According to Pantera Capital CEO Dan Morehead, the price of bitcoin could reach $ 115,000 in August.
A year ago, we predicted that Bitcoin would hit $ 62,968 this week. It worked. This Bitcoin rally is EXACTLY similar to previous halvings. By August, most likely, we will reach 115 thousand dollars.
This is getting ridiculous. A year ago we predicted Bitcoin hitting $62,968 this week. It just did.
This Bitcoin rally is EXACTLY like previous halvings. Likely to reach $115k by August.
— Dan Morehead (@dan_pantera) April 13, 2021
In this case, Morehead refers to a letter to investors that he sent out last April, which analyzes the stock-to-flow ratio and hypothesizes that the halving cycle in May 2020 will push the price of bitcoin up to August 2021 to the level of $ 115,212.
At the same time, he noted that the forecast for April 15 was made in calculating the price at around $ 62,968. As we can see, it was exceeded by almost $ 2,000.
It is worth noting that other predictions in his table turned out to be incorrect, since in mid-December the price of bitcoin was well below $ 32,000, and in mid-March it was well above $ 52,000. However, Morehead noticed how the numbers should be shifted forward or backward by a few weeks.
Dogecoin skyrocketed to all-time high
Dogecoin (DOGE) has set a new high above $ 0.14. The digital asset has grown more than 90% in 24 hours, according to CoinGecko .
Binance DOGE / USDT chart by TradingView.
The project capitalization has exceeded $ 17 billion, according to CoinMarketCap . The digital asset ranked tenth in terms of total market value.
American TV presenter and restaurateur Guy Fier supported Dogecoin on Twitter. 3.4 million people have subscribed to it.
— Guy Fieri (@GuyFieri) April 13, 2021
Elon Musk reacted with an animation of a laughing dog.
– Elon Musk (@elonmusk) April 14, 2021
On April 14, the price of bitcoin crossed the $ 64,000 mark. The second largest cryptocurrency in terms of capitalization renewed its historical maximum at a level above $ 2350.
In March, Elon Musk wrote that he was buying a Shiba Inu. The businessman did not specify what was at stake: a puppy of this breed or the Dogecoin cryptocurrency with the image of a dog-meme.
In April 2019, the head of Tesla named Dogecoin as his favorite coin. In July 2020 and February 2021, Musk pumped the token price by 17% and 50%, respectively.
Dogecoin was previously supported by American rapper Snoop Dogg, musician and bass player of the rock band KISS Gene Simmons and porn star Mia Khalifa.