Pantera Capital illustrated that the bitcoin price could reach $148,000 after the halving event next year.
Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Crypto venture fund Pantera Capital illustrated that bitcoin's price could surge to $148,000 after the halving event scheduled for next year.the upcoming halving could see the bitcoin price rise to $35,000 before the event and $148,000 after.
The stock-to-flow ratio of an asset is a measure of its existing supply relative to the new supply entering the market. A higher stock-to-flow ratio indicates a scarcity of an asset, which can potentially increase its price. The current price of bitcoin is around $26,500.events have historically been associated with increased bitcoin prices due to its impact on the stock-to-flow ratio.
"The 2020 halving reduced the supply of new bitcoins by 43% relative to the previous halving. It had a 23% as big an impact on price," Pantera Capital said."The next halving is expected to occur on April 20, 2024. Since most bitcoins are now in circulation, each halving will be almost exactly half as big a reduction in new supply. If history were to repeat itself, the next halving would see bitcoin rising to $35k before the halving and $148k after," it added.
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