Bitcoin Could Hit $115K by August, Pantera’s Morehead Writes
“Bitcoin is now ahead of our April 2020 forecast schedule – to hit $115K this summer,” wrote Dan Morehead, CEO and co-chief investment officer at Pantera Capital, a blockchain hedge fund, in an emailed newsletter.
The Pantera prediction is based on the stock-to-flow model – an analytical framework that values an asset’s price based on its annual issuance schedule. The model measures the scarcity of bitcoin (BTC), which is governed by the underlying network programming coded into the blockchain’s design when it was launched 12 years ago.
Under that plan, the number of new bitcoin created with each new data block every 10 minutes or so gets cut in half roughly every four years. In theory, according to the stock-to-flow model, the bitcoin price should rise as the issuance rate declines.
Morehead’s predictions carry weight partly because of his prior Wall Street experience: Before founding Pantera in 2003, he served as head of macro trading for the hedge fund Tiger Management, and before that he worked as a trader at Deutsche Bank and Goldman Sachs.
Recommended News
-
Breakthroughs and Applications of Intelligent AI Stores in the Security Surveillance Field
Introduction: Initiating a New Era of Intelligent Surveillance Globally, the security surveillance system is in a phase of rapid development and transformation. The introduction of Artificial Intelligence (AI) store application technology, especially in terms of enhancing intelligent recognition capabilities, is fundamentally changing the operation of traditional surveillance systems. Utilizing AI store application technology, security surveillance systems can not only monitor in real-time but also conduct in-depth analysis and predict potential risks, significantly improving the efficiency and accuracy of security management. This article will explore the application of AI store application…
-
Alaya: The Pioneer of Artificial Intelligence Data
In the 1940s, the third wave of technological revolution was set in motion by historical titans, propelling humanity onto the vast stage of a new era. Computer technology and space exploration ushered our species into uncharted territories. While the populace revealed the conveniences afforded by these groundbreaking innovations, they couldn’t escape the shadows of uncertainty, a fear that this newfound technology might displace them, leading them to unemployment. However, the passage of countless years has brought forth the Golden Age, providing resounding answers to the people’s concerns. In this period,…
-
StarSea Bit Exchange: Pioneering the Integration of AI in Cryptocurrency Trading
In the ever-evolving world of cryptocurrency, exchanges have become the beating heart of digital finance. They serve as the core mechanisms that facilitate buying, selling, and transferring digital assets. Among these innovative platforms, StarSea Bit Exchange stands out not just as a digital trading platform but as a forward-thinking technology powerhouse. By leveraging the transformative power of artificial intelligence (AI), StarSea Bit Exchange aims to revolutionize the cryptocurrency trading experience, setting a new benchmark for innovation and user experience. AI and Cryptocurrency: A Growing Symbiosis To understand how StarSea Bit…
-
Discover Musk, Metaverse, NFT and NPC from the historical trajectory
In 2004, one year after the launch of MindArk’s real-money economic game Entropia Universe, a user named Deathifier bought a treasure island on Planet Calypso for 265,000 PED (Project Entropia Dollars, equivalent to US$26,500). Treasure Island made history as the most expensive virtual item at the time, and Deathifier claimed to achieve a balance of payments within a year. He started filling the island with special thugs, taxing tourists and selling houses. Over time, Reddy MMORPG has launched more planets, some of which are operated and managed by other companies…
-
AMC global car chain with trillion market, is about to start the era ofcar chain network!
The automobile industry has gonethrough a hundred years of development, and the industrial patternhas gradually passed the mature stage, ushering in a new round ofchange. Vehicle manufacturing, parts manufacturing and otherperipheral services bring together a large number of top engineeringtechnology and huge industrial clusters, the development of theseindustries promote the global automotive industry innovation andupgrading, the formation of the backbone of the global manufacturingindustry, but also the focus of human engineering technology. Now that the global automotiveindustry is entering the era of new energy and intelligence,traditional driving models are about…
-
Alyx Chain Supports Multiple Programming Languages in its SDK
News update: Alyx Chain plans to support multiple popular programming languages such as C++, Java, Python, Go, Rust, Move and more for its Software Developer Kits (SDKs). Programming languages are the keystone of application development. Blockchains trying to attract a diverse group of developers to build in their ecosystem need to provide the necessary support and tools to cater to the different strengths of each developer. Some applications requiring the ability to define custom resource types are better built on Move, others can leverage on Go’s ability to spawn and…
-
AI Finance Academy Expanding Job Opportunities Through AI-Driven Financial Innovation
In a rapidly changing global economy, the intersection of artificial intelligence (AI) and finance is reshaping how industries operate, and the AI Finance Academy is at the forefront of this transformation. By focusing on expanding job opportunities through AI-driven insights, the Academy is helping financial professionals, students, and businesses prepare for a future where technology and finance are deeply intertwined. Through specialized programs, strategic partnerships, and a series of high-profile seminars, the AI Finance Academy is driving job creation and skill development in the financial industry, ensuring that the workforce…
-
Dubbed the Next Unicorn, zkTube Launches its Mainnet
zkTube is the most advanced scaling solution on Ethereum Layer 2. It has adopted ZK-Rollups that run computations off-chain and submit the validity proof to chain to provide low gas fees, higher transaction throughput for Ethereum, mainnet security, and extra privacy. It has gathered a lot of attention from over 80 countries since its launch in 2020. And the mainnet will be launched on 10th, September, 2021. zkTube Mining Mechanism is Launched zkTube team is continuously working and achieving several milestones. The zkTube mining mechanism has launched. zkTube is the only…
-
Starsea Bit Exchange’s Navigating U.S. Interest Rate Cuts Insights on Crypto Market Impacts
As the U.S. Federal Reserve signals a shift towards cutting interest rates, the entire financial landscape is expected to witness significant transformation. This shift isn’t just about traditional markets like stocks or bonds—the crypto market, with its inherent volatility and unique dynamics, stands to be affected in a variety of ways. One of the prominent players looking to capitalize on these changes is Starsea Bit Exchange. With its innovative approach to cryptocurrency trading and investment, Starsea Bit Exchange is well-positioned to navigate the economic landscape shaped by U.S. rate cuts….
-
Eagle Crest Asset Management is Shaping the Future of Investment under Ridel Bosco Castillo’s Leadership
Eagle Crest Asset Management, founded in 2019 by Ridel Bosco Castillo, has rapidly emerged as a key player in the global financial sector. The company’s dedication to long-term value creation, innovative investment strategies, and commitment to clients have earned it wide recognition and trust in a highly competitive market. At the core of Eagle Crest’s philosophy is a belief in integrity, innovation, and exceptional service. With a team of more than 30 seasoned investment professionals, each boasting over 30 years of experience, Eagle Crest offers a personalized approach to wealth…
