Pantera Capital Predicts Bitcoin Price Surge To $117,000: Insight Into The Timing And Factors

The Bitcoin price has experienced heightened volatility over the past week. After recovering from a low of $56,500, the largest cryptocurrency in the market surged to $65,500 within four days. However, it has since retraced some of its gains and is currently testing the $61,000 support level.  Despite this volatility and the absence of strong bullish momentum, venture capital firm Pantera Capital remains optimistic about the future of BTC’s price, citing the recent Halving event as a significant factor. Pantera Capital Projects $117,000 Price Target By 2025 In a recent investor letter, Pantera Capital revealed its Bitcoin Halving rallies model, which predicts a bottoming out of the BTC price followed by a rise through the Halving rally.  Based on the average duration of previous rallies, the firm forecasts that BTC’s price will peak at $117,000 in August 2025. The average total duration of this cycle, encompassing pre- and post-Halving rallies, has historically been around 2.6 years, with symmetry observed across cycles. Related Reading: What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts? Pantera Capital highlights the relationship between Halving events and BTC’s price. The firm asserts that if the demand for new Bitcoin remains constant while the supply of new Bitcoin is reduced by half, it will create upward pressure on the price.  The anticipation of a price increase has also historically driven increased demand for Bitcoin leading up to Halving events. However, Pantera Capital acknowledges that the impact of each subsequent Halving on price may diminish as the reduction in the supply of new Bitcoin from previous Halvings becomes less significant. Moreover, the firm notes that, on average, the Pantera Bitcoin Fund has nearly doubled in value for eleven years. Based on this historical performance, Pantera Capital envisions a scenario in which the price of Bitcoin reaches $117,000 by 2025. Bullish Bitcoin Price Predictions Renowned crypto analyst Titan of Crypto has recently taken to social media platform X (formerly Twitter) to share bullish predictions for the Bitcoin price. With forecasts ranging from $75,000 to $110,000, Titan of Crypto highlights various factors and patterns that could potentially drive BTCs growth. According to Titan of Crypto, a price rise to $110,000 for Bitcoin is “programmed.” While the analyst did not elaborate on the specifics of this programming, it suggests a strong conviction in BTC’s potential to reach that level. Titan of Crypto also identifies a current head-and-shoulders pattern in the Bitcoin price chart. If this pattern holds, the analyst suggests that BTC could rise to the $75,000 mark. If confirmed, this pattern could signify a bullish trend reversal and further support the projection of Bitcoin reaching higher price levels. Related Reading: Analyst Narrows Down Timeline For Bitcoin Peak This Bull Cycle The analyst also highlighted $61,500 as a critical point to monitor due to the possibility of panic selling. The analyst suggests many market participants might react to this level, potentially increasing selling pressure.  Lastly, based on his analysis, the analyst suggests a conservative price prediction of $108,000. However, Titan of Crypto believes that BTC’s price may exceed this projection, indicating a more optimistic outlook. Featured image from Shutterstock, chart from TradingView.com

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Timing The Breakout: When Will Bitcoin Escape The Post-Halving Consolidation?

Bitcoin (BTC), the largest cryptocurrency in the market, has been trading within a re-accumulation range between the $59,000 and $70,000 price levels for the past month and a half.  Crypto analyst Rekt Capital recently shared its perspective on this phase and its potential duration, drawing from historical patterns and data in a post on social [...]

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Bitwise CIO Unveils 5 Major Forecasts For Bitcoin 2028 Halving, Anticipates A 280% Price Surge

Bitwise Chief Information Officer (CIO) Matt Hougan recently shared five interesting predictions for the next Halving of the Bitcoin (BTC) network, scheduled for 2028. In a comprehensive report, Hougan sheds light on the potential transformations for the worlds leading cryptocurrency. New Investors And ETFs As Catalysts One of Hougans key predictions is that Bitcoins volatility [...]

