Bitcoin halving can take BTC price to $148K by July 2025 — Pantera Capital
Bitcoin (BTC) is due to hit nearly $150,000 during its next four-year halving cycle, Pantera Capital believes.
In its latest “Blockchain Letter” released on Aug. 22, executives at the crypto asset manager doubled down on their bullish BTC price forecasts for 2024 and beyond.
Bitcoin price performance depends heavily on its halving cycles, Pantera Capital argues, and with the next due within the coming twelve months, the firm is betting that historical trends will continue.
BTC/USD, it notes, tends to put in a cycle bottom and top roughly equal lengths of time from each block subsidy halving, which cuts the number of Bitcoins paid to miners per block by 50%.
“Bitcoin has historically bottomed 477 days prior to the halving, climbed leading into it, and then exploded to the upside afterwards,” it wrote.
That same theory suggests that the 2022 bear market bottom marked the current BTC price cycle bottom.
“IF history were to repeat itself, the price of bitcoin should have troughed December 30, 2022,” Pantera continued.
Looking forward, by the halving date in April 2024, BTC/USD could be trading at around $35,000 — something that it is still on track to accomplish.
What happens in the 480 afterward, however, involves not only a new all-time high but much more.
“The 2016 halving decreased the supply of new bitcoins only one-third as much as the first. Interestingly, it had exactly one-third the price impact. The 2020 halving reduced the supply of new bitcoins by 43% relative to the previous halving. It had a 23% as big an impact on price,” Pantera stated.
480 days from an April 2024 halving makes Bitcoin scheduled to hit its next all-time high by July 2025.
Pantera is far from alone in predicting six-figure BTC price highs beyond next
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