Bitcoin News

Bitcoin Can Hit As High As $115k By This Summer – Analytic Update.

“Bitcoin is now running far ahead of our April 2020 forecast schedule – and can hit as high as $115K this summer,” added Dan Morehead, CEO, and co-chief investment officer at Pantera Capital, a blockchain hedge fund, within an official update.

The Pantera prediction is based on the stock-to-flow model – an analytical framework that values an asset’s price supporting its annual issuance schedule. The model measures the scarcity of Bitcoin [BTC], which is governed by the underlying schedule coded into the blockchain’s design when it had been launched 12 years ago.

Under that plan, the amount of new bitcoin created with each new data block, every 10 minutes approximately, gets cut in half roughly every four years. In theory, consistent with the stock-to-flow model, the bitcoin price should rise as the issuance rate declines.

Morehead’s predictions determine partly due to his prior Wall Street experience: Prior to founding Pantera earlier in 2003, he served as head of macro trading for the hedge fund Tiger Management, and also worked as a trader at Deutsche Bank & Goldman Sachs.

Bitcoin Can Hit As High As $115k By This Summer - Analytic Update.

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