The CEO of Pantera Capital, an investment firm focused on digital assets, predicts that the cryptocurrency market’s bull cycle will peak in 2025.
In a recent interview on the Unbanked podcast, Dan Morehead stated that Bitcoin’s (BTC) price pattern is still based on a four-year halving cycle. The Bitcoin halving event refers to the reduction of miners’ block rewards, leading to a tightening of supply. Historically, Bitcoin’s price has risen both before and after halving events, with the last halving occurring in April.
Morehead uses historical precedents to predict that Bitcoin will reach its cycle peak in approximately seven months. “August 2025 will be the peak. Everything is gearing up for this. We have these conversations every four years, and it’s been 12 years, so I know it sounds ridiculous, but at least we always predict that the magnitude of the previous halving cycles is much larger. This cycle is smaller, but I still think it’s very real. It’s just the halving thing, but everything politically and macro-wise is preparing for the development of cryptocurrency. So it’s hard not to be optimistic about 2025.”
Morehead indicated that the target price for Bitcoin’s cycle peak is $117,000, representing an increase of over 18% from its current value. “Our data shows that the halving starts about 400 days before the actual halving, affecting the market low, followed by a peak 480 days later. It’s been this way every time. Two years ago, when Bitcoin was priced at $17,000, we predicted it would reach $28,000 at the halving, and then 480 days after the halving in August of the following year, it would hit $117,000.”
At the time of writing, Bitcoin is trading at $98,713, having risen 3.8% in the past 24 hours.
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