According to Pantera Capital CEO Dan Morehead, the price of bitcoin could reach $ 115,000 in August.
A year ago, we predicted that Bitcoin would hit $ 62,968 this week. It worked. This Bitcoin rally is EXACTLY similar to previous halvings. By August, most likely, we will reach 115 thousand dollars.
This is getting ridiculous. A year ago we predicted Bitcoin hitting $62,968 this week. It just did.
This Bitcoin rally is EXACTLY like previous halvings. Likely to reach $115k by August.
April 2020 Investor Letter: https://t.co/RMwSbqlS8m pic.twitter.com/2vwuDb91qQ
– Dan Morehead (@dan_pantera) April 13, 2021
In this case, Morehead refers to a letter to investors that he sent out last April, which analyzes the stock-to-flow ratio and hypothesizes that the halving cycle in May 2020 will push the price of bitcoin up to August 2021 to the level of $ 115,212.
At the same time, he noted that the forecast for April 15 was made in the calculation of the price at around $ 62,968. As we can see, it was exceeded by almost $ 2,000.
It is worth noting that other predictions in his table turned out to be incorrect, since in mid-December the price of bitcoin was well below $ 32,000, and in mid-March it was well above $ 52,000. However, Morehead noticed how the numbers should be shifted forward or backward by a few weeks.
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