On July 23, the founder and CEO of Pantera Capital, Dan Morehead, said that Bitcoin’s course has great potential and can grow to $42,000 by the end of 2019. He told about this during an interview for the Unchained agency.
Bitcoin rate: estimated growth
According to Dan Morehead, the founder and CEO of Pantera Capital, the price of Bitcoin is still at a record high this year. During the interview, Morehead said that Bitcoin’s price chart should be considered logarithmically. With this consideration, the trend is in an annual increase of 235%. Based on this, by the end of this year, Bitcoin could cost $42,000.
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"The price chart for Bitcoins is logarithmic, and its tendency is to increase by 235% the cumulative annual rate. This means that at the end of 2019 the cost of the BTC will be 42 000 US dollars. I think this is a good example of the fact that at the end of the year we will achieve it!" – Dan Morehead, Pantera Capital, for Unchained.
It is important to note that Morehead admits that this sounds insane. But he mentions how, once the price of one Bitcoin did not exceed $100. Even then, Morehead said that digital gold could reach $5,000, but many called it "crazy."
Director of Pantera Capital: by the end of the year, the cost of Bitcoin will be $42,000. Recall that today the first cryptocurrency collapsed again in price, and the rate fell to four digits.
Editor: Godfrid Brower