The Future Coin

Bitcoin

$49,372.02

BTC 0.98%

Ethereum

$1,609.20

ETH 1.98%

XRP

$0.47

XRP -1.30%

Litecoin

$179.52

LTC 1.09%

EOS

$3.87

EOS 0.52%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Opinion

Bitcoin halving will push BTC price to $500,000

by The Future Coin
May 5, 2020
in Opinion
0
Bitcoin halving will push BTC price to $500,000
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

  • The CEO of Pantera Capital, Dan Morehead, predicts a Bitcoin price of USD 500,000 by August 2021 due to the upcoming halving.
  • Bitcoin has recently performed significantly better than many assets, such as gold or the S&P 500, America’s most important stock index.

After the Bitcoin price had risen to $9,100 a few hours ago, the price fell to $8,840 within an hour. The supposed new attempt to reach $10,000 was thus slowed down for the time being. According to several experts, Bitcoin must close above the $9,000 mark in the daily chart in order to continue to rise in the long term. However, industry giants such as Dan Morehead are not deterred from forecasting new all-time highs for Bitcoin.

Bitcoin will rise to $500,000 by August 2021

Dan Morehead sees Bitcoin halving as a great opportunity, which could catapult Bitcoin to a new all-time high. Morehead explains that in principle all parameters remain the same, only that the Mining Reward will be halved and therefore the price will increase in his opinion. As he explains, historically, Bitcoin bottomed out 459 days before halving and then exploded in price:

Bitcoin has historically bottomed 459 days prior to the halving, climbed leading into it, and then exploded to the upside afterwards. The post-halving rallies have averaged 446 days – from the halving to the peak of that bull cycle. In this cycle, the market did in fact trough 514 days before the halving.

If history repeats itself and Bitcoin shows a similar development, similar to the previous halvings in 2016 and 2012, the Bitcoin price could rise to more than $500,000 by August 2021. Morehead describes that there is still no guarantee for this development and that the odds are still 50:50 as there are too many factors that influence the price:

IF history were to repeat itself, bitcoin would peak in August 2021 – at $533,431. Obviously that’s a big IF. That price sounds ludicrous… Just sayin’ that there’s more than a 50-50 chance bitcoin goes up – and goes up big.

Morehead states that compared to other assets such as real estate or oil, Bitcoin has shown the strongest performance since the beginning of the year to date with an increase of more than 16% and this trend will continue:

Bitcoin was born in a financial crisis. It will come of age in this one.

#Bitcoin overtakes Gold Year-To-Date.

Bitcoin was born in a financial crisis. It will come of age in this one. pic.twitter.com/Lw2Sn9RtR1

— Dan Morehead (@dan_pantera) April 29, 2020

Bitcoin and Gold will survive crisis

According to a report by Bloomberg, Bitcoin as well as the entire cryptocurrency market has matured considerably and could soon take on the status of “digital gold”. Bitcoin, as well as physical gold, will benefit most in an environment of infinite money printing:

Bitcoin and gold also stand to be primary beneficiaries of the unprecedented monetary stimulus that’s accompanied by a mean-reverting stock market. The macroeconomic effects of the coronavirus accelerate Bitcoin’s process of gaining value relative to other cryptos.


Last updated on May 5, 2020



Source link

EDITOR’S CHOICE

Crypto Influencers: Top 5 People Making Waves in the Market This Week - Feb 17-24

SEC Action Could Have Rippling Effects on Future of Cryptocurrency | Snell & Wilmer

Planning to Short Bitcoin? Better Check China’s ‘Tether Premium’ First - Yahoo Finance

Here’s How To Avoid Getting Burned in the Altcoin Market, According to Coin Bureau

Surf the blockchain wave with confidence |

Biden’s Supply Chain Executive Order Should Remind All Business Leaders To Be Prepared For A Crisis

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 48,961.00
ethereum
Ethereum (ETH) $ 1,596.16
binance-coin
Binance Coin (BNB) $ 247.54
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 1.03
polkadot
Polkadot (DOT) $ 32.74
xrp
XRP (XRP) $ 0.463077
litecoin
Litecoin (LTC) $ 177.63
chainlink
Chainlink (LINK) $ 27.53
bitcoin-cash
Bitcoin Cash (BCH) $ 520.18
stellar
Stellar (XLM) $ 0.402415
usd-coin
USD Coin (USDC) $ 1.01
uniswap
Uniswap (UNI) $ 24.67
dogecoin
Dogecoin (DOGE) $ 0.056387
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 48,809.00
okb
OKB (OKB) $ 17.96
nem
NEM (XEM) $ 0.512021
cosmos
Cosmos (ATOM) $ 19.32
solana
Solana (SOL) $ 17.14
aave
Aave (AAVE) $ 358.58
crypto-com-chain
Crypto.com Coin (CRO) $ 0.158794
eos
EOS (EOS) $ 3.85
monero
Monero (XMR) $ 204.47
bitcoin-sv
Bitcoin SV (BSV) $ 193.96
huobi-token
Huobi Token (HT) $ 19.05
tron
TRON (TRX) $ 0.046999
theta-token
Theta Network (THETA) $ 3.26
iota
IOTA (MIOTA) $ 1.16
neo
NEO (NEO) $ 39.77
terra-luna
Terra (LUNA) $ 6.53
havven
Synthetix Network Token (SNX) $ 18.57
vechain
VeChain (VET) $ 0.041915
tezos
Tezos (XTZ) $ 3.47
ftx-token
FTX Token (FTT) $ 29.37
dai
Dai (DAI) $ 1.00
dash
Dash (DASH) $ 232.33
binance-usd
Binance USD (BUSD) $ 1.01
the-graph
The Graph (GRT) $ 1.84
cdai
cDAI (CDAI) $ 0.021252
avalanche-2
Avalanche (AVAX) $ 28.28
kusama
Kusama (KSM) $ 235.17
compound-ether
cETH (CETH) $ 31.92
maker
Maker (MKR) $ 2,199.76
filecoin
Filecoin (FIL) $ 36.23
celsius-degree-token
Celsius Network (CEL) $ 5.06
elrond-erd-2
Elrond (EGLD) $ 112.46
leo-token
LEO Token (LEO) $ 1.92
compound-governance-token
Compound (COMP) $ 424.16
sushi
Sushi (SUSHI) $ 14.20
decred
Decred (DCR) $ 141.80