Dan Morehead, CEO of Pantera Capital, predicts that the next bull market cycle for cryptocurrencies will peak in 2025. In the Bankless podcast, he elaborated on the basis of this prediction: Bitcoin follows a halving cycle that occurs every four years, where miner rewards are halved, leading to a decrease in supply. Historically, Bitcoin's price has surged significantly before and after these events. The last halving occurred in April 2024, and Morehead predicts that Bitcoin will reach its cycle peak in August 2025 based on historical trends. He emphasized that despite the current market conditions being relatively mild, the upcoming upward trend is still something to look forward to. Morehead stated, "The outlook for 2025 is very optimistic, not only because of the halving event but also because political and macroeconomic factors align with the development of cryptocurrencies." He predicts Bitcoin will peak at a price of $117,000, which is 18% higher than the current price. He further noted that historical data shows the effects of the halving event typically begin to show around 400 days in advance, with the peak occurring approximately 480 days later. Reflecting on 2022, when Bitcoin was trading at $17,000, Pantera Capital accurately predicted that it would reach $28,000 before the halving event. Now, Morehead is confident in his prediction that Bitcoin will reach $117,000 in August 2025.

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