Alex Svanevik (알렉스 스바네빅), founder and chief executive of Nansen, forecast that bitcoin would not fall below $60,000 again. Cointelegraph reported on Aug. 8 that Svanevik said the area around $60,000 could be the low point of the current bitcoin cycle.

Svanevik said bitcoin serves as a hedge against expanded central bank money issuance. He also expected the phase of global monetary expansion would not end for some time.

Bitcoin rebounded after falling to around $60,000 in early February. It later slipped below that level again and has recently moved mostly sideways.

Svanevik said the crypto market is shedding an image of “high returns in a short time” built over more than 10 years. He said blockchain had remained in a crypto-focused “toy world,” but is now shifting to a “real world” where tokenised stocks, indices such as the S&P 500 and hyperliquid trading take place. He said blockchain is expanding space for assets beyond cryptocurrencies to enter.

He singled out Solana and Hyperliquid. He rejected a view that Solana is a chain only for memecoins and cited the ecosystem-leading team’s business development capability as a strength. He said he would not predict the price trend over the next 12 months even though Solana has fallen 9.60 percent over the past 30 days.

Svanevik also gave a positive assessment of Robinhood Chain, an Ethereum layer-2 network launched on July 1 this year. He said Robinhood Chain could emerge as a major competitor to Base, but he viewed the likelihood of it issuing its own token as low. He said Robinhood does not need a token structure to attract a user base and, as a Nasdaq-listed company, it has little incentive to offer a product that would compete with its own shares.