Pantera Capital Makes $148,000 Bitcoin Price Prediction, While Bitcoin BSC Hits $100,000 Milestone
Pantera Capital, a leading name in crypto asset management, recently projected that Bitcoin (BTC) could rise to around $148,000 during its next four-year halving cycle.
The firm’s latest “Blockchain Letter” highlights its bullish outlook for 2024 and further dives into various driving factors.
This announcement comes as Bitcoin BSC, another derivative of Bitcoin, reaches the $100,000 milestone in its ongoing presale that launched just two days ago on 5 September.
With the broader optimism around Bitcoin’s long-term future, many investors also anticipate Bitcoin clones performing well.
Factors Behind Pantera Capital’s Bold Bitcoin Price Prediction
Key to Pantera’s Bitcoin price forecast is the Bitcoin halving event scheduled for April 2024. Halving events reduce miner rewards by 50%, curbing the rate at which new Bitcoins enter circulation.
This reduction increases Bitcoin’s scarcity, giving it a unique edge over inflationary assets like fiat currencies.
For instance, the last halving in 2020 saw a huge spike in the BTC price within the subsequent months.
Another influential moment for the crypto industry came when Ripple Labs secured a favorable legal outcome in July.
The ruling uplifted the market sentiment, reinforcing the view that regulatory frameworks could be more accommodating to cryptos in the future.
The market got another boost when BlackRock, the world’s largest asset manager, filed for a Bitcoin spot ETF.
This filing signaled increasing institutional interest and put additional credibility on Bitcoin as an investment vehicle.
Pantera Capital extensively referenced Bitcoin’s historical data to back its forecast. As the firm notes, the Bitcoin price has consistently increased following their halving events.
For instance, Bitcoin reached a prior cycle high approximately 16 months after its 2016 halving.
Also, Pantera has identified predictable patterns around each halving event by utilizing the stock-to-flow model, which measures Bitcoin’s existing supply against new production rates.
While the firm successfully predicted Bitcoin’s surge to its high of around $63,000 in April 2021, it also had its share of miscalculations, like the underestimated prediction of $6,500 in April 2018.
What Lies Ahead For The BTC Price?
Based on the upcoming 2024 halving, Pantera estimates that the Bitcoin price will trade at about $35,000 before the event.
It highlights that if past trends hold, the crypto will rise to around $148,000 in over a year post-halving, setting a new record by July 2025.
While some analysts agree with the six-figure valuation, most argue that reaching such heights will happen after the 2024 halving.
Pantera’s $148,000 Bitcoin price prediction and Bitcoin BSC’s $100,000 milestone fuel the optimism surrounding Bitcoin and its derivative platforms’ future.
While Bitcoin BSC is still in its early stages, early buyers can capitalize on its upside potential over the coming months.
As a result, many investors are rushing to buy Bitcoin BSC while its initial market cap is still 100,000 lower than that of Bitcoin.
Bitcoin BSC (BTCBSC) – New High-APY Staking Token That Raised Over $100K In Two Days
Bitcoin BSC (BTCBSC) is a hot new staking token built on Binance Smart Chain. It’s designed to offer periodic returns every 10 minutes to its users.
Modeled on the historical Bitcoin price and circulating supply in 2011, BTCBSC is priced under a dollar with a supply of 6 million.
It is worth noting that the broader market is reacting positively to Bitcoin clones. For instance, BTC20, launched earlier in 2023 on Ethereum, sold out its initial $6 million offering in two weeks and jumped by 7x after its Uniswap listing.
Unlike the traditional Bitcoin, which operates on a Proof-of-Work model, BTCBSC leverages a Proof-of-Stake approach. This feature allows you to earn just by holding and staking your tokens.
When buying using BNB or USDT BEP-20, holders can lock their BTCBSC tokens in the staking pool, using the ‘buy and stake option’. The reward? More BTCBSC tokens – adding an incentive for buyers to invest long term.
A significant 69% of the total token supply, or 14.455 million BTCBSC tokens, is earmarked for staking rewards and will be released over 120 years, aligning with Bitcoin’s long-term vision.
Tokens are distributed every 10 minutes during block confirmations, generating a consistent income for holders.
Suppose 100,000 BTCBSC tokens are staked in the pool, and you stake 20,000. You’ll receive 1/5th of the rewards generated per block.
At press time, the platform offers an Annual Percentage Yield (APY) of over 3,000%, making it an enticing option for early participants as they can benefit from the compounding of returns.
Why Binance Smart Chain? Speed and cost-efficiency can help BTCBSC stand out. Bitcoin BSC transactions are quicker and cheaper than Ethereum or Bitcoin, offering a smoother user experience.
Per the Bitcoin BSC whitepaper, BTCBSC has a 21 million token cap, similar to Bitcoin’s. Of this, 6.125 million tokens are available initially. The presale offers 4 million tokens, with an extra 2.125 million in reserve for demand surges.
The presale has a $3.96 million hard cap. It can extend to $6.125 million by releasing the reserved tokens. Any remaining tokens will be allocated to the staking pool.
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