{"id":566584,"date":"2021-04-23T12:24:52","date_gmt":"2021-04-23T09:24:52","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=566584"},"modified":"2021-04-23T12:31:55","modified_gmt":"2021-04-23T09:31:55","slug":"bitcoin-btc-will-hit-200k-in-2022-pantera-ceo","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-will-hit-200k-in-2022-pantera-ceo\/","title":{"rendered":"Bitcoin (BTC) Will Hit $200k in 2022 &#8211; Pantera Capital CEO"},"content":{"rendered":"<ul>\n<li><strong>Dan Morehead of Pantera Capital is anticipating Bitcoin to hit $200k by 2022<\/strong><\/li>\n<li><strong>His analysis is based on the adoption of Bitcoin<\/strong><\/li>\n<li><strong>For every million new users, the price of Bitcoin rises by $200<\/strong><\/li>\n<li><strong>Smartphones will be key in Bitcoin adoption<\/strong><\/li>\n<li><strong>Demand for Bitcoin by institutions is also rising and could lead to a $700k terminal value of BTC<\/strong><\/li>\n<\/ul>\n<p>The CEO of Pantera Capital, <a href=\"https:\/\/en.ethereumworldnews.com\/panter-capital-ceo-were-very-bullish-on-ethereum-eth-and-polkadot\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Dan Morehead<\/a>, has forecasted that Bitcoin (BTC) could hit a value of $200k in 2022.<\/p>\n<p>His analysis is based on <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-sets-its-eyes-on-62k-as-paypal-increases-crypto-adoption\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">the adoption of Bitcoin<\/a> on a global scale. He also explained that the price of Bitcoin increases by $200 with each addition of one million new users as explained in <a href=\"https:\/\/panteracapital.com\/blockchain-letter\/five-orders-of-magnitude\/\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">the following statement<\/a>, and accompanying table demonstrating a $200k possibility by 2022.<\/p>\n<blockquote><p>For every million new users, the price of bitcoin rises $200.It happened every time except for February 2016, when the price was slow to hit.<\/p>\n<p>The rise in the price has been amazingly constant.I\u2019ll leave it to some future Avogadro to figure out exactly why.The important point is:If this relationship holds, bitcoin will hit $200,000 in 2022.<\/p><\/blockquote>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022.png\"><img class=\"aligncenter size-large wp-image-566585\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022-1024x547.png\" alt=\"\" width=\"1024\" height=\"547\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022-1024x547.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022-300x160.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022-770x411.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022-500x267.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022-240x128.png 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022-717x383.png 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022-1347x720.png 1347w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Pantera-200k-by-2022.png 1426w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<h2>Smartphones will Drive Bitcoin Adoption<\/h2>\n<p>The analysis by Mr. Morehead and his team also pointed out that the key driver of Bitcoin adoption is smartphones. On a global level, roughly 3.5 billion people own one and it is &#8216;the only requirement to use Bitcoin&#8217;.<\/p>\n<h2>Institutional Demand and Reducing BTC Supply will Benefit Bitcoin&#8217;s Value<\/h2>\n<p>Additionally, the probability of Bitcoin hitting $200k by 2020 increases with the current demand of the digital asset by institutions <a href=\"https:\/\/en.ethereumworldnews.com\/we-have-a-bitcoin-btc-supply-shortage-pantera-capital-ceo\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">after the Bitcoin halving<\/a>. He explained this phenomenon as follows.<\/p>\n<blockquote><p>On the demand side, we\u2019ve had massive companies like Morgan Stanley and PayPal enter the market.That shifts the demand curve much higher.<\/p>\n<p>At the same time, the supply of newly-issued bitcoin was cut in half last May \u2013 as part of the every-four-years halving of bitcoin issuance.<\/p><\/blockquote>\n<h2>A $700k Possible Terminal Value of Bitcoin<\/h2>\n<p>In conclusion, his analysis pointed to a possible $700,000 terminal value of Bitcoin based on the $200 price increment per one million users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dan Morehead of Pantera Capital is anticipating Bitcoin to hit $200k by 2022 His analysis is based on the adoption of Bitcoin For every million new users, the price of Bitcoin rises by $200 Smartphones will be key in Bitcoin adoption Demand for Bitcoin by institutions is also rising and could lead to a $700k terminal value of BTC The CEO of Pantera Capital, Dan Morehead, has forecasted that Bitcoin (BTC) could hit a value of $200k in 2022. His [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":565690,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[1233,6961,7000,108224,108280],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566584"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=566584"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/565690"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=566584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=566584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=566584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}