• About Us
  • Privacy Policy
  • Contact Us
No Result
View All Result
Unblokkt
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Unblokkt
No Result
View All Result
Home Ethereum

Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving

by admin
August 22, 2020
0
Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving
0
SHARES
168
VIEWS
Share on FacebookShare on Twitter


Quick take:

  • Bitcoin (BTC) has once again reclaimed $9,000 with 5 days until halving. 
  • Pantera Capital’s CEO, Dan Morehead, sees a scenario where BTC hits $115,212 by August 2021. 
  • His analysis is based on the change in the stock-to-flow ratio across each halving. 

The hype and excitement surrounding the Bitcoin halving event is once again evident in the current price of BTC. At the time of writing this, Bitcoin has just broken both the $9,000 and $9,100 resistance levels and is trading at $9,261 with 5 days until halving. A brief analysis of the BTC/USDT 6-hour chart reveals that there is renewed buying interest as we draw closer to the estimated halving date of May 12th.

6-Hour BTC/USDT chart courtesy of Tradingview.com

Pantera Capital CEO Predicts Bitcoin (BTC) Could Hit $115k After Halving

With the Bitcoin halving only days away, Pantera Capital CEO, Dan Morehead, has predicted that BTC could hit $115,212 by August of 2021. His analysis is based on the change in the stock-to-flow ratio across each halving. Mr. Morehead made this predication via twitter and further elaborated on his analysis via an informative Medium blog post. His tweet can be found below.

#bitcoin could hit $115,212 in Aug 2021 based on the change in the stock-to-flow ratio across each halving.

More details here: https://t.co/fMYDXAT5qy pic.twitter.com/02uCpVoGKN

— Dan Morehead (@dan_pantera) May 5, 2020

Further highlighting key points from his Medium post, Mr. Morehead explained how a reduction in supply of BTC after each halving, will impact the price of Bitcoin.

One potential framework for analyzing the impact of halvings is to study the change in the stock-to-flow ratio across each halving. The first halving reduced the supply by 15% of the total outstanding bitcoins. That’s a huge impact on supply and it had a huge impact on price.

Each subsequent halving’s impact on price will likely taper off in importance as the ratio of reduction in supply from previous halvings to the next decreases.

Furthermore, his analysis went on to elaborate on the impact each halving has had on the price of Bitcoin.

The second having decreased supply only one-third as much as the first. Very interestingly, it had exactly one-third the price impact.

Extrapolating this relationship to 2020:

The reduction in supply is only 40% as great as in 2016. If this relationship holds, that would imply about 40% as much price impulse — bitcoin would peak at $115,212 /BTC.

Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving 15
Image courtesy of Pantera Capital on Medium.com

What is Stock-to-Flow Ratio?

The Stock-to-flow ratio is a measure traditionally used to gauge the abundance of commodities. It is calculated by dividing the amount of a commodity held in inventories, by the amount being produced annually.

In the case of Bitcoin, it is calculated by dividing the currently known supply of Bitcoin by the BTC mined annually. At the time of writing this, there is approximately 18.365 Bitcoin already mined with an annual production of 657,000 BTC per year. This results in a Stock-to-flow ratio of 27.9.

(Feature image courtesy of Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.





Source link

Tags: 115kBitcoinBTCCapitalCEOHalvingHitPantera

POPULAR NEWS

Stratus Sets Out Make History and Redefine The Social Media Ecosystem

Stratus Sets Out Make History and Redefine The Social Media Ecosystem

September 9, 2020
SecuX Review 2021: Secure Your Crypto Portfolio Properly

SecuX Review 2021: Secure Your Crypto Portfolio Properly

March 16, 2021

Project Rundown Interview with BNBPay

November 2, 2021
The CargoX Platform

The CargoX Platform for Blockchain Document Transfer (BDT), fueled by CXO token, officially approved blockchain technology provider for ACI customs declaration in Egypt

April 21, 2021
Uniris: The Future of Identity

Uniris: The Future of Identity

October 21, 2020

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • LocoMeta Introduces a Metaverse Game Centered around NFTs
  • METALIFETECH Announces Token Presale as Part of Phase One of Its Emerging Metaverse Ecosystem Roadmap
  • US Congress introduces record number of crypto related bills
  • Great Apes NFT set to launch an APE NFT in the Solana Ecosystem, aims to reshape the NFT field

© 2020 unblokkt.com

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 unblokkt.com

  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • yfBetayfBeta(YFBETA)$4.27-0.10%
  • IDLEIDLE(IDLE)$1.44-12.39%
  • WPP TokenWPP Token(WPP)$0.006826-3.49%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003679-6.88%
  • lympoLympo(LYM)$0.004392-4.43%
  • Werewolf CoinWerewolf Coin(WWC)$0.098082-2.58%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • Dev ProtocolDev Protocol(DEV)$1.76-16.14%
  • EvidenZEvidenZ(BCDT)$0.122918-4.28%