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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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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Goldman Sachs On Bitcoin Halving: It doesnt Matter If Its A Buy The Rumor, Sell The News Event

Analysts at Goldman Sachs, a leading global banking and investment management firm, have offered valuable insights into the anticipated effects of the forthcoming Bitcoin halving, on the price of the cryptocurrency. They emphasize that while the Bitcoin halving is a noteworthy event, other major factors will likely exert greater influence on Bitcoins future value.  Bitcoin Halving To Play Lesser Role In BTCs Outlook In a note to clients, Goldman Sachs analysts have cautioned against reading too much into the past Bitcoin halving cycles and their impact on the cryptocurrency. Based on historical trends, the Bitcoin halving cycles tend to have a favorable effect on the value of Bitcoin, often triggering a bull run.  The bank noted that whether the Bitcoin halving scheduled for April 20, becomes a buy the rumor, sell the news event, it would hold less significance for the cryptocurrencys medium-term outlook. They argue that the future performance of the pioneer cryptocurrency would be more heavily influenced by the supply and demand dynamics within the current market. Additionally, the analysts highlighted that the growing interest and demand for Spot Bitcoin Exchange Traded Funds (ETFs) combined with the self-reflexive nature of the crypto market would be the primary contributing factor to Bitcoins price action and future outlook.  Sharing a similar perspective, analysts at CryptoQuant disclosed earlier in April that the 2024 Bitcoin halving was no longer a primary catalyst for Bitcoins bullish surge. They highlighted that factors such as increasing demand from large-scale investors and diminishing supply were now the key drivers of Bitcoins upward momentum.   Analysts Warn Of Macroeconomic Influence On New Halving Cycle Analysts at Goldman Sachs have predicted that macroeconomic factors such as inflation could have a significant influence on the upcoming Bitcoin halving event.  Caution should be taken against extrapolating the past cycles and the impact of halving, given the respective prevailing macro conditions, Goldman Sachs analysts noted. Related Reading: Crypto Analyst Says Dont Buy Altcoins Just Yet Heres Why Unlike previous halving cycles, the present economic conditions display high inflationary pressures and interest rates, which could cause the 2024 Bitcoin halving cycle to diverge from historical patterns. In other words, the analysts have suggested that for Bitcoins historical halving bull runs to occur, macro conditions need to be supportive of investor risk-taking.  Currently, the United States faces challenges with high inflation, while interest rates stand above 5%. These conditions may exert pressure on Bitcoins market dynamics. However, despite the prevailing circumstances, many see the digital currency as a formidable inflation hedge and a beacon of hope against escalating inflationary pressures. BTC price at $62,000 | Source: BTCUSD on Tradingview.com Featured image from CryptoSlate, chart from Tradingview.com

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