- A blog post was published by Pantera Capital as a letter to the investors of the company.
- It was written by Dan Morehead and suggested that BTC could climb higher than $115,000 by August next year.
- He based his prediction on the trajectory that bitcoin is currently on.
A blog post was published earlier this week on the 4th of May by Pantera Capital as a letter to the investors of the company. It was written by the founder and CEO of the company, Dan Morehead and suggested that BTC could climb higher than $115,000 by August next year.
He based his prediction on the trajectory that bitcoin is currently on. And going by the previous halvings, he says that bitcoin bottoms out 459 days before the event takes place. He goes on to add that the currency will start to rise and then explode after the event takes place.
He then goes on to explain his prediction saying that the coin will peak during this time.
“The reduction in supply is only 40% as great as in 2016. If this relationship holds…Bitcoin would peak at $115,212/BTC.”
The CEO further went on to explain that people may see his prediction as unbelievable. To this, he says:
“I realize that price may sound ludicrous to some today. But, $5,000 sounded equally ludicrous as our first written forecast when we launched Pantera Bitcoin Fund at $65/BTC…Just sayin’ that there’s more than a 50-50 chance Bitcoin goes up – and goes up big”.
The CEO of one of the biggest crypto platforms in the world, CZ responded to the prediction on Twitter. In anticipation before the halving event next week, CZ says that the prediction was “so precise”.
so precise.— CZ Binance 🔶🔶🔶 (@cz_binance) May 6, 2020