Pantera Fund: In 2018, Bitcoin will be $ 20,000.
Pantera Capital Management, a hedge fund that focuses on crypto currencies, said that in the April bulletins Bitcoin (BTC) is probably the lowest level for the crypto-currency unit at $ 6,500 and that "probably" the BTC's price is above $ 20,000 this year he said. The Wall Street Journal (WSJ) reported on Friday (April 13th) this news.
In December of last year, Pantera Capital Dan Morehead's CEO predicted that Bitcoin's price could go down by 50 percent before reaching the new peak, and the first part of this forecast was realized with a depreciation of 65% in February.
Bitcoin prices have risen by as much as $ 1,200 to $ 8,200 after a total of $ 37 billion entered the market in 3 hours ahead of the market in half an hour and then lost 3% in the 24 hours we were experiencing. Prices are likely to climb above these levels.
In his April issue, Morehead wrote, "he rarely has a very strong sense of timing." Markets entry of corporate money will further increase the market. Earlier this week, several Wall Street gamers stepped into crypto currency as Rockefeller's venture capital firm Venrock co-operated with crypto investment company Coinfund.
In addition, a Goldman Sachs official was reported to have taken Michael Novogratz's decision to join the crypto trading bank, and the Soros Management Fund was reported to start the crypto trade.
Morehead voiced that Bitcoin has recently fallen below the 200-day moving average, and that purchases to be made from these levels, where the death cross has taken place, may be an opportunity.
"If you get an asset with the highest value of $ 20,000 at a price of $ 7000, it's probably a good trade."
According to Morehead, in the past, only four cryptos have made trade proposals for money.
A possible reason for the recent price increase of BTC is that it is entering the crypto money market again after paying the taxpayers' taxes in preparation for the tax day in the United States on April 17th. The reason for this was a description of Fristrat Tom Lee's explanations of the crypto market for the general decline since the new year.
Morehead agrees with this analysis as a result of the decline of the crypto market for the new year and writes, "Some of the sales pressure on the market can be imagined to be unwanted tax positions."
Tim Draper, a wealthy investor, predicts earlier this week that Bitcoin will reach $ 250,000 by 2022. Draper's 2014 estimate - when BTC was around $ 320 - BTC would reach $ 10,000 in 2017.
Provided that the increase in bitcoin is permanent, it may be a shorter period, as it is the case that the prices turn from one to the bull trend at a date after August and repeat the previous year. Based on 2014, it is promising that the downward trend will be broken even though the charts are almost identical. I hope Bitcoin continues to break new records by keeping himself alive and succeeds in making the face of investors laugh.