An analysis of the investment fund Pantera Capital predicts a price of Bitcoin (BTC) at 115,000 dollars by August 2021. Zoom on this prediction and on the future movements of BTC.
The long-term impact of halving on the price of Bitcoin (BTC)
Pantera Capital’s analysis compares the current bull run to that experienced by cryptocurrency during the year 2017. According to the firm, the consequences of the Bitcoin (BTC) halving are felt more than a year later. the facts, with a consequent increase:
“In general, the market peaks 1.2 years after [a halving]. “
Pantera Capital explains that for the moment, the price of Bitcoin (BTC) has followed the progression announced last April, according to the “ stock-to-flow” model :
This popular model attempts to predict the impact of the reduction in Bitcoin supply , which takes place after each halving. It is based for this on the previous halving, the latter showing a trend:
Will Bitcoin (BTC) hit $ 115,000 next August?
This is the hypothesis of Pantera Capital, which explains that this threshold is no longer as fanciful as it once was:
“This price may seem absurd. But $ 5,000 was also an absurd amount when we wrote our first price prediction, and Bitcoin was only worth $ 65. “
As the report notes, and several other analyzes, the current bull run is also different from the last, in particular by the concentration of the market on a few cryptocurrencies. In 2017, altcoins were well represented, but in 2020 and 2021, Bitcoin represents the largest share , by far:
Bitcoin altcoins breakdown Pantera Capital
According to Pantera Capital, these are two functional and sustainable blockchains that capture 86% of the cryptocurrency market cap : Bitcoin and Ether (ETH). Since 2010, they have also often been at the top of the best performing currencies over a year, and were only exceeded by the USD and JPY in two years in 2018 and 2014.
A progression that has only just begun?
Pantera Capital’s analysis is therefore particularly “bullish”. The firm is not the only one to be optimistic about the price of Bitcoin, however. Glassnode posted a lengthy analysis over the weekend, which explains:
“For the rest of this year, we’re very ‚bullish‘. The tide always goes down before the tsunami arrive. “
Specifically, Glassnode sees Bitcoin testing the $ 50,000 threshold in the next two weeks. This morning, the cryptocurrency is trading for $ 36,100, with a capitalization of $ 673 billion.