PanteraÂ CapitalÂ founderÂ DanÂ MoreheadÂ andÂ GrayscaleÂ Investments’MichealÂ SonnensheinÂ areÂ givingÂ theirÂ predictionsÂ onÂ theÂ priceÂ trajectoryÂ ofÂ Bitcoin.
Morehead says that he and his organization remain optimistic about the crypto-currency godfather. He claims that BTC is gearing up for another bull run that traditional expectations would consider “ludicrous.”
Because Bitcoin has had a compound annual growth rate of 209% for the past nine years, they think it will continue to do so. It has some volatility, some down trades, but if it does return to that trend, it will be at $ 100,000 by the end of next year.
He added that in traditional markets, something went up 10x would be ludicrous, but it will happen every three or four years and all factors are in place fit together. So he thinks it’s a nice shot to hit $ 100,000 by the end of next year.
Sonnenshein says individuals should put money into Bitcoin, or they will lose it. He cites a recent Grayscale study that compares the existing market structure of BTC to 2016 before a record 4,400 percent rally began for the coin.
â€œIn my opinion, Bitcoin is not something people should be putting more money into than they can afford to lose. Think of it as an early-stage technology. Buyer beware, it does have those 80% drawdowns, but from here, Bitcoin is either a hell of a lot higher and a lot more valuable than it is today, or something somehow comes along and displaces Bitcoin and we all move on to something else.â€