“Bitcoin will reach $ 42,000 by the end of the year”

According to the CEO of Pantera Capital investment company Dan Morehead, by the end of the year the rate of the first cryptocurrency could reach $ 42,000.

Speaking in a podcast
Unchained Morehead said that his company adheres to the opinions of analysts who talk about the growth of Bitcoin, based on trend lines. He also noted that the price of the first cryptocurrency may well exceed the mark of $ 350,000 by 2021.

“I’m talking about $ 42,000 by the end of 2019 and it sounds crazy, but, in fact, we have almost gone half to this mark. It is right on the trend line and, I think, great as a goal for the end of the year. And if we extrapolate the data for the following years, next year we will see $ 122,000 for bitcoin, and in 2021 – $ 356,000, ”said Pantera Capital.

We note that currently the first cryptocurrency is trading at around $ 9,700, and the bitcoin rate has dropped by 30% compared to recent peaks. But, according to Morehead, this rollback does not mean anything to Bitcoin. People quickly get used to big numbers in the course of Bitcoin.

“Yes, our predictions sound crazy. But when it cost $ 100, we predicted that Bitcoin would cost $ 5,000 and now, looking back, people see that we were right. And our current forecasts will come true in 2 or 3 years, ”Morehead emphasized.

Note that in mid-July, the cryptocurrency enthusiast John McAfee spoke again
in support of Bitcoin and said that he still believes in the achievement of the first cryptocurrency of $ 1 million by the end of 2020.