Pantera Capital Predicts BTC Prices After Halfing Bitcoin 2024

Bitcoin price prediction after halling 2024. (Photo; Doc. Unsplash)

JAKARTA - Bitcoin, the world's largest cryptocurrency by market cap, will soon face an important event known as "halving" within 245 days.

Halfing Bitcoin is scheduled to take place around April 24, 2024, and many argue that this could trigger a significant price spike. Currently, the block prize for the Bitcoin network is 6.25 BTC per block, but after halving, this number will be cut to 3.125 BTC per block.

Observers at Pantera Capital, a company focused on investing in digital assets and blockchain technology, expressed its view that the price of Bitcoin would remain stable at around $3,448 per coin until half-time. However, once halving occurs, they predict a sharp spike of up to 317%, leading to a six-digit price range.

According to Pantera Capital, this prediction is based on the S2F price model (Stock-to-Flow). The model compares the value of Bitcoin to its scarcity level, taking into account the total supply of Bitcoin in circulation compared to the number of new coins created annually.

With sequentially halving, the supply of Bitcoin will be increasingly scarce, which in turn is expected to boost the value over time.

However, a number of Bitcoin price predictions in the past have not always been accurate, and many Bitcoin proponents remain skeptical of this claim. Even so, Pantera Capital's predictions are in line with the views of various other parties.

Fundstrates, for example, estimate the price of Bitcoin could reach 180,000 US dollars (Rp2.7 billion) after halving, while Blockware Solutions even calculated the figure of 400,000 US dollars (around Rp6 billion).

Not only that, but experts at Matrixport and Standard Chartered also provide an optimistic view. Matrixport argues that by the end of 2024, Bitcoin could be worth US$125.000 (Rp1.9 billion), while Standard Chartered projects the figure of US$120,000 (Rp1.8 billion).

However, there are many factors to consider to enter the crypto market in the midst of a market that is always dynamic with this volatile price movement.