In a recent analysis, Alex Thorn, head of research at Galaxy Digital, sheds light on Bitcoin's October all-time high, revealing a significant adjustment when considering inflation. According to the results published in the material, this insight challenges the perception of Bitcoin's value and its psychological milestones.
Bitcoin's Peak and Inflation Adjustment
Thorn points out that while Bitcoin reached an impressive peak of $126,000, this figure drops to $99,848 when adjusted for inflation based on 2020 dollar values. This adjustment highlights that Bitcoin has not officially surpassed the crucial $100,000 threshold, a milestone that many investors have been eagerly anticipating.
The Impact of Inflation on Cryptocurrency
The analysis underscores the impact of inflation on the cryptocurrency market, particularly since the onset of the pandemic in 2020. As the dollar's purchasing power continues to decline, Thorn's findings serve as a reminder of the importance of considering inflation when evaluating asset values in today's economic climate.
In light of the recent analysis on Bitcoin's inflation-adjusted value, Upexi is now facing a significant challenge as its Solana treasury has experienced a drastic decline. For more details, see the full report on Upexi's situation here.
