It was December of 2020 when Bitcoin (BTC) managed to hit an all-time high overall and for the particular year. However, Bitcoin (BTC) had been constantly breaking records and hitting all-time highs every day until last week.
When Bitcoin (BTC) hit the $41k per BTC mark, reverted to $40k per BTC, and then $39k per BTC, it had gained the attention of the entire world. There were many analysts commenting on Bitcoin’s (BTC) sudden price drop and had the entire crypto-verse worried.
By Monday (January 11, 2021), Bitcoin (BTC) price had taken a huge plunge and came down to around $30k per BTC. It was not just Bitcoin (BTC) that experienced the drop but the entire cryptocurrency industry. It was reported that the entire cryptocurrency industry experienced a 20% drop in their market prices.
Even with this kind of fall and behavior, many investors did not think that Bitcoin (BTC) would be facing the same case as it did back in 2017. Many analysts even said that it was something very necessary for Bitcoin (BTC) because after that Bitcoin (BTC) will start showing gradual and stable growth.
When it comes to the supporters of Bitcoin (BTC), the CEO and founder of Pantera Capital ‘Dan Morehead’ has something to add to Bitcoin’s current growth. The founder of the Bitcoin (BTC) investment firm continues to adopt a bullish opinion and has predicted the same for Bitcoin (BTC) for the running year.
The prediction made by the CEO of Pantera Capital is very bold and if comes true, it will be the best prediction for Bitcoin (BTC) investors. As per Morehead, Bitcoin (BTC) will continue to grow in price and capitalization. With the amount of growth and adoption it is amassing, Bitcoin (BTC) is destined to hit really high figures.
According to the CEO of Pantera, Bitcoin (BTC) will manage to hit the price of $115,000 by August of 2021. Morehead made this prediction during a conference call with some of the prominent crypto-analysts. He stated that in the next eight months, Bitcoin’s price will experience a 200% surge in its value.
When it comes to making predictions, Morehead is considered to be some sort of crypto-psychic. He had made the same sort of prediction about Bitcoin’s (BTC) price surge back in 2020. It was in August 2020, when Morehead predicted that Bitcoin (BTC) will experience a 200% surge in its value in the next eight months.
When he made the prediction back in August 2020, Bitcoin (BTC) was sitting at $11,600 and at the time of publishing, the Bitcoin (BTC) price is at $38,500 per BTC.
Investors are hoping that Morehead’s prediction will eventually come true and help the currency achieve new goals.