Pantera Capital: Bitcoin will exceed USD 530,000 in August 2021

In a letter to investors, Pantera Capital predicted that the cryptocurrency market’s market share of Bitcoin will increase from 64.60% in mid-March to 66.40% now. It is expected that this trend may continue to grow in the future, but The growth rate may be slower than the previous cycle; the market no longer continues to fluctuate in the range, so the long-term strategy will now be the best solution. At present, the quantitative strategy has been reduced to 20%, and it is set to the long mode; Bitcoin The halving coincides with the unlimited quantitative easing policy. These two factors should promote each other; historically, Bitcoin has bottomed 459 days before the halving, and has since climbed to the leading level, then skyrocketed. The peak from the halving to the bull market cycle averaged 446 days; in the current halving cycle, the market actually reached a trough 514 days before the halving. If history repeats itself, bitcoin will peak at $ 533,431 in August 2021.