Bitcoin could soar to $148,000 by 2025 after the next halving cycle, Pantera Capital said.
In a recent note, the research firm said the token could have already seen its bottom in 2022.
"Bitcoin has historically bottomed 477 days prior to the halving, climbed leading into it, and then exploded to the upside afterwards," Pantera Capital wrote.
Joe Kelly, the cofounder and CEO of financial services company Unchained, also sees steep upside for bitcoin after the halving process.
He pointed out in a recent note that 12 months after the 2012, 2016, and 2020 halvings, bitcoin was up 8,069%, 284%, and 559%, respectively.
Persons:
Bitcoin, bitcoin, Satoshi Nakamoto, Joe Kelly, Kelly
Organizations:
Pantera, Service
Locations:
Wall, Silicon