New Bitcoin Forecast of $149K From Pantera
Panetra Capital, a US-based crypto investment and asset management firm, predicted that the next halving in Bitcoin will trigger a serious price rise. In the evaluation note written by CEO Dan Morehead and other executives for customers, it was stated that the biggest crypto money will start to find the bottom by the end of November:
“Bitcoin, historically, finds its bottom about 477 days before the halving. In the next period, it goes up from here and then the price starts to rise as if it explodes. Post-halving rallies average 480 days. If history repeats itself, Bitcoin will continue its decline until November 30, 2022. Then we may see a rally until early 2024.”
In Pantera’s customer note, it was stated that the target in Bitcoin before the halving could be 36 thousand dollars, and after the halving, the rise could go to 149 thousand dollars:
“The 2020 halving has reduced the entry of new Bitcoins into the system by 43% compared to the previous halving. This situation had a 23% effect on the price. The new halving is expected to take place in March 2024. Considering that most of the Bitcoins are now in circulation, this effect will grow even more. If history repeats itself, Bitcoin can go up to 36 thousand dollars before halving and 149 thousand dollars after halving”
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