Pantera Capital CEO Dan Morehead believes the accelerated cryptocurrency adoption will push Bitcoin’s price to above $ 100,000. When? Already this summer.
Dan Morehead on the BTC price
Dan Morehead, founder and CEO of investment firm Pantera Capital, maintains his optimistic Bitcoin price forecast for 2021. The cryptocurrency is expected to reach up to $ 115,000 by August 2021, which means a significant increase over the next eight months.
He initially made this forecast in August 2020 when Bitcoin was costing around $ 11,600. At the time of this publication, the price of the cryptocurrency is just over $ 38,000. Morehead on Tuesday said Bitcoin still has plenty of room for growth:
Is Bitcoin being overrated now? I would say no. […] Bitcoin spent three years well below its long-term annual growth trendline, still below it, and while it has gained a lot in the last six months, I think it is quite underestimated. “
CBDCs will strengthen BTC
Morehead believes that the changes we are seeing in the digital currency market, such as the potential issue of the digital yuan in China, will positively impact the cryptocurrency market, increasing its popularity.
– There are over a billion people in the world who do not have access to a bank but have access to a smartphone, and that’s all you need to use cryptocurrency – said the head of Pantera Capital.
Joey Krug, Panther’s chief information officer, said the ongoing Bitcoin streak differed from previous booms and would not end the same as the previous one in 2017. He believes the latest rally is much stronger in terms of adoption grounds.
– High level basics [cenowego] back in 2017 were that… there really wasn’t a lot of basics [do hossy]most projects [z rynku ICO] it was just an idea on a piece of paper, most things didn’t go live, most didn’t contain any real product – stated.
In turn, in early January, Catherine Coley, CEO of Binance.US, predicted that Bitcoin could reach the ceiling of $ 100,000 by the end of the year. PlanB, creator of the popular cryptocurrency pricing model, also says Bitcoin should reach a price range of $ 100,000 to $ 288,000 by December 2021.