Bitcoin price is heading towards $150,000, says lead fund manager

Bitcoin price is heading towards $150,000, says lead fund manager

According to lead asset manager Pantera Capital, bitcoin (BTC) is on its way to a price of $150,000 per bitcoin. This leaves the crypto asset manager in limbo the news From last Tuesday. These forecasts have been prepared by Pantera Capital based on historical analysis.

Bitcoin price to $150,000

According to Pantera Capital, the Bitcoin price follows relatively predictable cycles. Currently, Bitcoin is following this cycle and if this trend continues, Bitcoin will reach $150,000 during the next cycle top.

The report states that the bottom and top of the Bitcoin cycle occur at roughly the same times. Before and after the Bitcoin halving, respectively. Halving is when the block rewards for mining bitcoin are halved. This happens every four years.

“Historically, bitcoin bottomed out 477 days before the halving. The price spikes in the run-up to this halving and picks up very quickly after the halving.”

According to Pantera Capital. Based on this analysis, the Bitcoin price bottomed out around December 30, 2022. The value of BTC at that time was around $16.5 thousand. At about the halving, the price will be around $35,000, according to Pantera Capital. The 480 days after the halving is when things get really crazy.

“The next halving will take place on April 20, 2024. Since most bitcoins are now in circulation, each halving will lead to a halving in supply. If the date repeats itself, the price of bitcoin will rise to $35,000 before the halving and $148,000 after.”

This new high at all times It will take place in July 2025 based on the length of the previous courses.

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PlanB’s forecast for BTC

Pantera Capital is not alone in this prediction. There is also the well-known stock-to-flow (S2F) model from PlanB, a Dutch analyst. This model studies the relationship between bitcoin production and current stock, and analyzes potential future price developments.

PlanB also notes that the BTC price has, historically, tended to rise after halvings, with the peak occurring between the two halvings. Based on this model, the price of Bitcoin could skyrocket towards the end of 2024 or early 2025. So this model correlates well with Pantera Capital’s forecast.

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