Pantera Capital CEO Assumes BTC May Hit $200.000 by 2022

by in Cryptocurrency News

Pantera Capital CEO BTC

The CEO of California-based venture capital firm Pantera Capital, Dan Morehead assumes that the price of Bitcoin may break $200.000 by 2022. He shared the analysis on social media.

Morehead's view is based on the growing number of BTC adoption. In the published paper, he presented statistics that show the coin's price goes up by $200 every time there are million new users. This is true except for February 2016.

According to Morehead, if the pattern repeats, there is a high likelihood BTC will reach $200.000 by 2022.

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Pantera Capital's experts say the main factor boosting BTC adoption is smartphones. About 3.5 billion persons all around the world have one and Bitcoin's usage requires only a smartphone.

Referring to the coin's terminal value, the team mentioned it can cross $700.000..

DeFi and other projects built on Ethereum and Polkadot also were mentioned in the paper, which says the company is bullish on them.

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Recently Dan Morehead shared his prediction on Ether and DOT.