Crypto hedge fund Pantera Capital has shared its latest prediction for the price of Bitcoin (BTC). According to Pantera Capital, the largest cryptocurrency is expected to rise to $35,000 before the next block reward halving and then experience a surge, doubling its record.
Pantera Capital Expects $148,000 for Bitcoin
Pantera Capital, a crypto hedge fund, has shared its new price prediction for Bitcoin. Pantera Capital expects the largest cryptocurrency to reach around $35,000 by April 2024 and stay at that level, then surge to $148,000 in the upcoming bull market after the block reward halving.
In the information shared, attention is drawn to the next block reward halving, stating, “The next block reward halving is expected to occur on April 20, 2024. If history repeats itself, Bitcoin could reach $35,000 before the next block reward halving and then surge to $148,000. Historically, Bitcoin has hit its bottom about 477 days before the block reward halving. Generally, it starts to climb towards the block reward halving and then experiences a surge. We have seen in previous years that the block reward halving is a really important period for Bitcoin’s price.”
Pantera Capital CEO: Enough Downturn Has Been Seen
Furthermore, Dan Morehead, the founder and CEO of Pantera Capital, drew attention to a striking reality in his personal X account regarding this prediction. Morehead implied that the downturn in the largest cryptocurrency may have come to an end and stated:
Bitcoin recently experienced the longest negative year-over-year period in its history, lasting for 15 months. The previous longest negative year-over-year period was just under a year. Our view is that we have seen enough downturn and markets can only go down for so long.
