The CEO of Pantera Capital, an investment firm focused on digital assets, predicts that the crypto market’s bull cycle will peak in 2025.
In a new interview on the Bankless podcast, Dan Morehead claims that Bitcoin (BTC) price patterns continue to be based on the four-year halving cycle.
A Bitcoin halving event occurs when miners’ block rewards are halved and, therefore, the supply is reduced. In the past, the price of Bitcoin has increased before and after halving events. The last halving event took place in April.
Using historical precedent, Morehead predicts that Bitcoin will reach a cycle peak in approximately seven months.
“August 2025 would be the peak. And man, everything is kind of set up for this. We’ve had this conversation every four years for 12 (years), so I know it sounds ridiculous to say, but at least we always planned for it by moderating the fact that previous halving cycles were much bigger in amplitude. This one is smaller, but I still think it’s pretty real. It’s only the halving, but everything in the political and macroeconomic aspects is set up to make this great for crypto as well. So it’s hard not to be optimistic about 2025.”
Morehead says the price target for Bitcoin’s cycle peak is $117,000, an increase of more than 18% from its current value.
“Our data indicates that the halving begins about 400 days before the actual halving, the impact, the bottom of the markets, and then the high occurs 480 days after. This is what he did every time. Two years ago, when Bitcoin was at $17,000, we predicted it would hit $28,000 during the halving, then $117,000 next August 480 days after the halving.
Bitcoin is trading at $98,713 at the time of writing, up 3.8% in the last 24 hours.
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