- According to hedge fund manager Pantera Capital, Bitcoin will reach nearly $150,000 during the next four-year halving cycle.
- What will happen over the next 480 days includes not only a new all-time high, but much more.
- Among optimistic predictions, the “Lowest Forward Price” metric, which shows that BTC/USD will exceed $100,000 by 2026, is taken into account.
According to the latest reports published by Pantera Capital, the world’s largest crypto hedge fund, the price of Bitcoin could rise to $150,000 after the halving.
Pantera Capital’s Prediction for Bitcoin Price
According to Pantera Capital, Bitcoin will reach nearly $150,000 during the next four-year halving cycle. In the latest “Blockchain Letter” published on August 22, the crypto asset manager’s officials emphasized bullish price predictions for 2024 and beyond.
Pantera Capital argues that Bitcoin price performance is largely dependent on halving cycles and, with the next halving expected to occur within the next twelve months, the firm is betting that historical trends will continue.
They point out that BTC/USD sets cycle bottom and peak levels at approximately equal intervals, with each block reward halving that reduces the amount of Bitcoin paid to miners by 50%. Pantera said the following;
“Bitcoin historically bottomed 477 days before the halving, rallied into the halving, and then exploded upward. The rallies post-halving have averaged 480 days – to the peak of that bull cycle after the halving.”
The same theory suggests that the current BTC price cycle’s bottom is indicated by the December 30, 2022, bear market bottom, and adds the following;
“IF history were to repeat, Bitcoin’s price should be seen bottoming on December 30, 2022.”
Looking to the future, when the April 2024 halving date arrives, BTC/USD could be trading at around $35,000 – which is still on track.
However, what will happen over the next 480 days includes not only a new all-time high, but much more. Pantera provides a detailed explanation of the halving;
“The 2016 halving reduced new Bitcoin supply by only a third compared to the first. Interestingly, it had exactly a third of the impact on price. The 2020 halving reduced new Bitcoin supply by 43% compared to the previous one. Its impact on price was as much as 23%.”
Pantera refers to the halving date and price prediction, stating, “The next halving is expected to occur on April 20, 2024. Because most Bitcoin is already in circulation, each halving will be almost exactly half of the new supply. IF history were to repeat, Bitcoin could exceed $35,000 before the next halving and rise to $148,000 after the halving.”
From the April 2024 halving onwards, the next 480 days appear to be a date when Bitcoin will hit its highest level of all time by July 2025.
Bitcoin Bulls Could Expect 4x Gains.
Pantera is not alone in predicting six-figure BTC price peaks in the years to come. Among optimistic predictions, the “Lowest Forward Price” metric, which shows that BTC/USD will exceed $100,000 by 2026, is taken into account.
Others also believe that $100,000 is possible, but not before the halving next year.
