Bitcoin Prices Could Triple: Crypto Bull
Oct 23, 2021
Even as bitcoin prices (BTC-USD) have surged to new highs this week, veteran crypto investor Dan Morehead has maintained his positive perspective.
On Yahoo Finance Live, Pantera Capital's founder and CEO remarked, "I can see Bitcoin doubling or triple each in the next several years." Based on his comprehensive study, Morehead told Yahoo Finance few months ago that he believed bitcoin's final value is $700,000.
Morehead started his first cryptocurrency fund in 2013. The business now manages $6 billion in assets, which includes venture capital and early-stage token investments. He closed on his latest crypto fund, which would invest in liquid coins and venture capital, earlier this month.
To put it another way, Bitcoin is still a long way from Morehead's terminal value projection today. However, this week's activity suggests that bitcoin prices may continue to rise as more ordinary investors and institutions enter the market.
The debut of two new Bitcoin futures ETFs, the Proshares Bitcoin Strategy ETF and the Valkyrie Bitcoin Strategy ETF, sent bitcoin prices to new highs this week. The benchmark cryptocurrency touched an all-time high of $66,909 on Thursday, but dropped to slightly over $61,000 on Friday.
Other cryptos, like ethereum, have had bullish swings this week, climbing above $4,300 (a new high) at one point.
Webull CEO Anthony Denier told Yahoo Finance that the platform's live crypto trading activity has been brisk this week.
"I could see a billion people using bitcoin in ten years and bitcoin prices in the hundreds of thousands," says Morehead.
Subscribe Our Newsletter
He did not provide a specific debut schedule, instead saying that it would start shortly after the Spring Festival. This season finishes on the 15th day of the Lunar New Year, which occurs on February 15, according to Chinese traditions.
Banks and Finance
Flavio Doms
Start Receiving Bitcoin Rewards with GoMiningSkip the hardware, cut the costs—GoMining lets you rent digital hashrate, play Miner Wars, stake GOMINING tokens and earn real Bitcoin straight from your phone.
Crypto
Alexander
What Was The DAO? The Story of Infamous HackThe DAO was a pioneering project built on the Ethereum blockchain. In 2016, it suffered a major hack, resulting in the loss of millions of dollars worth of ETH.
Crypto Exchange Business