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Market Expert Predicts New Paradigm For Bitcoin: Days Under $100,000 Numbered

As the Bitcoin (BTC) Halving event concluded for the fourth time, the cryptocurrency market witnessed notable changes in key metrics.  These developments have led Charles Edwards, a market expert and founder of Capriole Invest, to issue bold predictions that hint at a paradigm shift in the BTC market.  Bitcoin Trading At Deep Discount One of the key metrics highlighted by Edwards is the staggering electrical cost associated with mining a single Bitcoin. Edwards reveals that this cost has now reached an astonishing $77,4000. This figure represents the raw electricity expenses required to power the Bitcoin network for every newly mined BTC. Another significant metric that Edwards draws attention to is the Bitcoin Miner Price, which soared to $244,000 on Saturday. This metric encompasses the block reward and fees miners receive for every Bitcoin they successfully mine.  Notably, this surge in miner price coincided with transaction fees skyrocketing to $230, marking a four-fold increase compared to the previous all-time high of $68 set in 2021. Related Reading: Brazil Wants BTC: 7,400 Bitcoin Futures Contracts Created On First Day Of Trading Considering the metrics above, Edwards suggests that BTC currently trades at a deep discount.  This is because BTC’s price is lower than the electrical costs of mining it. Typically, this situation only lasts for a few days every four years, suggesting that the price will only take a short time to catch up and surpass this price level, which is slightly below BTC’s all-time high (ATH) of $73,7000, reached on March 14th.  Edwards outlines three possible outcomes in the wake of these developments. First, he anticipates a scenario in which the price of Bitcoin experiences a significant surge.  Secondly, there is a likelihood that approximately 15% of miners may be forced to shut down due to unfavorable economics. Finally, Edwards suggests that average transaction fees are expected to remain substantially higher. Based on the analysis of these metrics and the potential scenarios, Edwards boldly predicts that Bitcoin’s days under the $100,000 mark are “numbered.” While it remains to be seen which of the three outcomes will prevail, Edwards expects a combination of all three factors to contribute to Bitcoin’s price appreciation. Optimal Buying Opportunity?  Bitcoin has demonstrated significant price consolidation above the $60,000 mark since Friday, following temporary drops below this threshold amid mounting anticipation for the Halving event.  Crypto analyst Ali Martinez recently analyzed Bitcoin’s current price state, suggesting that a potential bottom may have formed above these levels, increasing the likelihood of surpassing upper resistance levels shortly. According to Ali Martinez’s analysis, Bitcoin strives to establish the $66,000 price level as a crucial support zone. Data reveals that approximately 1.54 million addresses collectively purchased 747,000 BTC at this level. If Bitcoin successfully secures this support, it may pave the way for further upward movement. Martinez identifies Bitcoin’s next critical resistance levels, between $69,900 and $71,200. These levels represent significant price barriers for BTC bulls, and Bitcoin may encounter selling pressure at these levels.  Related Reading: Is The Bitcoin Bloodbath Over? Analysts Say $60,000 Is The Cycles Bottom In addition, the analyst points out that the Bitcoin MVRV ratio, a metric that compares the market value of Bitcoin to its realized value, has shown a promising pattern, as seen in the chart below.  Martinez highlights that whenever the MVRV ratio falls below its 90-day average since November 2022, it historically indicates an optimal buying opportunity for Bitcoin. Interestingly, such buying opportunities have resulted in average gains of approximately 67%. According to Martinez, based on current market conditions and an analysis of the MVRV ratio, now may be an opportune time to consider buying Bitcoin. The historical data and the potential for significant price appreciation support this view.  BTC is trading at $66,100, up 1.6% in the past 24 hours.  Featured image from Shutterstock, chart from TradingView.com

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Bitcoin Halving: Anticipating Price Impact, Miner Challenges, And Long-Term Outlook

