Pantera Capital predicted bitcoin to rise to $148k after halving in 2024
The court ruling on the XRP token and the approval of BlackRock's application for a spot bitcoin-ETF, in addition to the halving, will provide a strong foundation for bitcoin market growth, analysts said
The bitcoin (BTC) exchange rate could reach $35k before the halving scheduled for April 20, 20245, and up to $148k after it, according to analysts at venture capital firm Pantera Capital.
Cryptocurrency venture capital firm Pantera Capital manages $3.8 billion and launched the first cryptocurrency fund in the U.S. in 2013.
"With the majority of bitcoins now in circulation, each successive halving will nearly halve the supply of new BTC. If history repeats itself, bitcoin will rise to $35k before the next halving, and to $148k afterward," the company said in a statement.
Bitcoin rally periods before and after halving
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The court ruling on the XRP token and the approval of BlackRock's application for a spot bitcoin-ETF, in addition to the halving, will provide a strong foundation for the BTC market to grow, analysts suggest.
In June, BlackRock filed an application with the SEC to launch a Bitcoin trust. The investment company decided to create a spot exchange-traded product based on the cryptocurrency, despite the regulator's numerous refusals to register such funds.
In July, the head of Morgan Creek Mark Yusko predicted bitcoin growth to $300 thousand by 2028. This figure can be achieved primarily due to halving, he believes.
At the same time, analysts at Fundstrat believe that Bitcoin could grow to $180 thousand before halving next year. The launch of bitcoin-ETF can increase the daily demand for bitcoins by $100 million, experts predicted.
Nearly 60% of investors said they expect Bitcoin to rally after halving in April 2024. 17% of investors believe there will be no sustainable Bitcoin rally after the April 2024 halving.
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