Digital assets-focused funding agency Pantera Capital has the conviction that Bitcoin (BTC) will spark a parabolic bull run after the halving occasion subsequent yr.
In its newest blockchain letter, the agency, which has $3.5 billion in property beneath administration, says Bitcoin will seemingly enhance by greater than 466% from its present worth, hitting six figures for the primary time in its historical past someday in mid-2025.
Says the agency,
“Bitcoin has traditionally bottomed 477 days previous to the halving, climbed main into it, after which exploded to the upside afterward. The post-halving rallies have averaged 480 days – from the halving to the height of that subsequent bull cycle. IF historical past have been to repeat itself, the worth of Bitcoin ought to have troughed December 30, 2022.”
The agency predicts Bitcoin will hit $147,843 round August 13, 2025, 480 days after the subsequent anticipated halving occasion on April 20, 2024. Pantera additionally says that primarily based on Bitcoin’s historic habits, the king crypto will grind as much as $35,000 main into the halving occasion when miners’ rewards are reduce in half.
“The 2016 halving decreased the provision of recent Bitcoins solely one-third as a lot as the primary. Apparently, it had precisely one-third of the worth affect. The 2020 halving lowered the provision of recent Bitcoins by 43% relative to the earlier halving. It had a 23% as huge an affect on worth.
The subsequent halving is predicted to happen on April 20, 2024. Since most Bitcoins at the moment are in circulation, every halving can be nearly precisely half as huge a discount in new provide. If historical past have been to repeat itself, the subsequent halving would see Bitcoin rising to $35,000 earlier than the halving and $148,000 after.”
The agency made the same prediction final yr.
Bitcoin is buying and selling for $26,102 at time of writing, down 0.1% within the final 24 hours.
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