Pantera CEO Predicts Bitcoin Surge To $115,212
Ahead of the Bitcoin halving, there are various Bitcoin-related predictions popping up, and most of them foresee that the king coin will go to the moon following the important event.
There are also some crypto analysts who say that we should brace ourselves for a massive selloff right after the halving, but then, Bitcoin will start a parabolic bull run.
At the moment of writing this article, Bitcoin is trading in the red and the most important coin in the crypto space is priced at $9,807.24.
BTC is on the verge of a long-term rally
Dan Morehead said that BTC is on the verge of a long-term rally to more than $100k.
In a new letter to investors he said that he believes that as the governments increasingly print money to boost the economies, the contrast between fiat and crypto with fixed supplies will become more and more apparent.
“This is a really distressing, massively confusing time. I have no idea what’s going to happen in 99% of things right now. However, I strongly believe it’s close to inevitable that this will be very positive for cryptocurrency prices,” Morehead said.
He continued and explained that “My kids used to count to 100, ‘One, two, skip a few, a hundred.’ It feels like we’re doing that on Quantitative Easing. QE1, QE2, skip a few, a hundred. As Quantitative Easing approaches infinity, it simply has to have an impact on things whose quantity can’t be eased.”
Regarding the price of Bitcoin, Morehead said that the halving, which will reduce the new supply of BTC is a couple of days, is a key factor that will drive a new bull run.
Check out the original article of the Daily Hodl in order to see what else Morehead had to say about the price of the king coin these days.
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Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.