spot_imgspot_imgspot_img

Bitcoin Price Will Rise to $150,000, But Not Until 2024

  • 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

Pantera-Capital

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.

bitcoin-halving-rallies

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?