Dogecoin Stock – Bitcoin Price Prediction 2021: Can BTC Really Reach $ 115,000 By The End Of Summer? | Fintech zoom
Dogecoin Stock – Bitcoin Price Prediction 2021: Can BTC Really Hit $ 115,000 By The End Of Summer?
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The price of Bitcoin (CCC:BTC-USD) could be significantly higher based on an analysis by Dan Morehead, CEO of Pantera Capital.
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Bitcoin is currently above the company’s forecast, according to Morehead. Pantera Capital predicts the cryptocurrency will hit $ 115,000 per token before the end of summer 2021.
Pantera Capital’s predictions are no reason to sneeze. CEO Morehead has been a strong force on Wall Street for years. He founded the company in 2003, but before that as head of macro trading Tiger management.
Pantera Capital uses a stock-to-flow model to predict the price of Bitcoin. This results in studying the scarcity and demand for an asset to determine its potential future value. In the case of Bitcoin, this can be tracked thanks to its halving, which occurs roughly every four years, reports Fintech Zoom.
The price of Bitcoin has continued to rise over the past few months. Crypto investors have increased as more and more people turn to digital assets in times of economic turmoil. This was compounded by the novel coronavirus pandemic.
It’s also worth noting that the price of Bitcoin is increasing as more and more services accept the cryptocurrency for payments. Cash app announced today that users can now send BTC to other cash tags for free through their app. Plus, $ 1 million worth of virtual currency will be issued to celebrate.
Another prime example of a large company adopting Bitcoin is Tesla (NASDAQ:(TSLA)). The company invested $ 1.5 billion in the cryptocurrency early last month. At the same time, it announced plans to accept BTC as a means of payment. Elon Musk, CEO of Tesla, is a fan of cryptos, including the meme digital asset Dogecoin (CCC:dog).
BTC rose 3.5% on Wednesday afternoon and 97.7% year to date.
Bitcoin isn’t the only cryptocurrency on investors’ minds today.
Other cryptocurrencies that are on the rise on Wednesday are: Cardano (CCC:ADA-USD). Crypto traders have been particularly interested in the stock as Coinbase Pro prepares to bring it public tomorrow. Investors can find out more about this at this link.
More about Bitcoin and other cryptocurrencies:
At the time of publication, William White held positions (neither directly nor indirectly) in any of the securities referred to in this article.
The Post Bitcoin Price Prediction 2021: Can BTC Really Hit $ 115,000 By The End Of Summer? first appeared on InvestorPlace.
The views and opinions expressed are those of the author and do not necessarily reflect those of Nasdaq, Inc.
Dogecoin Stock – Bitcoin Price Prediction 2021: Can BTC Really Reach $ 115,000 By The End Of Summer?
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