The highly anticipated Bitcoin Halving event is close, bringing with it heightened expectations regarding the long-term impact on the Bitcoin price.  There are concerns, however, that this quadrennial event may already be priced in, as Bitcoin recently reached an unprecedented all-time high of $73,700 on March 14. This surge broke the pattern of previous Halvings, where Bitcoin had never surpassed its previous ATH before the event. However, historical data reveals significant price increases in the year following previous Halvings. Experts Predict Delayed Bitcoin Halving Price Impact Analysts argue that the compounding impact of reduced issuance takes several months to materialize, suggesting that the Halving itself may not prompt a significant rally before or immediately after the event.  Deutsche Bank analysts share this sentiment, highlighting that substantial price increases have typically occurred in the run-up to previous Halvings rather than immediately after them. Related Reading: Analyst Forecast: Litecoin Poised For $250-$300, But Can It Hold? Another factor to consider is the increased production costs for Bitcoin miners resulting from the Halving. As the mining reward decreases, participating in the mining process becomes less profitable.  This has historically led to a decline in the hashrate, the total computational power used for Bitcoin mining. JPMorgan analysts predict that production costs could rise to an average of $42,000 after the Halving. One JPMorgan analyst wrote, This estimate is also the level we envisage Bitcoin prices drifting towards once Bitcoin-Halving-induced euphoria subsides after April. While these factors may influence short-term price movement, historical data reveals that the price of Bitcoin has experienced significant increases in the year following previous Halvings.  The respective price gains for the three previous halvings were 8,760%, 2,570%, and 594%. However, it’s important to note that each successive halving has a diminishing impact on the new supply of Bitcoin. Mining Industry Shake-Up In the mining sector, Halving could lead to significant revenue losses, estimated to be around $10 billion annually.  According to Fortune, publicly traded miners have taken measures to increase their resilience, diversify their offerings, and optimize their operations. However, mining stocks have faced challenges, with some experiencing significant declines. While larger miners may undergo a period of adjustment, smaller miners and pools may be pushed offline. This could result in a wider market share for the surviving miners.  Experts at private asset management firm Bernstein expect the mining industry to consolidate, with smaller and less efficient players potentially selling assets to raise capital and shore up their balance sheets.  The increased market dominance of the surviving miners is expected to be profitable over the long term, especially with the continued structural demand for Bitcoin from ETFs. Timing The Bitcoin Bull Market Peak Cryptocurrency analyst Rekt Capital has provided insights into the potential timing of Bitcoin’s bull market peak based on historical Halving cycles and the current acceleration seen in the market.  According to Rekt Capital, Bitcoin has traditionally reached its peak in the bull market approximately 518-546 days after the Halving event. However, the current cycle has shown signs of unprecedented acceleration, with Bitcoin surpassing previous all-time highs roughly 260 days ahead of historical norms. Nonetheless, the recent pre-Halving retrace has slowed down the cycle by around 30 days and counting. Related Reading: The Next Dogecoin? Top Trader Points To This Memecoin Taking into account this accelerated perspective, if Bitcoin’s bull market peak is measured from the moment it breaks its old all-time high, it may occur 266-315 days later. As Bitcoin achieved new all-time highs in March, this suggests a potential bull market peak in December 2024 or February 2025, according to Rekts analysis. Both perspectives carry significance throughout the cycle, especially if the acceleration trend persists. However, prolonged retracements or consolidation periods can slow down the cycle, potentially pushing the anticipated bull market peak further into the future. At the time of writing, BTC was trading at $64,300, up from the $59,000 mark reached in the early hours of Friday. Featured image from Shutterstock, chart from TradingView.com

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Pre-Halving Jitters: Bitcoin Price Briefly Slips Below $60,000

The Bitcoin price has recently experienced heightened volatility, causing the largest cryptocurrency in the market to briefly drop below the significant threshold of $60,000 for the first time since March 5.  This price decrease comes just days before the highly anticipated Halving event scheduled for Friday. This event has traditionally been viewed as a positive [...]

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Is The Bull Run Nearing its End? Marathon CEO Asserts Bitcoin Halving Rally Already Priced In

