Pantera Capital Predicts Bitcoin to Skyrocket to $148,000 Post-2024 Halving

In a latest “Blockchain Letter” to buyers, revealed on August 22, Pantera Capital — a enterprise capital agency headed by Dan Morehead — has projected that the value of bitcoin (BTC) may soar to $147,843 per coin following the 2024 halving. The agency employed the stock-to-flow (S2F) ratio as a worth mannequin to guage and forecast future pricing traits throughout every halving occasion.

Venture Capital Firm Pantera Predicts a Six-Digit Bitcoin Price After the Next Halving

The subsequent Bitcoin community halving is slated to happen in 245 days and it has sparked quite a few predictions of a considerable worth improve post-event. Around April 24, 2024, the block reward for the community might be slashed by half, from the present 6.25 BTC per block to three.125 BTC per block after the halving. Pantera Capital, which focuses on cryptocurrency belongings and blockchain know-how investments, anticipates BTC’s worth will hover round $35,448 per coin earlier than leaping 317% into six-digit territory following the halving.

“​​The 2020 halving diminished the availability of latest bitcoins by 43% relative to the earlier halving. It had a 23% as massive an affect on worth,” Pantera mentioned. “If historical past have been to repeat itself, the following halving would see bitcoin rising to $35k earlier than the halving and $148k after.”

Pantera defined that it utilized the S2F worth mannequin to facilitate the projection of pricing traits. The amount theory-based mannequin considers bitcoin’s valuation in opposition to its shortage by contrasting its general inventory (circulating provide) with its annual manufacturing circulation (newly-created cash). It means that as BTC’s issuance fee diminishes via consecutive halvings, it turns into extra scarce and therefore more and more possible that its worth will respect over time. Nevertheless, many BTC proponents view this mannequin skeptically after a number of failed predictions up to now two years.

Pantera’s post-halving worth outlook aligns with a number of different forecasts that incorporate halving as an element contributing to BTC’s general valuation. Fundstrat, in an investor’s be aware revealed weeks in the past, validated its expectation of a $180,000 BTC worth following the halving. Similarly, Blockware Solutions speculated on August 18, 2023, that bitcoin may probably attain $400,000 post-halving. At year-end 2024, Matrixport estimated a BTC worth of $125,000, whereas monetary big Standard Chartered projected $120,000 by the top of 2024.

Morehead expressed in mid-July that markets can endure downward traits and investor ache solely to a sure extent. He emphasised that an entire 12 months had transpired for the reason that Terra Luna and SBF downturns and the Pantera CEO insisted that the crypto rally can begin now.

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