BICOIN PRICE TARGETING $115,000 BY AUGUST OF NEXT YEAR!! BTC EYES NEW 2020 HIGH!!

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$115K BTC Pantera

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Crypto Titan Dan Moorehead, the CEO of Pantera Capital remains bullish on the Bitcoin price, which he notes BTC goes up, on average, a little more than 200% per year, despite the “manic” bull and bear runs that grab the headlines.

Based on his firm’s stock-to-flow analysis of previous halvings, Morehead says Bitcoin is projected to hit $115,000 by next August.

While he cautions that he wouldn’t necessarily take even odds on BTC actually surpassing that figure in 12 months, he does say it’s “definitely pretty possible.”

The CEO is more confident Bitcoin will crack $100,000 in two years’ time, comparing it to an early-stage venture investment opportunity that only looks different because it has real-time pricing.

Still, he warns investors to put in only as much capital into BTC as they can afford to lose and then “hold it for 10-15 years.”

In a new interview with Thinking Crypto, Dan Morehead says the company’s largest allocation is in Bitcoin, followed by Ethereum.

After that, Morehead lists Polkadot, Filecoin, Augur and 0x as other altcoins with large allocations at the firm.

In total, Pantera manages $600 million worth of assets in the crypto space, and the CEO says he personally invests in the firm’s capital funds.

He believes there is an inefficiency in the market that fails to completely price in the impact of Bitcoin’s halvings before they happen.

“Over the past two halvings, there have been very clear positive impulses. They start about a year and a quarter prior to the halving and they go for about 440 days after the halving. And what’s typically happened is the markets have gone up a bit into the halving, and then after the halving, over the next 440 days, they go up a ton.” 

Morehead says the crypto market is benefiting from significant changes in custody offerings, which offer institutional investors more ways to safely store their assets.

In other trending Bitcoin News today:

Chainlink Rival Band Protocol Surged 65% Overnight – 3 Reasons Why

Band Protocol (BAND), a rival blockchain network to Chainlink (LINK) — which is also at an all-time high — surged by 65%. Within 24 hours, BAND rose from $4.825 to $8, setting a new record high.

Three major catalysts appear to have triggered the rally of BAND, namely the DeFi (decentralized finance) boom, Coinbase listing and new partnerships. Since June 1, the total value locked in DeFi protocols increased from $1.04 billion to $4.47 billion.

The valuations of DeFi-related project tokens has risen substantially as the capital involved in the DeFi space surged by more than four-fold.

Band Protocol, like Chainlink, is a blockchain network for oracles. DeFi protocols rely on oracles to retrieve market data, as they cannot access raw data from other blockchains or websites.

As such, oracles are critical to the success of DeFi applications. As the DeFi market is rapidly expanding, the demand for oracles is also increasing in tandem.

DeFi projects technically could make their own oracles but it requires time and resources to develop them. That is where oracles like Band Protocol and Chainlink come in.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://cointelegraph.com/news/bitcoin-price-en-route-to-new-2020-high-once-bulls-break-118k-resistance

https://cointelegraph.com/news/chainlink-rival-band-protocol-surged-65-overnight-3-reasons-why

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