Projections regarding Bitcoin abound among analysts. Many experts predict a meteoric rise in the price of the queen of cryptos, despite the period of stability it is currently going through. The most recent prediction comes from Pantera Capital, a blockchain investment firm, which is eyeing a price of $148,000 for BTC.
Pantera Capital’s Unwavering Faith in BTC’s Rising Price
Despite the heavy blow that shook the entire crypto market, experts continue to display unwavering confidence.
Indeed, Pantera Capital analysts have issued an optimistic forecast that covers both the price and the date of the next halving. Scheduled for April 20, 2024, this historic event could trigger a series of bulls that would propel the crypto market to all-time highs.
This outlook is largely based on the favorable developments currently taking place. Recent news, including the victory of Ripple and the enthusiasm shown by major financial players such as BlackRock for Bitcoin Spot ETFs, instil some optimism.
Pantera experts suggest that if the story goes, Bitcoin could breach $35,000 before the halving and climb as high as $148,000 afterward. Nevertheless, it remains crucial to approach these forecasts with caution, as recommended by the wisdom in the crypto field, known for its volatility.
Halving Bitcoin: History always repeats itself!
The Bitcoin halving, which occurs roughly every four years, has traditionally initiated upswings for BTC. By halving the reward or monetary creation, Halving increases the scarcity of bitcoins. This event is usually accompanied by a price increase.
Additionally, positive signals from institutional investors shifting their focus more towards Bitcoin Spot ETFs, create an environment conducive to another wave of BTC bullishness.
Given this outlook, the future of Bitcoin looks bright in the long term. However, remaining pragmatic remains crucial, given the volatility and uncertainty that characterizes this sector. As the 2024 halving date draws closer, the crypto industry is holding its breath, waiting for a potential trend reversal. At the time of writing, Bitcoin is trading at $26,256.
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