Digital asset investment firm Pantera Capital believes Bitcoin (BTC) will spark a parabolic bull run after next year’s halving.
In its latest blockchain letter, the company, which has $3.5 billion in assets under management, says bitcoin is likely to surge more than 466% from its current value, hitting six figures for the first time in its history sometime in mid-2025 becomes.
says the company
“Historically, bitcoin bottomed 477 days before the halving, rose before it, and exploded after it. Post-halving rallies lasted an average of 480 days – from the halving to the peak of the next bull cycle. IF history repeated itself, the price of Bitcoin should have bottomed on December 30, 2022.”
The company forecasts Bitcoin to hit $147,843 around August 13, 2025, 480 days after the next expected halving on April 20, 2024. Pantera also says that cryptocurrency King based on Bitcoin’s historical behavior up to Halving event will rise to $35,000 as miner rewards are halved.
Source: Pantera Capital
“The 2016 halving reduced the supply of new bitcoin by only a third as much as the first halving. Interestingly, it had exactly a third of the price effect. The 2020 halving reduced the supply of new bitcoin by 43% compared to the previous halving. The impact on price was 23% greater.
The next halving is expected to take place on April 20, 2024. Since most bitcoins are now in circulation, each halving will mean almost exactly half a reduction in new supply. If history were to repeat itself, the next halving would see Bitcoin rally to $35,000 pre-halving and $148,000 post-halving.”
The company made a similar forecast last year.
Bitcoin is trading at $26,102 at the time of writing, down 0.1% over the past 24 hours.
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