Bitcoin has had a rough time this past week. The price of the world’s biggest cryptocurrency is currently below $10,000.
In the longer term, however, things look good for bitcoin, at least if one is to believe Dan Morehead, CEO of the crypto fund Pantera Capital. He believes that the cryptocurrency can reach a really high price by the end of the year.
“If bitcoin follows its historical trend line, the price will reach $42,000. I know it sounds crazy, but basically, we are already halfway there”, he says in the latest episode of the Unchained Podcast.
$356,000 in 2021
Dan Morehead also believes that if bitcoin continues to develop as he thinks, the cryptocurrency will have a price of $356,000 by the end of 2021, Bitcoinist reports.
It remains to be seen if he is right.
