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

blockchain.news:

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