There’s never a shortage of Bitcoin (CCC:BTC-USD) price predictions as analysts continue to weigh in on the most popular cryptocurrency.
This time around though we aren’t looking at a slew of bitcoin price predictions, but rather what one analyst has to say on the matter. That’s Pantera Capital CEO Dan Morehead. He believes there’s still plenty of room for the crypto to run.
According to Morehead, the history of bitcoin shows that it will keep rising higher. He claims that this could have it reaching $200,000 a year from now. It’s also worth pointing out that Pantera Capital’s bitcoin predictions include its price reaching $115,000 this summer.
So why is Morehead so bullish on bitcoin? Here’s what he said in a recent interview highlighted by AMB Crypto.
“My prediction is Bitcoin will be 213 percent high, a year from now… that puts it at $200,000 a year from now. I know it sounds crazy, but I think it’s likely to happen. All the fundamentals seem fantastic. For every million new users, the price of bitcoin rises $200. It happened every time except for February 2016, when the price was slow to hit.”
The Pantera Capital CEO’s strong stance on bitcoin doesn’t stop with just a price prediction for next year. He’s also expecting it to reach absolutely massive levels over the long term. That includes a price prediction that the crypto will trade for more than $12.5 million by the time 2031 gets here.
BTC was up 7.3% as of Friday afternoon over a 24-hour period. The cryptocurrency is also up 96% since the start of the year.
Of course, Dan Morehead is far from the only analyst weighing releasing bitcoin price predictions.
Plenty of other analysts are also taking a shot at guessing where the crypto’s price will go. However, not all analysts are as bullish as the Pantera Capital CEO. Still, we’ve been collecting bitcoin price predictions over the last month and it’s worth taking some time to see different views on the digital asset.
More Bitcoin Price Predictions
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The post Bitcoin Price Predictions: Why One Analyst Says BTC Will Hit $200K in 2022 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.