Bitcoin Could Hit $115K by August, Pantera’s Morehead Writes
“Bitcoin is now ahead of our April 2020 forecast schedule – to hit $115K this summer,” wrote Dan Morehead, CEO and co-chief investment officer at Pantera Capital, a blockchain hedge fund, in an emailed newsletter.
The Pantera prediction is based on the stock-to-flow model – an analytical framework that values an asset’s price based on its annual issuance schedule. The model measures the scarcity of bitcoin (BTC), which is governed by the underlying network programming coded into the blockchain’s design when it was launched 12 years ago.
Under that plan, the number of new bitcoin created with each new data block every 10 minutes or so gets cut in half roughly every four years. In theory, according to the stock-to-flow model, the bitcoin price should rise as the issuance rate declines.
Morehead’s predictions carry weight partly because of his prior Wall Street experience: Before founding Pantera in 2003, he served as head of macro trading for the hedge fund Tiger Management, and before that he worked as a trader at Deutsche Bank and Goldman Sachs.
Recommended News
-
The most anticipated chain game at the end of 2021–islandswap
If 2020 is the first year of DeFi’s explosion, then 2021 is undoubtedly the first year of GameFi’s explosion. Axie has become a phenomenon product whose monthly income has surpassed that of Honor of Kings, depicting a broad prospect of chain games for the public. The fitting concept “metaverse”, as well as the upgrading of policy and supervision, have pushed the chain games to a new climax. The shift from the traditional “Free to Play” to “Play to Earn” (P2E) mode has allowed many chain players to take advantage of GameFi. If you…
-
Crypto Long & Short: Bitcoin’s Relationship With Gold Is More Complicated Than It Looks
Earlier this week, JPMorgan published a global markets strategy note that points out that money has flowed out of gold and into bitcoin since October, and predicts that this trend will continue over the medium to longer term. The easy conclusion is that investors are finally understanding that bitcoin (BTC, -0.62%) is a superior future store of value to gold, and are rotating out of one and into the other. I’m not convinced that’s what we’re seeing. I agree with the analysts, though, that inflows into bitcoin will continue to increase, but not because investors are changing…
-
Genesis NFT airdrop in Europe and the US——MotorN’s love is coming！
The United States in North America is the global leader in the PC Internet Web1.0 era, and China in Asia is overtaking in the mobile Internet Web2.0 era, while the main force of the development of web3.0 is still in Europe and the United States, and Web3.0 is becoming a new field of “fighting” for the Internet giants in Europe and the United States in 2022. The next decade is the golden age of web3.0 development, instead of hesitating in the retreating web2.0, why not stride into web3.0 and find…
-
Crypto Investor MetaKovan Announced as Buyer of $69.3M Beeple NFT
MetaKovan, the pseudonymous founder of non-fungible token (NFT) fund Metapurse, is the proud owner of the Beeple NFT auctioned by Christie’s on Thursday for $69.3 million. “When you think of high-valued NFTs, this one is going to be pretty hard to beat,” MetaKovan said in a press release issued by the 255-year-old auction house. MetaKovan paid for Beeple’s “Everydays” in ether (ETH, -2.04%), Christie’s confirmed, beating out Tron founder Justin Sun in a last-minute bid. The final sale price was 42,329.453 ETH. Appearing on CoinDesk TV earlier Friday, Beeple (aka Mike Winkelmann) said, “I probably will keep a percentage…
-
$HWT Performs Admirably with a 710% Spike in the Season of Love
“Fly me to the moon, let me play among the stars”, an instant classic song from the 60s by Count Basie and Frank Sinatra. Does it automatically send a tune ringing in your heart? Well, it is only logical this Valentine’s Day to save the best to be treasured for for your loved ones, family and friends. From love letters, chocolate boxes, truffles, bouquet of flowers, candlelight dinners and more, leave a lasting memory that will last forever in the hearts of your loved one or partner. It is…
-
BlackHoleDAO Is Taking Part In The Interpretation Of New Defi3.0
1、What Is the BlackHoleDAO protocol? BlackHoleDAO is a decentralized asset management protocol based on the governance of DAOs. An entirely new standardized framework entitled BHDP is built on basis of DeFi3.0. The burning mechanism of this BHDP uses the standard stock market merging and splitting approach to handling the market’s imbalance between strong inflation and deflation. The DAO’s credit-based lending service also becomes operational. Features: The BlackHoleDAO protocol’s primary concept is to mint extra tokens by the smart contract’s base tokens. In the following aspects, it is unique. Ecology’s Responsiveness…
-
NeorderDAO Liquidity Solution, FOMO Trading Prize Pool System
The beginning of human society was made up of individual human beings. At that time it could not be called a society, because at that time man was only a member of the animal world, not more advanced than other animals. The reason why man became a senior animal, can be at the top of the food chain, it is because man found the evolutionary journey of the “Pass key” — Social. Along with the rapid development of human technology, the social field has undergone several changes. Now, under the influence…
-
Преодолевая дилемму GameFi « Спираль смерти » и анализируя экономическую модель Murphy
С момента взрыва Axie Infinity в этом году на рынке появилось множество продуктов GameFi. GameFi может быть понят как система блочных цепочек игр, которая включает в себя токен-экономическую модель, игра и DeFi, таким образом, представляет финансовый механизм в gamification, простое понимание состоит в том, что в игру добавлена финансовая реализация, чтобы сделать участников более интересными в процессе получения прибыли. В GameFi игроки могут зарабатывать замещающие валютные награды во время игры, жетоны используются для покупки оборудования, улучшения персонажей и т. Д., Также они могут продавать на вторичном рынке, чтобы получить прибыль…
-
Metaease takes you into the real Metaverse
As of now, Metaverse has a market cap of $100 billion, and if you include Facebook’s market capitalization, then Metaverse’s market capitalization is at least $1,100 billion. According to Bloomberg research, the “metaverse” market is expected to reach $800 billion by 2024 and 2.5 trillion by 2030. The future of the metaverse market is immeasurable, but there is always a hidden side to the glory, and the metaverse industry is no exception. Let’s take a look back at 2021 on the internal situation of the entire metaverse industry. GameFi’s play…
-
Ex-Tether Exec Quigley Disappointed in Current Management, Urges Audits
A co-founder of Tether, the $41 billion company behind the tether (USDT, -0.02%) stablecoin, said the company and its reserves should be audited at least quarterly, and maybe even monthly. “Every time you print a tether, you should have a dollar being added to that cash pool,” said William Quigley, who left the project in 2015 and now runs the non-fungible token (NFT) exchange WAX. “Audited once a month, once a quarter.” The comments on CoinDesk TV come after Tether last month agreed to a $18.5 million settlement with the New York Attorney General on charges of an…
