Pantera Capital CEO doubles down on $115K Bitcoin prediction for 2021

Dan Morehead, founder and CEO of Bitcoin (BTC) investment firm Pantera Capital, has maintained his bullish Bitcoin prediction for 2021.

Bitcoin is poised to hit as much as $115,000 by August 2021, stijgende 200% in the next eight months, Morehead reportedly said at a conference call on Jan. 12.

De directeur deed deze voorspelling aanvankelijk in augustus 2020, toen Bitcoin handelde op ongeveer $11,600. Op het moment van publicatie, the cryptocurrency is trading at over $38,000. Op dinsdag, Morehead said that Bitcoin still has lots of room for growth:

“Is bitcoin overvalued? Ik zou nee zeggen. […] Bitcoin heeft drie jaar lang onder de samengestelde jaarlijkse groeitrendlijn doorgebracht, het is er nog steeds onder, en hoewel Bitcoin de afgelopen zes maanden veel heeft verzameld, Ik denk dat het redelijk gewaardeerd wordt. "

Morehead believes that major global digital currency developments like China’s digital yuan will positively impact the crypto market by boosting mainstream adoption. “There are over a billion people on earth that do not have access to a bank, but do have access to a smartphone, and that’s all you need to use a cryptocurrency,” Morehead said.

Joey Krug, co-chief information officer of Pantera, said that Bitcoin’s ongoing bull run is different from previous rallies and will not end the same way as its previous run in 2017. Krug said that the latest rally is much stronger in terms of adoption fundamentals.

“The high level fundamentals for 2017 was that there really wasn’t much fundamentals at all, most projects were just an idea on a piece of paper, most things hadn’t launched, most things didn’t have live products,” he stated.

Morehead is not alone in believing that Bitcoin will reach $100,000 in 2021. In early January, Binance.US CEO Catherine Coley predicted that Bitcoin could hit $100,000 by the end of the year. PlanB, the creator of the stock-to-flow model, also predicted that Bitcoin should achieve the $100,000 naar $288,000 range by December 2021.

Op Jan. 8, Bitcoin set a new historical high of $42,000, following a massive rally breaking $20,000 at the end of 2020. Following a correction, Bitcoin is steadily rebounding, trading at $38,600, ongeveer 12% in het verleden 24 hours at publishing time.

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Bron: CoinTelegraph

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