Pantera Capital Predicts Bitcoin to Reach $148,000 by 2025
Pantera Capital, a prominent US hedge fund specializing in cryptocurrencies, released its latest “Blockchain Letter” report. The report reaffirms Pantera’s optimistic outlook on Bitcoin’s price for 2024 and beyond, while also discussing the anticipated effects of the upcoming Bitcoin halving in April 2023.
Key Points:
– Pantera predicts Bitcoin’s value will rise to $35,000 before the halving and reach an impressive $148,000 after it.
– The next halving is expected to take place on April 20, 2024, and each halving is anticipated to have a smaller reduction in new supply due to most bitcoins already being in circulation.
– Previous halving events have had a significant impact on Bitcoin’s price, with the 2016 halving reducing the supply of new coins by one-third compared to the 2012 event.
– Bitcoin tends to experience a cycle of low and high lengths of time leading up to and following each block subsidy halving, with post-halving rallies lasting an average of 480 days.
– Pantera suggests that the current price cycle bottom for Bitcoin occurred in December 2022, indicating that BTC could be trending towards the $35,000 mark by the time of the next halving.
Hot Take: Pantera Capital’s report presents an optimistic long-term forecast for Bitcoin, predicting a substantial price increase to $148,000 by 2025. While past performance is not indicative of future results, their analysis of previous halving events and price patterns provides valuable insights for crypto investors. However, it’s important to remember that investing in cryptocurrencies carries risks, and this information should not be taken as investment advice.
Source: Finbold
By
By
By
By