Manage episode 347510747 series 2835096
Right now, most crypto investors would be grateful for the Bitcoin price to reach $20,000. The spectacular collapse of cryptocurrency exchange FTX has pushed down the price of BTC to the $16,000 level. And some traders are now suggesting that Bitcoin could touch $15,000 or lower before it ever sees $20,000 again.
So it's interesting to see that California-based crypto hedge fund Pantera Capital is putting out what seems to be -- at first glance -- a ridiculously high price target of $149,000 for Bitcoin. According to Pantera Capital, the one catalyst that has the potential to drive Bitcoin significantly higher in the near-term future is the next Bitcoin halving, scheduled to take place in March 2024. But just how realistic is this price target?
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