Giant Company Announces Bitcoin’s History of $ 150,000 and its Prediction for 3 Altcoins!
Dan Morehead, CEO of Pantera Capital, a crypto-focused venture firm, and his company announced their latest forecast for the Bitcoin and crypto market.
Pantera Capital CEO: There will be a huge flow of money to Bitcoin
Pantera Capital CEO Dan Morehead said he expects a steady flow of funds that will increase the price of BTC as investors turn to assets with fixed supply . Dan Morehead adds:
THIS TSUNAMI MONEY WILL HAVE A BIG IMPACT ON MANY THINGS. IN OUR MARKETS, IT SEEMS INEVITABLE THAT FIXED AMOUNT OF THINGS LIKE BITCOIN WILL INCREASE THE PRICE. IF THERE ARE TRILLIONS MORE DOLLARS OF PAPER, THE LAW OF SUPPLY AND DEMAND MEANS MUCH MORE PAPER MONEY TO BUY THE SAME AMOUNT OF CRYPTOCURRENCIES.
Joey Krug: These 3 altcoins showed better performance than Bitcoin
Pantera’s analysis shows that Bitcoin is targeting $ 150,000 by August of next year. As for the Altcoin market, Pantera chief investment officer Joey Krug is a series of cryptos, including 88% jump in Ethereum (ETH), 97% increase in Augur and 98% increase in 0x (ZRX). He pointed out that the money outperformed the 34% rally of BTC. Pantera expects the upward trend in these altcoins to continue in a new bull cycle. Pantera officials add the following to their statements:
DURING THE BULL MARKET, WE EXPECT ASSETS OTHER THAN BITCOIN , ALTCOINS, TO PERFORM BETTER.
Is an altcoin boom approaching?
Historically, altcoins have outperformed BTC in the bull cycle. For example, from January 1, 2016 to December 31, 2016, Bitcoin’s market share fell from 91% to 87%. But at the end of 2017, it slipped to 38%. Currently, Bitcoin ‘market domination index sits at 65%. Analysts expect the performance gap between altcoins and Bitcoin to expand over the next year.
According to Joey Krug, it is unlikely that there will be another boom for initial money offers and cryptocurrencies will have to prove their benefits this time around. According to Joey Krug, the firm’s hedge fund is currently performing about 20% better than BTC.