RATE Group | Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years
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Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years

25 Jul Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years

Posted at 02:22h in Bitcoin News by

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Pantera Capital founder Dan Morehead discussed how Bitcoin (BTC) could hit $42,000 by the end of 2019, and even has the potential to reach $356,000 within a couple years. Morehead delivered his comments on an episode of the Unchained podcast on July 23.

Morehead specifically said that he predicts BTC will hit $42,000 by the end of the year, and climb to $356,000 by 2022. Morehead claimed that this would be consistent with the top cryptocurrency’s logarithmic growth rate:

“Graph the price of Bitcoin logarithmically […] its trend is going to grow at 235% compound annual growth rate and […] that put Bitcoin at $42,000 at the end of 2019. And I know this sounds crazy but we’re essentially halfway back there. […] I think it’s a good shot that by the end of the year we hit that. And if you just extrapolate that line out for another year it’s $122,000 per Bitcoin and then one more year, $356,000.”

Morehead also spoke about technological developments in the Bitcoin network,…

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