There are all kinds of optimistic Bitcoin predictions these days, and following a healthy correction, the king coin seems to be on an upward trend once again.
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $37,184.10.
Bitcoin bullish predictions continue
It’s been just reported that the Pantera Capital founder and CEO Dan Morehead has just doubled down on his bullish 2021 Bitcoin prediction.
He said that the king coin is still right on track to hit $115,000 by August 2021.
In Pantera’s latest Blockchain Letter, Morehead explained that Bitcoin’s price movements, even if they are delayed by a week, are playing out exactly as forecast based on the stock-to-flow projection published last year, as reported by the online publication the Daily Hodl.
“Bitcoin is exactly on track with the forecast we made in our April letter. Our analysis was based on comparing the reduction in the supply/flow of bitcoin relative to the outstanding stock – at the time of each halving – and the subsequent impact on price.”
The same online publication mentioned above notes that according to the projections that are set by Pantera, Bitcoin’s price lagged by as much as 15 weeks in July 2020.
It’s also important to mention the fact that back in December, Bitcoin began to catch up with Pantera’s projections and by mid-January, the king coin hit the ninth milestone in Pantera’s forecast after climbing to $38,000.
Bitcoin to hit $45k
The next important prediction that Morehead made is that by February 15th, 2021, Bitcoin will trade at $45,268.
It’s also important to mention the fact that Pantera makes its projections based on the Bitcoin halving cycle.
Morehead said that Bitcoin prices have surged after each halving, and as you know by now, this happens every four years.