Galaxy's Leading Researcher Predicts Bitcoin Will Reach $250K by 2027

Alex Thorn, the head of research at Galaxy Digital, has forecasted that Bitcoin could hit an impressive $250,000 by the end of 2027. However, he has also expressed that predicting the price movements of Bitcoin in 2026 presents a significant challenge.

Key Takeaways

Bitcoin Forecast: Alex Thorn predicts Bitcoin could reach $250,000 by the end of 2027.
Market Uncertainty: Predictions for 2026's Bitcoin price are highly uncertain, with equally likely outcomes of hitting $50,000 or $250,000.
Market Sentiment Shift: Current options market behaviors indicate a shift from optimistic to protective trading strategies.
Maturing Asset: Thorn suggests Bitcoin is evolving into a more established financial asset with reduced volatility.
Potential for Hedge: Over the next two years, Bitcoin may be widely adopted as a hedge against inflation, similar to gold.

Galaxy's Top Researcher Reveals When Bitcoin Will Hit $250K

According to Thorn, the options markets currently suggest there are equal chances of Bitcoin reaching either $50,000 or $250,000 by the end of next year. He commented on the uncertainty surrounding Bitcoin's immediate future, mentioning that the broader cryptocurrency market is presently experiencing a bear market, with Bitcoin struggling to regain its bullish momentum.

In addition to the unpredictable market conditions, Thorn highlighted that upcoming U.S. midterm elections could further contribute to uncertainty. He also pointed out that Bitcoin is evolving from a speculative asset to one that is more mature in nature. "Throughout the year, we have observed a structural reduction in longer-term Bitcoin volatility," he noted.

Just six months ago, traders were paying more for call options than put options, driven by a fear of missing out (FOMO) on a major rally. Currently, the situation has shifted; put options are now more expensive than call options, indicating a change in market sentiment. Traders appear more focused on safeguarding their investments against a potential crash rather than anticipating a rally.

Thorn explains that Bitcoin seems to be transitioning from a volatility profile typical of emerging markets to one more akin to established macro assets. He believes that it is "very possible" that Bitcoin will follow gold's lead and gain widespread adoption as a hedge against monetary debasement within the next couple of years.