Bitcoin Can Hit As High As $115k By This Summer - Analytic Update.
2021-03-17 | Eddy Morgan
“Bitcoin is now
running far ahead of our April 2020 forecast schedule – and can hit as high as $115K this summer,” added Dan Morehead, CEO, and co-chief investment officer at
Pantera Capital, a blockchain hedge fund, within an official update.
The Pantera prediction
is based on the stock-to-flow
model – an analytical framework that values an asset’s price
supporting its annual issuance schedule. The model measures the scarcity of Bitcoin [
BTC], which is governed by the underlying
schedule coded into the blockchain’s design when
it had been launched 12 years ago.
Under that plan,
the amount of new bitcoin created with each new data block, every 10 minutes approximately, gets cut in half roughly every four years. In theory,
consistent with the stock-to-flow model, the bitcoin price should rise as the issuance rate declines.
Morehead’s predictions
determine partly
due to his prior Wall Street experience: Prior to founding Pantera earlier in 2003, he served as head of macro trading for the hedge fund Tiger Management, and also worked as a trader at Deutsche Bank & Goldman Sachs.
Leave a comment
Your email address will not be published. Required fields are marked *
