- Nansen’s founder named the price below which bitcoin will not fall again.
- According to him, the asset will not see $60,000 again, and could even go on to reach $1 million.
- He explained his forecast by the role of the first cryptocurrency in protecting against money debasement.
Alex Svanevik, founder and CEO of blockchain analytics firm Nansen, said bitcoin is unlikely to ever drop below $60,000 again. In his view, the crypto market is gradually shifting from a speculative model to using blockchain for real-world assets, while bitcoin accumulation by large investors and demand for digital assets could support its price.
On the Trade Secrets, @nansen_ai CEO Alex Svanevik @ASvanevik says Bitcoin at $1M could quickly become the new normal once it happens.
— Cointelegraph (@Cointelegraph) August 7, 2026
“It sounds crazy to say Bitcoin at $1M from our vantage point, but I'm sure it sounded crazy to say $100,000 in 2018.”
How far can Bitcoin go… pic.twitter.com/zp9eHRQ9Jb
“My personal view is that I don’t think Bitcoin’s gonna go back below $60,000. I think that’s the past […] I think forever,” Svanevik said.
He links his stance to bitcoin’s role as a hedge against central banks expanding the money supply. He also suggests that the global cycle of monetary expansion is unlikely to end anytime soon.
CryptoQuant also provided an additional signal for the market. According to the analysts, the behavior of large holders near the realized price of accumulation addresses — around $70,000 — matters more. This level could become a decision zone: if large holders continue accumulating, it may indicate sustained long-term demand.
Market sentiment is also influenced by Strategy’s actions, as it sold 1,638 BTC for $104.73 million, directing the proceeds toward paying dividends on preferred shares and buying back STRC securities.
Company co-founder Michael Saylor explained that his well-known call to “never sell bitcoin” applies to his personal holdings, not the strategy of a public company.
At the same time, in the long run, Svenevik allows for a much higher valuation of the first cryptocurrency. He said that bitcoin at $1 million could quickly become the new normal if the asset reaches that level.
“It sounds crazy to say Bitcoin at $1M from our vantage point, but I’m sure it sounded crazy to say $100,000 in 2018,” the Nansen CEO noted.
Svanevik Called Solana Undervalued due to Memecoins
Separately, the Nansen CEO commented on Solana, saying that the perception of the blockchain as a platform mainly for memecoins is mistaken.
He praised the project team and its ability to grow the ecosystem. At the same time, the expert declined to make a specific forecast for the coin’s price over the next 12 months.
Svenevik also views Hyperliquid’s prospects positively and, in general, considers the crypto industry’s shift toward tokenizing traditional assets to be an important trend.
“Crypto assets have kind of been like the ‘toy world’ era of blockchains. And now we’re moving into the real-world era, where you see tokenized stocks, you see people trading indices like the S&P 500 and Hyperliquid,” he noted.
As for Robinhood Chain, which launched on July 1, 2026, Svanevik called it a potential competitor to Base. In his view, the network’s advantage is Robinhood’s large audience.
At the same time, the Nansen CEO doubts that Robinhood needs its own token. According to him, the company has already managed to attract a significant number of users without it, and launching a separate asset could compete with Robinhood shares.
“They clearly don’t need to, right? A lot of projects launched tokens as a way to bootstrap excitement in a user base,” Svenevik explained.
Recall that after the launch of its own network, the real-world asset tokenization sector grew by almost sevenfold in less than a month.
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