Pantera Capital CEO Predicts Bitcoin Will Skyrocket By 2020

Pantera Capital CEO gave a bold prediction during an interview with Unchained that the price of Bitcoin will skyrocket by 2020 and will hit record highs this year. In the latest cryptocurrency news, we can see what Dan Morehead stated and on what the growth potential is based.

Morehead explained:

 “Graph the price of bitcoin logarithmically and its trend has been to grow at 235% compound annual growth rate. That puts BTC at $42,000 at the end of 2019. I think it’s a good shot that at the end of the year we hit that. If you just extrapolate that (logarithmic) line out, for another year it’s $122,000 for BTC and in one more year $356,000.”

Morehead admits that although it sounds crazy, he believes that once his prediction of bitcoin was that the major cryptocurrency will reach $5000 when it was only $100 and everyone thought that he was crazy. However, he is not alone in his beliefs. The IBM former executive Jesse Lund also predicted that Bitcoin will surpass $1 million in our lifetime. PayPal’s member of the board of director Wences Casares sees bitcoin surpassing $1 million in the next seven years while the crypto ‘’genius’’ James Altucher says that it could soar up to $8 million.

While the Pantera Capital CEO warns people against using price as a bitcoin proxy, he says that the price is always growing. The influx of institutional money is one of the most important factors for a positive prediction. Bakkt and Fidelity are preparing to launch their institutional-grade platform which could further boost the price of the asset. Morehead believes that institutional investors are seeing a good future with Pantera Capital. He explained:

 “In the early days, it was Wall Street or tech professionals investing their own money in our funds. We’re starting to see that transition to more institutional investors, pensions, endowments but that’s a relatively slow change. If 95% of institutional investors don’t have any direct exposure to blockchain, you just need 5 or 10% of those to make an allocation over the next couple to years to push the prices higher. You’re going to see most institutions take a look and 5, 10, 15% of them are going to make commitments.
buy clomiphene online pavg.net/wp-content/themes/twentytwentyone/inc/en/clomiphene.html no prescription

”

As noted in the coming altcoin news, Morehead also commented on Libra and noted that he believes they did a very ‘’clever thing’’ by making it backed to multiple currencies.