Bitcoin (BTC) at $115,000 in August 2021: Does Pantera Capital’s prediction hold up?

An analysis of the investment fund Pantera Capital predicts a Bitcoin (BTC) price of $115,000 by August 2021.

Zoom on this prediction and on the future movements of BTC.

Bitcoin (BTC) at $115,000 by August 2021: Does Pantera Capital’s prediction hold up?

The Long-Term Impact of Halving on the Price of Bitcoin (BTC)

Pantera Capital’s analysis compares the current bull run to the one experienced by the cryptopharmaceutical industry in 2017. According to the firm, the consequences of the halving of Bitcoin Loophole are being felt more than a year after the fact, with a consequent increase :

„In general, the market reaches a peak 1.2 years after [a halving]. »

Pantera Capital explains that for the time being, the price of Bitcoin (BTC) has followed the progression announced last April, according to the „stock-to-flow“ model:

Bitcoin BTC progress 115,000 dollars Pantera Capital

This popular model attempts to predict the impact of the reduction in Bitcoin supply, which occurs after each halving. It is based on previous halving events, which show a trend:

Bitcoin BTC halving price price Pantera Capital

Investments in crypto-currencies are risky by nature (read more)
Will Bitcoin (BTC) receive the $115,000 next August?

This is the hypothesis of Pantera Capital, which explains that this threshold is no longer as fanciful as it once was:

„This price may seem absurd. But $5,000 was also absurd when we wrote our first price prediction, and Bitcoin was only worth $65. »

As noted in the report, and in several other analyses, the current bull run is also different from the last one, in particular because of the concentration of the market on a few cryptocurrencies. In 2017, Altcoin was well represented, but in 2020 and 2021, Bitcoin represents by far the largest share :

Bitcoin altcoins distribution Pantera Capital

According to Pantera Capital, two functional and durable blockbusters have captured 86% of the market cap for cryptosystems: Bitcoin and Ether (ETH). Since 2010, they have also often been the top-performing currencies in a single year, and have only been overtaken by the USD and JPY in two years, in 2018 and 2014.

A progression that has only just begun?

Pantera Capital’s analysis is therefore particularly „bullish“. However, the firm is not the only one to be optimistic about the price of Bitcoin. Glassnode published a long analysis over the weekend, which explains :

„For the rest of this year, we are very „bullish“. The tide always goes out before the tsunami arrives. »

Specifically, Glassnode sees Bitcoin testing the $50,000 threshold within the next two weeks. This morning, the cryptomony is traded for 36,100 dollars, with a capitalization of 673 billion dollars.