When Bitcoin Price Could Reach $150,000
Pantera Capital, the fifth-largest crypto hedge fund, has projected a $148,000 price target for Bitcoin after its next halving event. Here are the key points:
– Pantera Capital analyzed Bitcoin’s past halving events and noted the longest period of negative returns lasted 15 months.
– The firm believes recent positive developments in the crypto space and the upcoming halving in April 2024 create potential for a bull market.
– The halving event is a significant event in the Bitcoin ecosystem, cutting the block reward in half every four years.
– Pantera predicts that Bitcoin should have bottomed in December 2022 and expects the price to rise leading up to the halving and explode afterwards.
– Their stock-to-flow price projection model suggests a price of $35,000 before the halving and $148,000 after.
Fundstrat’s Tom Lee also predicts a $150,000 price point for Bitcoin after the next halving. At the time of writing, Bitcoin is trading at $26,537.
Hot Take
Pantera Capital’s projection of a $148,000 price target for Bitcoin after its next halving event aligns with other bullish forecasts in the Bitcoin space. With positive developments in the crypto industry and the scarcity of Bitcoin due to halving, the potential for a significant price increase is promising. However, it’s important to note that cryptocurrency markets are highly volatile and subject to various factors that can influence price movements.
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