Categories: Bitcoin Business

Bitcoin Set to Surge, Cryptocurrency Hedge Fund Disagrees With Barclays

Click here to view original web page at

One of the worlds largest cryptocurrency hedge funds predicts the end of Bitcoin’s slump in sharp contrast to Barclays bank which claims the cryptocurrency has found its “new norm”.

Hedge Fund Looks for Bitcoin to Surpass $20,000

Pantera Capital Management says that Bitcoin has found it’s ultimate low at $6,500 in this bear market and that it should stay above that for the remainder of the year.

The crypto investment firm which began trading in Bitcoin in 2014 and now has more than $800 million in assets sent a note to investors on Thursday, April 12, saying that it has only made three buy and one sell recommendations in seven years, but they predict Bitcoin will rise to and surpass it’s previous $20,000 price high by the end of the year.

According to Bloomberg, Pantera’s Dan Morehead and Joey Krug stated in the note,

“For those who are new to Pantera who might think a fund manager like Pantera would always be saying ‘Today’s a great day to get long” I rarely have such strong conviction on timing. A wall of institutional money will drive the markets much higher.”

The prediction from Pantera Capital comes in part from Bitcoin having crossed its 200-day moving average. Referred to as the “death cross” by some economists in reference to the shape created when the 50-day moving average crosses below the 200-day moving average.

Though the term is ominous Pantera sees it as a good sign, writing in their report that “Traders often use that time period as it seems to be the optimal response time of human psychology. Long enough to stop fretting about missing the trade. Not too long that the information is lost.

Pantera Report in Conflict with Barclays Findings

The report from Pantera Capital calling for Bitcoin to see big gains in the coming year is in direct conflict to the recent findings from Barclays Bank analysts who likened the movement of the cryptocurrency markets from the high in late 2017 to the lows at the start of 2018 to a viral breakout that has been treated.

As was reported by NewsBTC economists at Barclays created a model that examined the rise and fall of Bitcoin. They explained their methodology saying “We developed a theoretical model of an asset price with a pool of speculative investors and compared it with actual bitcoin price behavior to see what it might imply for the future dynamics

From this, the analysts concluded that Bitcoin will continue on a “downward spiral” while hesitating to predict a fall below $6,000.

The story that first ran in the Independent balanced Barclays’ findings with the comments of former COO of Skype Micheal Jackson who said Bitcoins price lows at the moment will “will appear trivial” by years end.

Tags: barclays Bitcoin, Bear market, bitcoin price, pantera capital

Australian Power Company to Reopen Coal Power Plant to Mine Bitcoin
Bitcoin Rallies to $8,000 In An Epic Recovery

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Authorities Bust Illegal Crypto-Mining Lab In Nuclear Power Plant

Ukrainian news media is reporting that last month an illegal cryptocurrency mining operation was discovered and confiscated on the site… Read More

1 hour ago

Why Mark Carney Thinks The Dollar Can No Longer Be The World’s Reserve Currency

While Jerome Powell's highly anticipated Jackson Hole speech was, in the words of Brean Capital's Russ Certo "underwhelming and anti-climatic",… Read More

1 hour ago

Bitcoin Transactions Lead to International Drug Trafficking Ring’s Arrests

Criminals often express their favoritism toward cryptocurrencies. The perceived privacy and anonymity associated with this payment method makes for an… Read More

1 hour ago

Initiative to Curtail Negative Interest Rates Gains Traction in Germany

Negative interest rates, a common occurrence in Europe these days, are unpleasant for both banks and clients. And financial institutions… Read More

1 hour ago

Analyst Says Bitcoin Is About to Seriously Impress Us

As of late, bitcoin – the granddaddy of all crypto – is once again experiencing small bursts of bearish behavior.… Read More

1 hour ago

Gloomy Stock Market Faces New China Taunt: We’ll Get ‘Last Laugh’

A gloomy stock market must wrestle with China's latest taunt, in which it warned it would "fight to the end"… Read More

1 hour ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More