In anticipation of the upcoming Bitcoin Halving event, which is expected to occur later this month, Marathon Digital CEO Fred Thiel believes that the price impact may already be factored into the market to a certain extent.  Thiel shared his insights in a recent interview with Bloomberg, in which he discussed the potential catalysts for further price increases and their implications for the mining industry. Related Reading: From Hat To Heights: Dogwifhats $17 Crypto Leap Electrifie Investors Bitcoin Halving Impact Mitigated By ETF Surge?  The “halving” event, a software code update that occurs approximately every four years, is often regarded as a key driver of Bitcoin’s price appreciation. The update will reduce the block reward for miners by half, meaning they will receive fewer Bitcoins as a reward for validating transactions on the blockchain.  However, Thiel noted that the impact of The Halving may not be as significant this time, as the recent approval of Bitcoin exchange-traded funds (ETFs) has already attracted substantial capital to the market. Thiel explained:  The ETF approval, which has been a huge success, has attracted capital into the market and essentially brought forward what could have been the price appreciation we typically would have seen three to six months post-halving. So I think we are seeing part of that now already and that has put forward some of the demand. While the halving event is expected to reduce the daily supply of new Bitcoins by approximately 450, Thiel believes the price impact may be relatively modest.  However, the Marathon CEO expressed excitement about the positive price trend leading up to the halving, stating:  As miners, we are very excited to go into a halving, where for once prices have not declined prior to the halving rather prices have gone up so everybody is obviously maximizing to that. Balancing ETF Inflows And Previous Halving Patterns Thiel’s observations come amidst the noteworthy inflows into Bitcoin ETFs, which have amassed nearly $12 billion in just three months of trading in the United States.  While these inflows may have contributed to the current price appreciation, historical data reveals that Bitcoin still possesses considerable growth potential leading up to The Halving. To gain a comprehensive understanding, it is crucial to examine the recent surge in Bitcoin’s value, which has soared by nearly 370% from its bear market low of $15,400 to an all-time high (ATH) of $73,700 on March 14, 2024.  In conjunction with this surge, past halving events provide valuable insights into Bitcoin’s price movements and the likelihood of surpassing the significant milestone of $100,000. During the first halving in November 2012, Bitcoin’s price experienced a remarkable surge from a low of $13 to a peak of $1,152 the following year, illustrating an impressive increase of 8,753%.  Similarly, the second halving event in July 2016 witnessed Bitcoin’s price ascending from $664 to a new ATH of $17,760, reflecting a surge of 2,580% after the halving.  The most recent Halving event in May 2020 saw Bitcoin’s price reach a significant milestone of $67,000, surging from a low of $9,730, which accounted for a substantial increase of 593% following the halving. Related Reading: Ethena (ENA) Is The LUNA Of This Cycle With 20x Potential: Expert In perspective, while the potential scenario outlined by Thiel suggests that The Halving may be partially priced in due to the influence of ETF inflows, historical patterns suggest that Bitcoin still has plenty of room to run before the event.  Several market pundits have also set their price targets for this bull run at the coveted $100,000 level in light of the upcoming halving event. However, it remains to be seen how the price of Bitcoin will react, taking into account factors such as the influx of capital through ETFs, historical data, and potential market dynamics. Currently, BTC is trading at $68,400, down 0.4% from yesterday’s price.  Featured image from Shutterstock, chart from TradingView.com

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PlanBs Bitcoin Forecast: A Journey To $5 Million Per BTC In The Next Decade

PlanB, a popular name within the Bitcoin community, thanks to his Stock-to-Flow (S2F) model, has shared the latest discourse on X, igniting a flurry of excitement and speculation. This discourse particularly highlights BTCs potential journey through successive halving cycles. PlanBs analysis, deeply rooted in the S2F model, presents a narrative for Bitcoins future. This model scrutinizes [...]

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The Price Peak Puzzle: Unraveling The Timing Of Bitcoin Bull Market Peak

As Bitcoin (BTC) continues its remarkable ascent, reaching a new all-time high (ATH) of $72,300, investors wonder when the current bull market will peak. Considering historical data and the upcoming halving event scheduled for April 2024, crypto analyst Rekt Capital has provided insights into potential timing.  Bitcoin Peak Expected Sooner Than Expected? By examining previous [...]

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Market Survey Signals Bull Run: Investors Predict Bitcoin To Surpass $69,000 Post Halving

A recent survey conducted by Bitget has shed light on investors optimistic outlook towards the upcoming Bitcoin (BTC) halving event scheduled for April 2024. Notably, the survey indicates that most respondents anticipate Bitcoin surpassing its all-time high (ATH) of $69,000 during the next bull run.  The study also highlights diverse predictions for Bitcoins price during [...]

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Grayscale Claims Next Bitcoin Halving Is Different: Whats Changed?

