In a recent deep dive into Bitcoin’s historical performance and future potential, Pantera Capital, the fifth-largest crypto hedge fund by AUM, has projected a staggering $148,000 price target for BTC post its next halving event.
When Bitcoin Price Could Reach $150,000
The “Blockchain Letter” released by Pantera Capital meticulously analyzes BTC’s past halving events and their subsequent impact on its price. The firm noted, “Bitcoin experienced the longest period of negative year-over-year returns in its history, lasting 15 months (2/8/22–6/12/23).” Drawing parallels to the previous longest downturn, they added, “The longest period prior was just under a year (11/14/14–10/31/15).”
Pantera’s bullish sentiment is not solely based on historical data. The firm believes that recent positive developments in the crypto space, such as “the XRP ruling and endorsements by BlackRock et al.,” combined with the upcoming Bitcoin halving in April 2024, create a potent mix for
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