Crypto asset manager Pantera Capital estimates that bitcoin (BTC) will reach almost €150 in the first half of 000, while hinting that the bottom of this cycle may be imminent.
Predictions on the price of BTC and what will happen after the next Bitcoin halving appeared in the latest Blockchain Letter from Dan Morehead, Joey Krug and Pantera's Jesus Robles.
“Historically, Bitcoin bottomed 477 days before the halving, advanced, and then exploded higher. Post-halving rallies lasted an average of 480 days, from the mid-halving to the top of this next bull cycle,” the three crypto investment managers wrote in the letter.
“IF history were to repeat itself, the bitcoin price would peak on November 30, 2022. We would then see a rally in early 2024 and then a strong rally after the halving,” they added.
Specifically, Pantera predicted that Bitcoin would reach around €36,000 before the halving and peak around €150,000 afterward.
The next Bitcoin halving is expected to take place on March 22, 2024.
Historically, bitcoin bottomed out 1,3 years before each halving and peaked 1,3 years after the halving.
If history repeats itself, the peak of the next bull market should be seen in the first half of 2025.