Financial analyst Beth Kindig on Monday, August 24, cited an I/O Fund analysis that projected Bitcoin’s long-term price target at $2 million, despite a weak near-term outlook.

Analysts say consolidation could strengthen bitcoin’s rally, while thin trading above $80,000 may set up sharper price moves.

Financial analyst Beth Kindig on Monday, August 24, cited an I/O Fund analysis that projected Bitcoin’s long-term price target at $2 million, despite a weak near-term outlook.