Pantera Capital Predictions: Bitcoin Could Rise to $147,843 After the Halving in 2024.
24 Aug 2023, 16:26
Pantera Capital Predictions: Bitcoin Could Rise to $147,843 After the Halving in 2024
Analysts at Pantera Capital have given their predictions on the future value of bitcoin in light of the upcoming halving scheduled for April 2024. They estimate that digital gold could rise to $35,448 in the run-up to the event and then begin a rapid ascent, reaching as high as $147,843.
These predictions are based on the concept of Stock-to-Flow, which takes into account the ratio of bitcoin's reserves to its annual production. Past halvings have historically been accompanied by an increase in bitcoin prices, as halving the reward to miners affects the balance between supply and demand.
The previous halving in 2020 reduced new coin output by 43%, which impacted the price. Analysts point out that if this scenario repeats itself, closer to the next halving, the bitcoin price could rise to $35,000 before the event and possibly even reach the $148,000 mark after the reduction in miner rewards.
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