Bitcoin To Reach $115k In 12 Months

The crypto market looks pretty good today with most of the coins trading in the green.

Bitcoin is no exception, and at the moment of writing this article, BTC is priced at $11,779.29.

The CEO of crypto-focused investment company and hedge fund Pantera named some of his venture firm’s positions in the crypto space.

New bullish BTC prediction emerges

In a new interview with Thinking Crypto, Dan Morehead said that the company’s largest allocation is in Bitcoin, followed by Ethereum, according to the reports coming from the online publication the Daily Hodl.

After that, Morehead included Polkadot, Filecoin, Augur and 0x as other altcoins with large allocations at the firm.

It seems that Pantera manages $600 million worth of assets in the crypto space, and Morehead also made sure to highlight that he personally invests in the capital funds of the company.

He is still bullish on BTC but he said that there’s an inefficiency in the crypto market that is failing to price in the massive impact of Bitcoin’s halvings before they take place.

“Over the past two halvings, there have been very clear positive impulses. They start about a year and a quarter prior to the halving and they go for about 440 days after the halving. And what’s typically happened is the markets have gone up a bit into the halving, and then after the halving, over the next 440 days, they go up a ton,” he said.

He also said that BTC would hit $115k by August 2021, based on the firm’s stock-to-flow analysis of previous halvings.

More bullish predictions

There have been various optimistic predictions about the price of BTC especially after the king coin was able to hit $10k and then even $11k.

Another recent bullish prediction came from ​Anthony Pompliano​, a co-founder of Morgan Creek Digital and renowned Bitcoin advocate, who claims that Bitcoin will go up to more than $400,000.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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