Crypto hedge fund Pantera: Bitcoin $42,000 possible in 2019

July 24, 2019 | Digital Assets

And based on calculations, it could even hit $356,000 by 2021!

Dan Morehead, founder and CEO of crypto-focused hedge fund Pantera Capital, is not afraid to make mind-numbing projections for bitcoin. He’s set the bar this year at “Bitcoin $42000.”

But the crypto perma-bull has a basis.

Why bitcoin $42000 is possible

Speaking on a podcast, Morehead said the digital currency will likely scale new highs this year itself, even “Bitcoin $42000.”

His logic is the logarithmic trend of a 235% CAGR in the bitcoin price. Extrapolating current prices by that growth rate gives a price of $42,000 by the end of 2019.

“If you just extrapolate that (logarithmic) line out, for another year it’s $122,000 for BTC and in one more year $356,000,” he states.

You are welcome to take that prediction with a pinch of salt, but consider that when bitcoin plumbed bearish depths around $3,100 in December 2018, few would have expected it to more than triple in value to a high of $13,764 within six months.

Other factors beside logarithmic projects are important to consider. Recently, Greyscale founder Barry Silbert explained that GenX and Millennial investors are on the verge of inheriting $68 trillion from older generations.

Silbert argues that younger investors will shun traditional investments like gold and banks. Instead, he argues, they will pour capital into Bitcoin and other digital assets.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Alternative Investments/ESG: Brunel Allots £1.2B ($1.55B) Sustainable Mandate To Three Managers

The Brunel Pension Partnership has picked Ownership Capital, RBC Global Asset Management, and Nordea Asset Management to manage its new Sustainable Equities Fund of around £1.2 billion ($1.55 billion). Brunel…
FinTech: UK Development Lender CrowdProperty Notches £100M Of Loans
October 29, 2020     FinTech, News, Real Estate, Venture Capital

CrowdProperty, a leading crowdfunder/lender to the U.K. SME property sector, has lent over £100 million to development professionals. The funding had a beneficial impact on the UK economy because it…
Digital Assets: Ripple Invests In Money Tap, A Subsidiary Of SBI Holdings, Japan
October 29, 2020     Digital Assets, News

Ripple Labs, the San Francisco-based technology company that facilitates cross-border payments through the use of its blockchain solutions via RippleNet, will invest an undisclosed amount in Money Tap. Money Tap…
Artificial Intelligence: Apple Shells Out $50M For Video AI Startup Vilynx
October 29, 2020     Artificial Intelligence, News

Earlier this year, Apple (NASDAQ: AAPL) acquired Vilynx, a Barcelona-based startup that uses AI and computer vision technology to analyze a video’s visual, audio, and text elements. Reportedly, the iPhone…