Friday, December 4, 2020
No menu items!
  • News
  • Bitcoin
  • Contact Us
More

    Pantera Capital Founder Foresees Bitcoin (BTC) at Over $500,000 by August 2021

    Must Read

    Over 1,000,000 ETH worth More Than $600,000,000 Locked In Ethereum 2.0 Deposits Contract

    According to the data provided by Etherscan.io, 1,000,000 ETH worth more than $600,000,000 at press time, has been locked...

    Ripple Is Planning To Massively Expand XRP Remittance Platform in 2021

    According to Ripple’s senior vice president of product management and corporate development, Asheesh Birla, the payment firm is planning...

    David Schwartz Says XRP Community Could Force Ripple To Burn Its Over 50 Billion XRP

    Ripple CTO David Schwartz has recently pointed out that the XRP community could force Ripple to burn the over...
    Tobi Loba
    Tobi Loba
    Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to fulfill her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.




    Dan Morehead, the founder and CEO of Pantera Capital, has recently forecasted that Bitcoin (BTC) has more than 50% chance of a parabolic movement, setting his mind on seeing Bitcoin price at over $500,000 by August 2021.

    Dan Morehead, the cryptocurrency hedge fund founder shared this assertion in a letter to investors on 30th April 2020.

    This came as a result of a close examination of the performance of Bitcoin (BTC) in preparation for the periodic halving scheduled to hold on 12th May, in comparison to gold, oil, and venture capital.

    Pantera Capital CEO Predicts $500,000 for Bitcoin (BTC) Price

    In the letter credited to Cointelegraph, the CEO of Pantera Capital averred that if the new supply of bitcoin is cut in half, all else being equal, the price should rise”.

    Adding that “Bitcoin has historically bottomed 459 days prior to the halving, climbed leading into it, and then exploded to the upside afterwards. The post-halving rallies have averaged 446 days – from the halving to the peak of that bull cycle. In this cycle, the market did in fact trough 514 days before the halving.”

    Afterward, Dan Morehead stated his long term prediction for the price of Bitcoin (BTC).

    He said:

    “IF history were to repeat itself, bitcoin would peak in August 2021 – at $533,431. Obviously that’s a big IF. That price sounds ludicrous… Just sayin’ that there’s more than a 50-50 chance bitcoin goes up – and goes up big.”

    Comparing the Performance of Bitcoin (BTC), Gold and Oil

    In another development, Dan Morehead compared the performances of Bitcoin (BTC), Gold, Oil, and other conventional assets, since the start of 2020 to date, in a comment shared on Twitter a couple of days ago.

    In the chart captioned in the tweet, it’s revealed that Bitcoin (BTC) has outperformed other digital assets, including Gold, Oil, S&P 500, Real Estate, and others.

    Bitcoin (BTC) in the Market

    The price of Bitcoin (BTC), the largest cryptocurrency by market capitalization, has once again surged to trade above $9,000 resistance level.

    Over the past few days, the digital currency has failed in more than 2 attempts of holding $9,000 as support for the expected pre-halving positive price trend. At the time of writing, BTC is trading at $9,024.81, with a relatively 4% price increase based on 24 hours estimation.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Over 1,000,000 ETH worth More Than $600,000,000 Locked In Ethereum 2.0 Deposits Contract

    According to the data provided by Etherscan.io, 1,000,000 ETH worth more than $600,000,000 at press time, has been locked...

    Ripple Is Planning To Massively Expand XRP Remittance Platform in 2021

    According to Ripple’s senior vice president of product management and corporate development, Asheesh Birla, the payment firm is planning to massively expand its XRP...

    David Schwartz Says XRP Community Could Force Ripple To Burn Its Over 50 Billion XRP

    Ripple CTO David Schwartz has recently pointed out that the XRP community could force Ripple to burn the over 50 billion XRP in its...

    Get Up To 100 USDT for Trading On Bitget Exchange. Here’s How to Apply

    According to a report, the Singapore-based deviation margin trading exchange, Bitget, is holding a new campaign that comprises Registration Gift and First Deposit Bonus...

    Charlie Lee: Litecoin (LTC) Visa Debit Card Is Now Open To All United States Residents

    As a report has it, Litecoin (LTC) Visa debit card can now be obtained by the holders of the digital token LTC that are...

    More Articles Like This