Bitcoin on its way to $ 115,000 as of August 2021?

The hedge fund Pantera Capital estimates that Bitcoin’s trajectory will take it to $ 115,212 by next August. Thus, the strong corrections of the previous week would be normal.

Bitcoin’s value has followed an erratic course in recent days. Cryptocurrency is currently characterized by very high volatility. Last week, BTC suffered from a major correction.

What would challenge the scenarios of a Bitcoin over $ 100,000 this year? This is not the opinion of the analysts at Pantera Capital. An investment firm and hedge fund, he predicts BTC at $ 115,212 by August 1.

The impact of the 2020 halving driving the increase

Pantera believes that the cryptocurrency is currently following the trajectory defined by the stock-to-follow model. This hypothesis thus joins that of PlanB. On Twitter, the analyst expects a price of between 100,000 and 288,000 dollars by December 2021.

Why then such corrections? Due to Bitcoin’s too rapid rise. Its value thus exceeded the projection of the S2F model. But Pantera Capital considers sharp corrections and phases of consolidation to characterize a bull market.

As a result, Bitcoin’s advance is expected to continue over the next few months, until it crosses the $ 100,000 mark. More cautiously, Binance US CEO Catherine Coley anticipates a price of between $ 75,000 and $ 100,000 by the end of 2021.

The latter does not however claim the stock-to-follow model. For its estimates, this is based on the impact on the price of halving. This event consists of dividing the bonus for mining new blocks by two.

Bitcoin and Ether concentrate value

Each halving thus contributes to increasing the scarcity of cryptocurrency. And according to the S2F model, the price impact appreciates after a period of about 6 months. Bitcoin’s current performance would therefore be between the 2012 and 2016 market cycles.

How to buy Bitcoins easily?

Translation: The price of bitcoin could reach $ 300,000 to $ 400,000 around 450 days after the last halving. At least that’s the theory. But to explain the growth of the cryptocurrency market, Pantera relies on other parameters as well.

Note, however, that this increase mainly benefits Bitcoin and Ether (ETH), which concentrate value. Institutional investors have so far opted for the two most mature crypto-assets to invest in cryptocurrency.

‚ÄúThis rally is different. According to PanteraCapital, massive switch from highly speculative and non-functional tokens in 2017 to #Bitcoin and #Ethereum today, “Visa executive Andy Yee said on Twitter.

In fact, Bitcoin and Ether account for 86% of the value. The other 5,000 blockchains thus weigh only 14%. During Bitcoin’s previous ATH in 2017, the first two cryptocurrencies accounted for 52% of the value. Consolidation has therefore intensified since.

Posted In BTC

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