- Popular investment firm Pantera Capital made their own predictions regarding Bitcoin price.
- They say Bitcoin will reach $35k before halving. Also, they predict Bitcoin will reach $148k after the halving.
Bitcoin is the apex cryptocurrency and always receives a large chunk of attention. Apparently, the Bitcoin halving countdown is bringing up a lot of conversation among financial firms. One of them, Pantera Capital, believes Bitcoin will reach a new all-time high after the halving.
Pantera Capital Makes a Huge Call on Bitcoin
- Many individuals and organizations predicted Bitcoin price since the heavy price volatility engulfed the apex cryptocurrency. Apparently, many predictions people make center around the Bitcoin halving. Many believe Bitcoin will touch new levels, assuming the SEC approves the spot Bitcoin ETF application too.
- The same applies to this investment firm named Pantera Capital. So, this investment firm made its own predictions regarding Bitcoin price. Their prediction is generally bullish on the cryptocurrency. Nevertheless, they are also bringing the spot Bitcoin ETF into the scene.
- According to Pantera Capital, Bitcoin can touch new levels before the next halving. However, they believe the price increase will come in stages. First, they don’t expect a huge price increase before halving. They believe the price of Bitcoin will reach the maximum of $35,000 before halving.
- This investment firm’s Bitcoin price prediction after the halving is quite huge. They believe Bitcoin’s price will reach $148,000 after the halving. The Bitcoin halving should come around April 2024. Apparently, this new prediction from Pantera Capital aligns with another investment firm, Fundrate. They said Bitcoin price might touch $150k if spot Bitcoin ETF gets approval.
Pantera Capital Prediction: Bitcoin Price and the Halving Effect
- At the time of writing, Bitcoin price is just trying to keep up the $26k level. Apparently, the apex cryptocurrency enjoyed some bullish trends before getting another dose of bears. There’s a price decrease of close to 1%. On the weekly charts, there’s no change as the price is down by more than 7 %. The monthly chart is the worst at more than 10%.
- While Bitcoin’s price looks bleak, many expect the halving to do wonders. Halving occurs every four years for proof-of-work cryptocurrencies. The effect of this occurrence is that it reduces the amount of rewards miners earn. Therefore, it also makes cryptocurrency scarce. The same thing applies to Bitcoin, as the amount of rewards earned will reduce. Furthermore, this event will make Bitcoin more scarce. Moreover, the historical data shows Bitcoin always performs well after halving.
Conclusion
Many large institutions, such as Pantera Capital, are now sharing their thoughts and predictions regarding Bitcoin price. Apparently, they believe Bitcoin will have a radical price change after the halving. Bitcoin halving is an event that reduces the block rewards miners get from the activity. Pantera Capital says Bitcoin will see its price climb to $148k after the halving event.
