Bitcoin Isn't Over Until It's Over: CEO Said 117 Thousand for the Bull's Peak, Gave a Date!
Dan Morehead explained his reasons for predicting that Bitcoin will reach $117,000 in 2025.
Dan Morehead, CEO of crypto-asset-focused investment firm Pantera Capital, said that the crypto market's next bull cycle peak will occur in 2025.
In an interview with the Bankless podcast, Morehead stated that Bitcoin's price movements are based on the four-year halving cycle. Halving is known as a process in which Bitcoin miners' block rewards are halved, resulting in a squeeze in supply.
In the past, the Bitcoin price has generally tended to rise before and after halving events. The last halving event took place in April of this year.
According to his predictions based on historical data, Morehead predicted that Bitcoin will reach the peak of its current cycle in seven months:
August 2025 seems to be the peak. This cycle may have a lower amplitude compared to previous halving cycles, but it is still quite effective. Not only the halving, but also political and macroeconomic developments are creating a very positive environment for crypto. It is almost impossible not to be optimistic about 2025.
Morehead set the price target for Bitcoin’s cycle peak at $117,000, indicating an increase of over 18% from its current value:
Our data shows that the halving effect begins approximately 400 days before the actual halving date, with the peak coming 480 days later. This cycle has been the same every time. Two years ago, when Bitcoin was at $17,000, we predicted that it would reach $28,000 during the halving, and then $117,000 480 days later, next August.
