Dan Morehead of Pantera Capital commented on the potential future rise of the bitcoin price in an interview. He pointed to a potential price move to $356,000 within three years based on past trends of Bitcoin’s price movements on a logarithmic scale. Morehead’s maths also hinted that the price of Bitcoin could rise to $42,000 by the end of 2019.
“…($42,000, $122,000 and $356,000) sound crazy, but (in) our first research piece that we wrote on Bitcoin, we predicted it would go to $5,000, and when it was at 100 bucks, everyone thought that was totally nuts, but these numbers, in 2 or 3 years, people look back and go, oh yeah, that makes sense,”
Shortly after attaining the $42,000 milestone, Bitcoin’s price dropped by 2.4% amid selling pressure. The decline puts Bitcoin at $41,194.34 at press time.