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Author Topic: [2018-04-14] CHFP Capital ; BTC Will ‘Highly Likely’ Break $20,000 This Year  (Read 18 times)
DeadCoin
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April 14, 2018, 07:00:04 PM
 #1

Crypto Hedge Fund Pantera Capital: BTC Will ‘Highly Likely’ Break $20,000 This Year

Pantera Capital Management, a hedge fund with a focus on cryptocurrencies, said in their April newsletter that Bitcoin’s (BTC) price of $6,500 was probably the low for the cryptocurrency, and that it was “highly likely” BTC’s price will reach above $20,000 this year, the Wall Street Journal (WSJ) reported Friday, April 13.

In December of last year, CEO of Pantera Capital Dan Morehead predicted that Bitcoin’s price could drop 50 percent before it reached new highs, a prediction whose first part has come true, as BTC dropped below $7000 in February - a 65 percent drop.

BTC’s price has since risen - most notably by $1,000 in 30 minutes on April 12 - currently trading at around $7,916 and down about three percent over a 24 hour period to press time.

In the April newsletter, Morehead wrote that he “rarely [has] such a strong conviction on timing. A wall of institutional money will drive the markets much higher.” Earlier this week, several Wall Street players made steps into cryptocurrency as the Rockefeller’s venture capital arm Venrock partnered with crypto investment firm Coinfund.

https://cointelegraph.com/news/crypto-hedge-fund-pantera-capital-btc-will-highly-likely-break-20000-this-year

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April 15, 2018, 04:42:14 PM
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We will see, but if BTC breaks $10k, I will be on board with this prediction as well.
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April 15, 2018, 05:03:07 PM
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We will see, but if BTC breaks $10k, I will be on board with this prediction as well.

It's not enough to just break through the $10,000 level. I strongly believe that we need a major event causing the market to go nuts over, in speculation terms. On top of that, I am not yet convinced that the crypto ecosystem is ready for that level of growth. Exchanges have time to get things done in current calmer market, but they probably need another month or 6 to actually get everything done. If we in that time experience another insane user boost, which will definitely happen once the price is comfortably moving up again, then it's just a matter of time before exchanges will go through the same problems. It's impossible to have things change for the better in just a few months time....
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