Bitcoin To Hit $35k By April, $148K in 2025, Top Crypto Hedge Fund Says

Updated: 24 August 2023

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Bitcoin’s halving in April will fuel a surge in Bitcoin’s price to $148,000 in 2025, says one of the world’s biggest crypto hedge funds.

“Bitcoin has historically bottomed 477 days prior to the halving, climbed leading into it, and then exploded to the upside afterward,” said Pantera Capital in an Aug. 22 note.

Following this historical trend, Pantera predicts that Bitcoin will trade at $35,500 by the time the halving takes place next year and surge again after that to reach a new all-time high of $148,0000 in 2025.

The Bitcoin Halving is an event that takes place every 4 years, when the reward given to Bitcoin miners as payment for successfully solving and committing a block is reduced by half. The next halving is expected to occur on April 20 next year.

The mechanism was put in place by Satoshi Nakamoto, the creator of Bitcoin, to control the distribution of the assets in the market and create scarcity to help the token maintain and even increase in value.

Pantera: The next halving is expected to occur on April 20, 2024. If history were to repeat itself, the next halving would see bitcoin rising to $35k before the halving and $148k after.

The XRP ruling and endorsements by BlackRock et al. – in addition to the Bitcoin Halving…

— Wu Blockchain (@WuBlockchain) August 24, 2023

Bitcoin Bull Pantera Sees Strong Rebound

Bitcoin’s resurgence will come after its longest-ever period of negative year-over-year returns, Pantera founder Dan Morehead. He says that trend can’t continue.

“We’ve seen enough – there’s just so long markets can be down,” he said.

#Bitcoin recently experienced the longest period of negative year-over-year returns in its history, lasting 15 months.

The longest period prior was just under a year.

Our view is that we’ve seen enough – there’s just so long markets can be down.

More: https://t.co/REfxkTp9CJ pic.twitter.com/UCEMMcznAM

— Dan Morehead (@dan_pantera) August 23, 2023

As of June 12, there had been 15 months in which the price of bitcoin had decreased year over year, beginning on February 8, 2022, Morehead said. The longest period before that had been less than a year, from November 14, 2014 to October 31, 2015, he said.

Yet Bitcoin is up by more than 20% from a year earlier and has risen 60% this year. Morehead believes that the recent XRP ruling, as well as applications from asset managers including Blackrock and Fidelity for spot Bitcoin ETFs, are additional factors that are helping to usher in a new bull market for Bitcoin and other crypto assets.

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