Through’Pantera Blockchain Letter’, CEO Dan Morehead of Blockchain Hedge Fund, Pantera Capital, released on his blog on the 17th, the price of bitcoin in August 2021 exceeded $115,000 (KRW 130.12 million). It will stand.”
“Bitcoin prices are rising faster than we had predicted in April of last year,” said Morehead’s CEO. “The era of bitcoin is coming.”
Pantera Capital has been steadily releasing “blockchain letters” that contain forecasts of the blockchain industry and bitcoin price since 2019. Pantera Capital’s forecasting report is based on a’stock-to-flow ratio’ model that is used as a tool for valuation of assets such as gold and silver. It is a technique that measures the scarcity of bitcoin in the market and predicts the price by using bitcoin half-life. In their April report last year, they predicted that the price of bitcoin on March 15 this year to be $52,943 and the price of bitcoin as of August 1 to $11,5212.
In this letter, Morehead said, “The US government is going into an unprecedented structural deficit, with 31% more expenditures than revenues.” The price of cryptocurrency will rise,” he predicted.
“In the next 12 months, bitcoin prices will be able to enter a new phase,” Morehead emphasized. “My guess is that it will take two to three months for institutional investors to sort out the current portfolio problem, and three to six months to study the current situation and new opportunities like cryptocurrency, and then as they start allocating assets, cryptocurrency prices “The rise will come true.”
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