now, but this cryptocurrency may soon regain its momentum.

Thorn noted that investors have shifted their focus to fields such as artificial intelligence, nuclear energy, quantum technology, and gold. "There are many other areas to gain returns this year, which has hindered investors' allocation to bitcoin." Although Thorn remains bullish on bitcoin in the long term, he has lowered his year-end price target for bitcoin from $185,000 to $120,000.