@exstasie. Agreed. I also thought it was reasonable of Pantera to give their price prediction enough time to be fulfilled, if it is to be so hehe.
Maybe this question should be raised. Is Pantera's prediction reasonable enough for you?
Topic: Pantera Capital: Bitcoin Price Will Reach $67,500 by End of 2019 - page 2. (Read 332 times)
At least some of these hedge fund guys are wising up: "By end of 2019" is a hell of a lot more reasonable than end of 2018!
We all know Bitcoin is bullish as hell, but that's on a long term timeframe (years). Bubbles require time to work through all the resistance/distribution from all the late buyers.
And I also find this market is far more mature now. It reminds me of the oil market. Still highly emotional and relatively volatile, but much slower and choppier than years ago. Patience is really crucial in trading this market (and really, all markets).
We all know Bitcoin is bullish as hell, but that's on a long term timeframe (years). Bubbles require time to work through all the resistance/distribution from all the late buyers.
And I also find this market is far more mature now. It reminds me of the oil market. Still highly emotional and relatively volatile, but much slower and choppier than years ago. Patience is really crucial in trading this market (and really, all markets).
Just because they've made healthy returns on their investment, doesn't mean that you should instantly believe what they say. Otherwise, you'd be taking Tim Draper's $250k by 2022 prediction very seriously.
Personally, I believe that a bull market could potentially emerge by the end of 2019 just like it did between 2015-2016. But is it going to hit $67k? I doubt it. The halving in 2020 is probably going to have a more bullish effect on the market compared to anything that goes on in 2019.
I think that if given until 2021, this could well be realised, since market sentiment is generally a lot more bullish around a year after the halving. However, I don't see prices recovering that fast and all of a sudden entering a phase of crazy returns, at least it has never happened before. I'd say that it's very unlikely.
Personally, I believe that a bull market could potentially emerge by the end of 2019 just like it did between 2015-2016. But is it going to hit $67k? I doubt it. The halving in 2020 is probably going to have a more bullish effect on the market compared to anything that goes on in 2019.
I think that if given until 2021, this could well be realised, since market sentiment is generally a lot more bullish around a year after the halving. However, I don't see prices recovering that fast and all of a sudden entering a phase of crazy returns, at least it has never happened before. I'd say that it's very unlikely.
Think about it this way,
IF they have a time-machine and went to Dec 31 2019 and saw that BTC is $67,500 USD.
Do you really think they would tell you that? So you could buy BTC and make price go higher and they would have to pay more for their BTC?
Exactly, these are also speculation guesses. And they only say this because they own Bitcoins and they want people to buy more bitcoins so the price goes up or they want people to stop selling bitcoins so the price doesn't go down.
IF they have a time-machine and went to Dec 31 2019 and saw that BTC is $67,500 USD.
Do you really think they would tell you that? So you could buy BTC and make price go higher and they would have to pay more for their BTC?
Exactly, these are also speculation guesses. And they only say this because they own Bitcoins and they want people to buy more bitcoins so the price goes up or they want people to stop selling bitcoins so the price doesn't go down.
Pantera has made very healthy returns on their investments in the cryptospace. Would anyone agree in their $67,500 prediction by end of 2019 or do we have no right to challenge it? If yes, then is it better to be sheep and follow Pantera? If no, then would you say that you can beat Pantera's returns for the next 5 years?
On Friday (27 July 2018), blockchain-focused investment firm Pantera Capital Management revealed via a blog post that Pantera Bitcoin Fund had generated a return of 10,136.15% (net of fees and expenses) over the past five years; it also said that it expected the Bitcoin (BTC) price to reach $67,500 by the end of 2019.
Pantera was founded in 2013 by former trader and hedge fund manager Dan Morehead, who is the current co-chief investment officer and CEO. It has over $700 million in assets under management (across two venture funds and four cryptocurrency funds).
Pantera's Bitcoin Fund had its five-year anniversary this month. So, the firm thought it would be interesting to share, via two emails sent out to investors by the CEO in 2013, the basis for its original (and still going strong) belief that Bitcoin would become a global currency and revolutionize how we deal with cross-border payments. Below, we highlight a few key sections from these two emails (we have used bold face used for emphasis.
Read in full https://www.cryptoglobe.com/latest/2018/07/pantera-capital-bitcoin-price-will-reach-67500-by-end-of-2019/
On Friday (27 July 2018), blockchain-focused investment firm Pantera Capital Management revealed via a blog post that Pantera Bitcoin Fund had generated a return of 10,136.15% (net of fees and expenses) over the past five years; it also said that it expected the Bitcoin (BTC) price to reach $67,500 by the end of 2019.
Pantera was founded in 2013 by former trader and hedge fund manager Dan Morehead, who is the current co-chief investment officer and CEO. It has over $700 million in assets under management (across two venture funds and four cryptocurrency funds).
Pantera's Bitcoin Fund had its five-year anniversary this month. So, the firm thought it would be interesting to share, via two emails sent out to investors by the CEO in 2013, the basis for its original (and still going strong) belief that Bitcoin would become a global currency and revolutionize how we deal with cross-border payments. Below, we highlight a few key sections from these two emails (we have used bold face used for emphasis.
Read in full https://www.cryptoglobe.com/latest/2018/07/pantera-capital-bitcoin-price-will-reach-67500-by-end-of-2019/
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