Pantera Capital CEO Dan Morehead predicts Bitcoin could hit an all-time high of $117,000 by August 2025, marking the asset’s peak price for the 2024/2025 bull cycle.
Morehead made the projection during a recent interview on the Bankless Podcast. During the interview, Morehead highlighted Bitcoin historical price alignment with the halving event occurring every four years.
BTC Performance Before and After Bitcoin Halving
For context, Bitcoin’s price surged tremendously during the previous halving event, with the latest expected to follow a similar trend. The last halving occurred in April 2024, reducing miners’ rewards from 6.25 BTC to 3.125 BTC.
Citing historical data, the Pantera CEO claims that the halving impact on Bitcoin’s price begins 400 days before the event. According to Morehead, the crypto market reaches the peak of a bull cycle around 480 days after the halving.
Bitcoin to Hit $117K
Based on Bitcoin’s historical price movements, Morehead forecasted that the premier cryptocurrency could surge to a peak of $117,000. He expects Bitcoin to clinch the target by August 2025, exactly eight months from now.
Besides the anticipated rally accompanying Bitcoin halving, Morehead expects factors, such as macroeconomic and favorable political developments, to pave the way for Bitcoin’s potential surge to $117,000. The $117,000 target represents a surge of 22.53% from its current price of $95,484.
Bitwise CIO Cites Condition for Bitcoin Potential Surge to $500K
It is worth noting that Bitcoin has recently welcomed more ambitious predictions. Last week, Matt Hougan, CIO of digital asset manager Bitwise, predicted that Bitcoin’s 2024 rally would extend into next year, projecting that the firstborn crypto asset would reach a peak price of $200,000 by then.
The Bitwise CIO highlighted three factors that could push Bitcoin to this target: spot Bitcoin ETF inflows, growing institutional demand, and increased interest in BTC among countries.
Furthermore, Hougan speculated that BTC’s price would soar to $500,000 if Donald Trump established a national Bitcoin stockpile.
The U.S. President-elect disclosed this plan during the Bitcoin Conference earlier this year. Following Trump’s reelection last month, several Bitcoin proponents, including Hougan, have highlighted the proposal’s potential impact on Bitcoin’s price.
According to Hougan, other countries might follow the U.S. to establish a national Bitcoin stockpile. Consequently, he expects Bitcoin to surge to around $300,000 to $500,000 if this initiative comes to fruition.
Meanwhile, some countries, like Japan, are not interested in creating a national Bitcoin stockpile. As reported earlier, the Japanese government believes Bitcoin and other assets are not foreign exchange. It emphasized that creating a Bitcoin reserve could jeopardize the security of the country’s foreign reserve.
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Source: https://thecryptobasic.com/2024/12/26/pantera-capital-issues-timeline-for-bitcoin-to-hit-117000/?utm_source=rss&utm_medium=rss&utm_campaign=pantera-capital-issues-timeline-for-bitcoin-to-hit-117000