In a recent development, Pantera Capital, one of the leading players in the crypto money investment environment with over $ 4 billion in assets under its management, has published a new evaluation report that has attracted great interest. Focusing on the halving, April 2024, when the Bitcoin block reward will be halved, the report contains predictions that could potentially shape the cryptocurrency market. Here are the details…
Critical for Bitcoin before and after halving
The essence of the report can be summarized with the phrase “35 thousand dollars before halving, 148 thousand dollars after halving…”. This statement succinctly captures the essence of Pantera Capital’s predictions for Bitcoin’s price movements before and after the upcoming halving. According to the report, the next halving is expected to occur on April 20, 2024. Based on historical examples, Pantera Capital suggests that Bitcoin could witness an increase of up to $35,000 in the pre-halving period. This historical trend is confirmed by the observation that Bitcoin usually hits its bottom around 477 days before the halving event. As the halving approaches, Bitcoin usually experiences a gradual rise followed by an explosive increase in value.
The report predicts that after the halving, the value of Bitcoin could experience a significant rise, potentially reaching up to $148,000. This prediction is based on the observed pattern of Bitcoin’s performance during previous halving cycles, where reductions in mining rewards have historically led to significant increases in market value. A notable aspect highlighted in the report is the ripple effect of positive events on Bitcoin’s price trajectory. Pantera Capital cites the recent positive outcome for Ripple in a lawsuit involving BlackRock’s ETF application and XRP. The report suggests that such positive events could create synergies with the Bitcoin halving cycle and act as a catalyst for the next bullish phase.
Pantera Capital drew attention to the halving
As a result, on August 24, Pantera Capital, a leading crypto venture capital firm, made a public announcement via an open letter. In this statement, the company reiterated its belief in the importance of the upcoming Bitcoin halving, which is projected to take place on April 20, 2024. This event will witness the mining reward drop from 6.25 BTC to 3.125 BTC. It will mark a significant shift in the supply dynamics of the cryptocurrency. Pantera Capital’s assessment reveals that Bitcoin’s price performance is intricately linked to halving cycles.
With the next halving cycle to take place in the next 12 months, the firm predicts that the value of Bitcoin may experience a significant rise. In particular, Pantera Capital’s projection highlights the potential for Bitcoin to climb to $35,000 before the halving and then rise to $148,000 afterwards. The crypto community is watching these predictions with great interest, as Pantera Capital’s reputation in the cryptocurrency investment space weighs in on its views. As the calendar approaches April 2024, market participants and enthusiasts will closely monitor emerging developments and the extent to which historical patterns align with expected projections.
