Dan Morehead, CEO of Pantera Capital, predicts that Bitcoin could reach an all-time high of $117,000 by August 2025, which would mark the asset’s peak price for the 2024/2025 bull cycle.
Morehead made this prediction in a recent interview on the Bankless Podcast. During the interview, Morehead emphasized the alignment of historical Bitcoin prices with the quadrennial halving event.
BTC performance before and after the Bitcoin halving
For comparison, Bitcoin’s price rose tremendously during the previous halving, with the latest halving expected to follow a similar trend. The last halving occurred in April 2024, which saw miners’ rewards drop from 6.25 BTC to 3,125 BTC.
Citing historical data, the Pantera CEO claims that the impact of the halving on Bitcoin price begins 400 days before the event. According to Morehead, the crypto market reaches the peak of a bull cycle about 480 days after the halving.
Bitcoin is set to reach $117,000
Based on Bitcoin’s historical price movements, Morehead predicted that the leading cryptocurrency could rise to a high of $117,000. He assumes that Bitcoin will reach the target by August 2025, exactly eight months.
In addition to the expected rally that accompanies Bitcoin’s halving, Morehead believes that factors such as macroeconomic and favorable political developments will pave the way for Bitcoin’s potential rise to $117,000. The target of $117,000 represents a 22.53% increase from the current price of $95,484.
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