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-yearWhats your opinion seeing last 5 months growth trend including December 2017's growth?
