Pantera Capital, One of the leading cryptocurrency funds, said Bitcoin could exceed $ 115k by August 2021
Bitcoin is quite far from a full-blown bull market. Every attempt by cryptocurrency upstream has been stuck in the” Bears ” hurdle. Monday’s trial toward $ 9,800 also resulted in a $ 800 withdrawal and multimillion-dollar cash return.
But one of the leading crypto funds still maintains expectations of a rise. Dailybitcoinnews.com according to the report, company executives mentioned a model that signaled that Bitcoin could see over $ 100k in 2021.
In a June 2020 letter released by Pantera Capital on June 24, the company’s CIOs, Joey Krug and Dan Morehead, attempt to explain what might be in Bitcoin’s future. They hint that bitcoin could exceed $ 100k in future years with the effect of “halving.”
“Based on this analysis, Bitcoin could rise to $ 115k by August of next year if it follows similar ratios to previous halvings,” the letter said, according to the news. Today’s price of $ 9,661 is close to the acceleration pace forecast two months ago. The stock-current estimate for today is $ 10,948.”the statement said.
Pantera Capital reckons Bitcoin could exceed $ 20k in the next nine months.
Pantera Capital isn’t the only major investor who thinks bitcoin could exceed $ 100k. Finance writer Preston Pysh recently said he thought Bitcoin would exceed $ 100k this cycle, citing macro elements such as uncertainty over the dominance of the US dollar and monetary easing.