In Grayscale’s latest report, “2024 Halving: This Time Its Actually Different,” Michael Zhao, provides an in-depth analysis of the evolving dynamics within the Bitcoin ecosystem as the next halving event approaches in mid-April 2024. The report argues for a significant departure from previous cycles, underlined by the advent of spot Bitcoin ETFs in the United States, evolving investment flows, and innovative use cases emerging within the Bitcoin network. The Essence Of Bitcoin Halvings Halvings, designed to halve the reward for mining Bitcoin transactions every four years, are pivotal in maintaining Bitcoins scarcity and disinflationary profile. Zhao articulates, “This disinflationary characteristic stands as a fundamental appeal for many Bitcoin holders,” emphasizing the stark contrast with the unpredictable supplies of fiat currencies and precious metals. Despite historical price surges post-halving, Zhao cautions against assuming such outcomes as guarantees, stating, “Given the highly anticipated nature of these events, if a price surge were a certainty, rational investors would likely buy in advance, driving up the price before the halving occurs.” Distinguishing Factors Of The 2024 Halving Macroeconomic Factors According to Zhao, macroeconomic factors have differed in each cycle, however, always propelling the BTC price to new heights. The researcher describes the European debt crisis in 2012 as a significant catalyst for Bitcoins rise from $12 to $1,100, highlighting its potential as an alternative store of value amidst economic turmoil, Similarly, the Initial Coin Offering boom in 2016which funneled over $5.6 billion into altcoinsindirectly benefited Bitcoin as well, pushing its price from $650 to $20k by December 2017. Most notably, during the 2020 COVID-19 pandemic, expansive stimulus measures […] [drove] investors towards Bitcoin as a hedge, which saw its price escalate from $8,600 to $68k by November 2021, Zhao states. Thus, Zhao suggests that while the halvings contribute to Bitcoin’s scarcity narrative, the broader economic context is also always critically impacting Bitcoin’s price. Miners’ Strategic Adjustments Anticipating the next BTC halving in April, miners have proactively adjusted their strategies to counterbalance the impending reduction in block reward income amidst escalating mining difficulties. Zhao observes a strategic move among miners, noting, “There was a noticeable trend of miners selling their Bitcoin holdings onchain in Q4 2023, presumably building liquidity ahead of the reduction in block rewards. Related Reading: Bitcoin Price Forecast: Analyst Predicts $100,000 Peak Before Halving Event This foresight suggests miners are not merely reacting but are actively preparing to navigate the challenges ahead, ensuring the network’s resilience. These measures collectively suggest that Bitcoin miners are well-positioned to navigate the upcoming challenges, at least in the short term, the Grayscale researcher argues. The Emergence Of Ordinals And Layer 2 Solutions The introduction of Ordinal Inscriptions and the exploration of Layer 2 solutions have introduced new dimensions to Bitcoin’s functionality and scalability. Zhao emphasizes the significance of these innovations, stating, “Digital collectibles…have been inscribed, generating more than $200 million in transaction fees for miners.” This development has not only augmented Bitcoin’s utility but also provided miners with new avenues for revenue generation. Furthermore, Zhao highlights the potential of Layer 2 solutions to address Bitcoin’s scalability challenges, pointing out, “The growing interest in Taproot-enabled wallets…indicates a collective move toward addressing these challenges.” This reflects a concerted effort within the Bitcoin community to enhance the network’s capabilities and accommodate a broader range of applications. The Role Of ETF Flows The approval and subsequent introduction of spot Bitcoin ETFs have significantly influenced Bitcoins market structure, facilitating wider access for investors and potentially mitigating sell pressure from mining rewards. Zhao articulates the impact of ETF flows, asserting, “Following US spot Bitcoin ETF approvals, the initial net flows…amounted to approximately $1.5 billion in just the first 15 trading days.” Related Reading: Expert Predicts Bitcoin Price Rally To $58,000, Heres Why This suggests that ETFs could play a crucial role in balancing the market dynamics post-halving by absorbing a significant portion of the typical sell pressure post-Halving. In order to maintain current prices, a corresponding buy pressure of $14 billion annually is needed. Post-halving, these requirements will decrease by half: […] that equates to a decrease to $7 billion annually, effectively easing the sell pressure. A Promising Outlook for Bitcoin According to Grayscale’s analysis, the next Bitcoin halving will be different for a number of reasons. Overall, the outlook is highly bullish: Bitcoin has not only weathered the storm of the bear market but has also emerged stronger, challenging outdated perceptions with its evolution in the past year. While it has long been heralded as digital gold, recent developments suggest that Bitcoin is evolving into something even more significant. At press time, BTC traded at $49,708. Featured image created with DALLE, chart from TradingView.com

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Bitcoin Whales Break A Pattern Held Throughout Halving Cycles: Glassnode

On-chain data from Glassnode shows the Bitcoin whales have recently broken a pattern that was previously held through the halving cycles. Bitcoin Whale Growth Had Previously Been Diminishing With Each Cycle According to data from the on-chain analytics firm Glassnode, the current cycle is displaying an interesting deviation from the rule followed during the last [...]

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A Bitcoin Reserve Act may end cryptos 4-year boom-bust cycle

The Bitcoin Reserve Act could break the Halving cycle. Is this four year cycle going to play out differently, will we enter the mythical Supercycle?

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