Dan Morehead, CEO of Pantera Capital, predicted in the Bankless podcast that the major bull cycle in the cryptocurrency market will peak in 2025. Morehead explained that Bitcoin's price action has always followed a four-year halving cycle. Historically, Bitcoin's price has seen a sharp rise around these events, with the last halving occurring in April 2024.
Based on historical trends, Morehead predicts that Bitcoin will reach its cycle peak in August 2025. He stressed that despite milder market conditions than previous cycles, the upcoming rally still looks worth looking forward to.
He said: "The outlook for 2025 is very optimistic, not only because of the halving event, but also because political and macroeconomic factors are aligned with the development of cryptocurrencies." Morehead's target price for Bitcoin's peak is $117,000, an 18% increase from the current price. He added that historical data shows that the impact of the halving began about 400 days ago and the peak occurred about 480 days later.
Back in 2022, when Bitcoin was trading at $17,000, Pantera Capital correctly predicted that Bitcoin would reach $28,000 at the time of the halving, and Morehead is now confident in his prediction that Bitcoin will reach $117,000 by August 2025.
(Cryptodnes)
Jixu
