2021-03-23 05:29:02
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Bitcoin’s next bull run will take place this summer, during which Bitcoin will trigger a breakout above $ 100,000, according to the head of investment fund Pantera Capital.
Dan Morehead, CEO and co-chief investment officer at Pantera CapitalA well-known crypto hedge fund with more than $ 1 billion in assets under management, recently gave his personal opinion on where Bitcoin is going next.
His Bitcoin price prediction is based on analyst PlanB’s stock-to-flow model.
A stock-to-flow model is based on the simple principle of supply and demand, i.e. when supply decreases (or demand increases), the rarity of any asset class increases, and Bitcoin too (as it only has 21 million).
Accordingly, the number of new bitcoins created with each new data block every 10 minutes or so is halved every 4 years. In theory, according to the stock-to-flow model, bitcoin price will increase as the issue rate decreases.
Morehead’s predictions are of particular interest and interest, in part due to his long experience on Wall Street.
Before founding Pantera Capital in 2003, Morehead was the head of trading at the hedge fund Tiger Management and before that, he was also a teller at Deutsche Bank and the multinational investment bank Goldman Sachs.
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