• Home
  • Bitcoin News
  • Blockchain News
  • CBDC News
  • NFT News
  • New to Crypto?
  • About
  • Contact
Facebook Twitter Instagram
Todayq News
  • News
  • Bitcoin
  • Metaverse
  • NFT
  • Blockchain
  • New to Crypto
  • Contact
Twitter Facebook Instagram LinkedIn
Todayq News
News

Dan Morehead predicts Bitcoin will hit $115,000 in August 2021

By Mukul Anand14 January 2021, 07:45 PM
Dan Morehead predicts Bitcoin will hit $115,000 in August 2021

Dan Morehead, Founder, and CEO of Pantera Capital, an investment firm focused exclusively on projects related to blockchain and crypto assets, believes that in August 2021, Bitcoin will hit $115,000.

In a conference call, he said

The picture for crypto is just so strong right now. Six or so months ago, Bitcoin’s market cap was the same as L’Oreal Cosmetics, it’s now past Facebook, and that is just a huge difference in how the market perceives Bitcoin.

Joey Krug, co-chief information officer of Pantera, added

It’s pretty different than in 2017. The high-level fundamentals for 2017 was that there really wasn’t much fundamentals at all, most projects were just an idea on a piece of paper, most things hadn’t launched, most things didn’t have live products.

Bitcoin has gained popularity to such an extent that publicly traded companies, and traditional financial institutions have introduced Bitcoin to their balance sheet. Massachusetts Mutual purchased $100 million in Bitcoin, invested 1% of total assets into the digital currency, and Morgan Stanley has more than 10% of MicroStrategy equity.

Last August, Bitcoin was trading around $11,500, and at the time of writing, it is trading at $38,201. This gives us a clear idea of Bitcoin growth. Morehead also said

Is bitcoin overvalued? I would say no. […] Bitcoin has spent three years well below its long-term compound annual growth trend line, it’s still below it, and although Bitcoin has rallied a great deal over the last six months, I think it is fairly valued.

After Pantera Capital CEO Dan Morehead’s views, traders have an optimistic emotion for the cryptocurrency market, especially for Bitcoin. Biden administration can also be a pivotal reason to help Bitcoin rise. Further, Joe Biden plans to provide Americans with $2,000 in stimulus payments to help the economy recover. As a result, most investors are likely to move to options like Bitcoin to protect their money.

Bitcoin Dan Morehead Pantera Capital
Share. Facebook Twitter LinkedIn Telegram WhatsApp Reddit

Comments are closed.

Must Read

Suzhou: The next frontier in China’s Metaverse hub development

Meta to continue investing in Reality Labs despite recording a $13.7 billion loss in 2022

Tesla bleeds over $140 million after Bitcoin bet goes sour

Indian budget session leaves Crypto industry disappointed

Instagram
Recently, J.P. Morgan, an American multinational financial services company, in its latest e-trading trends survey of 835 institutional traders, attempted to gauge market sentiments for the coming year.
On Thursday, one of the largest retail Indian chains, Reliance Retail, announced that they have started accepting the digital rupee at one of its store lines and plans to extend the rollout to all its businesses.
The past year was challenging for cryptocurrencies with the prolonged bear market and the collapse of firms but the investors have put their confidence in the assets.
The United Kingdom, with the advent of its new prime minister in 2022, was expected to play a tremendous role in the adoption and regulation of cryptocurrencies and digital assets in the nation.
Crypto by TradingView
Twitter Facebook Instagram LinkedIn
  • About
  • Careers
  • Advertise
  • Privacy
All rights reserved by Todayq Technologies PVT. LTD.

Type above and press Enter to search. Press Esc to cancel.