? Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years
▪️ Pantera Capital founder Dan Morehead discussed how Bitcoin (BTC) could hit $42,000 by the end of 2019, and even has the potential to reach $356,000 within a couple years. Morehead delivered his comments on an episode of the Unchained podcast.
▪️ Morehead specifically said that he predicts BTC will hit $42,000 by the end of the year, and climb to $356,000 by 2022. Morehead claimed that this would be consistent with the top cryptocurrency’s logarithmic growth rate:
▪️ “Graph the price of Bitcoin logarithmically ... its trend is going to grow at 235% compound annual growth rate and ... that put Bitcoin at $42,000 at the end of 2019. And I know this sounds crazy but we’re essentially halfway back there. ... I think it’s a good shot that by the end of the year we hit that. And if you just extrapolate that line out for another year it’s $122,000 per Bitcoin and then one more year, $356,000.”
▪️ Morehead also spoke about technological developments in the Bitcoin network, stating that the number of possible transactions per second — a persistent problem for Bitcoin — will rapidly increase as the technology is developed.