Pantera Capital Predicts Bitcoin to Hit $35k Before 2024 Halving and Surge to $148k Afterward

In a recent publication by Pantera Capital, the firm delved into the concept of a “positive black swan” event in the blockchain industry. The term “black swan” traditionally refers to unpredictable events with potentially severe consequences. However, in this context, Pantera Capital highlights the positive implications of such events for the blockchain sector.

Key takeaways include:

Historical Bitcoin Price Predictions

Pantera Capital references historical trends to make a significant prediction about Bitcoin’s price trajectory. The firm states, “If history were to repeat itself, the next halving would see bitcoin rising to $35k before the halving and $148k after.”

Blockchain’s Rapid Growth

The blockchain sector has witnessed exponential growth over the past few years. Pantera Capital cites that the number of blockchain users has doubled every twelve months. This rapid adoption rate underscores the increasing acceptance and integration of blockchain technologies in various industries.

Bitcoin’s Resilience

In the face of regulatory hurdles and market shifts, Bitcoin has showcased significant stability. Pantera Capital points out that, over the last 90 days, Bitcoin’s price fluctuations have been steadier than 87% of stocks in the S&P 500.

DeFi’s Potential

Decentralized finance (DeFi) platforms have garnered significant attention and investment. Pantera Capital emphasizes the potential of DeFi to revolutionize traditional financial systems by offering decentralized alternatives.

Blockchain’s Positive Impact

The article suggests that blockchain technology can play a pivotal role in addressing global challenges. From improving supply chain transparency to fostering financial inclusion, blockchain solutions have the potential to drive positive change on a global scale.

Future Outlook

Pantera Capital remains optimistic about the future of blockchain and its transformative potential. The firm believes that as the technology matures, its impact will be even more profound, touching various facets of our daily lives.

In conclusion, while black swan events are typically associated with negative outcomes, Pantera Capital presents a compelling case for the positive impact of such events in the blockchain domain. The firm’s insights underscore the transformative potential of blockchain technology and its role in shaping the future of various industries.

About Pantera Capital

Established by Dan Morehead, the former Head of Macro Trading and CFO at Tiger Management, Pantera Capital stands as a prominent figure in the investment arena. The firm’s adeptness in global macro strategies has seen it oversee more than $1 billion in institutional allocations. In a pioneering move in 2013, Pantera introduced the United States to its first blockchain hedge and venture funds. The firm observed a swift rise in the adoption of digital assets globally, a trend accentuated during the COVID-19 pandemic, serving as a countermeasure against unparalleled fiscal and monetary expansion. Additionally, a noteworthy transition in the fiscal domain is evident as major public corporations have begun incorporating Bitcoin into their financial reserves.

Pantera Capital’s investments span a myriad of blockchain initiatives, encompassing but not restricted to Zcash, Xapo, Wintermute, Ripple, Polkadot, Near, Filecoin, Coinbase, Circle, BitGo, and Bitstamp.

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From $5,000 to $120,000: Standard Chartered’s Controversial Bitcoin Price Predictions

According to Retuers, Standard Chartered predicts Bitcoin’s price to reach $120,000 by 2024, reaching $50,000 this year and $120,000 by 2024. This upward trend aligns with the recent increase in Bitcoin’s value, encouraging miners to hold onto the digital currency.

Standard Chartered predicted earlier this year that the price of Bitcoin would reach $100,000 by 2024, and that the challenging “crypto winter” had ended.

However, it’s crucial to note that Standard Chartered’s past Bitcoin price predictions haven’t always hit the mark.

In September 2021, the bank’s cryptocurrency research unit predicted that Bitcoin would reach $100,000 by early 2022, along with a significant Ether price spike. However, Bitcoin experienced a dramatic drop of more than 75% in 2022.

In December 2022, they issued a warning of a potential plunge to $5,000. Eric Robertsen, global head of research at Standard Chartered Bank, explained, “Yields plunge along with technology shares, and while the Bitcoin sell-off decelerates, the damage has been done. More and more crypto firms and exchanges find themselves with insufficient liquidity, leading to further bankruptcies and a collapse in investor confidence in digital assets.” However, Bitcoin’s price action since then showed that the lowest price since its record high in November 2021 was $15,476 on November 11, 2022, defying the bank’s prediction.

Despite these past missteps, the current market sentiment aligns with Standard Chartered’s optimistic view. On July 6, Matrixport reported that Bitcoin hit a one-year high on June 22, 2023, signalling the end of bear markets and the onset of a new bull run. Drawing from past trends in 2013, 2017, and 2021, Matrixport predicts a 100% chance of another massive Bitcoin bull market by 2024, with a price target of $125,000.


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Russia Begins CBDC Settlement Mechanism While Sanctions Continue


There are continuous sanctions against Russia as a result of its invasion of Ukraine; yet, reports indicate that Russia’s central bank is about to begin building a cross-border settlement system that would use a central bank digital currency (CBDC).

According to a report that was published on January 9 by a local media outlet called Kommersant, the plans to move forward with Russia’s digital ruble are expected to come in the first quarter of 2023. Russia’s central bank will study two possible cross-border settlement models before moving forward with the plans.

In the initial version of the plan that has been suggested, different nations would integrate their CBDC systems by entering into separate bilateral agreements with Russia.

The second, more sophisticated approach suggests establishing a single hub-like platform on which Russia and other nations may engage with one another, sharing common protocols and standards to make it easier for linked countries to make payments to one another.

The other possibility was more developed, and he mulled over the possibility of implementing an initial two-way system, with China serving as the most probable partner due to the country’s advanced political and technical preparedness.

According to reports from the month of September, Russia’s plans to utilize its digital currency for settlements with China are reportedly expected to take place sometime in 2023.

Still, there are many who are of the opinion that Russia’s CBDC play will not be hampered by technological limitations, but rather by political ones.

Alexey Voylukov, the vice president of the Association of Banks of Russia, stated that the introduction of a digital ruble will not change or improve the global political situation of Russia, and that trials for the CBDC platform can only be undertaken with countries that are friendly with the Russian government and are technologically ready. He also stated that the trials for the CBDC platform can only be undertaken with countries that are friendly with the Russian government.

However, the Bank of Russia had said that it intended to launch its digital currency by the year 2024, with all banks and credit institutions being linked to the network that is maintained by the CBDC.

Since Russia began a full-scale invasion of Ukraine in late February 2022, which marked an escalation in the conflict between Russia and Ukraine, Russia has been subjected to an increasing number of economic and commercial sanctions.

Since then, it has experimented with and mulled over methods to sidestep the sanctions, such as the country’s central bank mulling over the possibility of using cryptocurrencies in the country just for the purpose of supporting international commerce.

In September, the Bank of Russia and the Ministry of Finance reached a consensus on a law that would enable Russian citizens to transmit payments across international borders using cryptocurrencies.


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