Bitcoin to $148,000 after the upcoming halving, say representatives of Pantera Capital

Bitcoin to $148,000 after the upcoming halving, say representatives of Pantera Capital

Great expectations are attached to the future of Bitcoin, and one market event is generating particular enthusiasm. It is, of course, about the upcoming halving, which many experts believe could have a huge impact on the price of the king of cryptocurrencies. The investment company Pantera Capital predicts a spectacular increase in the value of BTC. In doing so, it is worth remembering that Pantera analysts have often been right.

Bitcoin’s halving determines increases

Bitcoin’s price history shows a clear dependence on halving cycles. Pantera’s published “Blockchain Letter” emphasizes that cycles are a key factor influencing the behavior of cryptocurrency prices. Pantera analyzes previous events and notes that each has its own characteristic phases. Prior to the previous halving, bitcoin reached its historical minimum some 477 days earlier, before rising sharply and reaching a peak. This is just the beginning, as halving was followed by an average 480-day period of increases, known as the “bull cycle.”

This scenario is also expected to repeat itself in the context of a future halving, which is expected to occur in April 2024. Around that event, the company expects Bitcoin’s value to jump to $35,000, and later even to an impressive $148,000. The argument for this scenario is that as the halving date approaches, miners’ rewards will be cut in half. This, in turn, results in a decrease in the supply of new Bitcoin, which, combined with continued demand, could lead to a surge in prices.

Is halving already evident in the price of BTC?

However, it is important to remember that the cryptocurrency market is extremely dynamic and full of surprises. The theory of efficient markets suggests that the impact of halving on the price of Bitcoin has already been largely priced in. However, this is not the only factor that could have a significant impact on the value of the cryptocurrency.

Pantera Capital also draws attention to other aspects. The XRP ruling, as well as the potential use of a Bitcoin exchange-traded fund by BlackRock, could further boost the value of the digital asset.

More and more bullish predictions

In recent days, not only representatives of Pantera Capital have been publishing positive predictions for the value of Bitcoin. Other economists and market experts are doing so as well. Standard Chartered, a UK-based international bank, predicts Bitcoin will rise to $120,000 by 2025. Meanwhile, the author of the bestseller “Rich Father, Poor Father,” Robert Kiyosaki, who has been an active market watcher for years, has doubled his forecast to a psychological $100,000.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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