- Venture investor Pantera Capital predicted a bullish trend in the cryptocurrency market.
- Experts noted the industry’s resilience in the face of negative events and the undervaluation of Bitcoin.
- Pantera Capital believes that DEXs have significant potential for further development.
The cryptocurrency market is on the verge of a fourth cycle, which will continue over the next 18 or 24 months. Pantera Capital experts came to this conclusion.
In their statement, analysts spoke about the stability of the crypto market in the face of challenges, which included Pantera Capital’s collapse of Terra Luna and Celsius, the bankruptcy of the FTX crypto exchange and the closure of Silicon Valley Bank. Experts noted the transition from the phase of “crazy bad events” to a positive climate and the gradual recovery of the industry.
About Bitcoin
After analyzing the history of the creation and development of Bitcoin, experts discovered that it continues to be one of the most undervalued assets in the world.. Meanwhile, Bitcoin has a number of features that make it a unique cryptocurrency, experts concluded:
- daily trading volume is $26 billion – 250% more than Apple;
- the asset is owned by more than 220 million people in the world;
- Bitcoin’s market capitalization exceeds $900 billion, which is 60% more than Visa;
- The computing power of the Bitcoin network is 500 times greater than that of the fastest computer.
Recall that in 2013, the fund’s CEO Dan Morehead invested almost $2 million in Bitcoin. He bought it for $65 per coin. Morehead’s investment is now valued at more than $1 billion.
Pantera Capital expects the global spread of Bitcoin as an asset and as a technology in Latin America, Africa and Asia:
Having studied previous Bitcoin halving cycles, experts came to the conclusion that reducing the mining reward from 6.25 BTC to 3.125 BTC per block will lead to an increase in the price of the asset in the long term.. In April 2024 it will be $35,448, but in 2025 it will exceed $147,000.
The impact of halving on the price of Bitcoin. Data: Pantera Capital.On regulation of the crypto market
The report shows an increase in institutional adoption, helped by regulatory clarity and the approval of spot Bitcoin ETFs in January 2024. Experts also mentioned the refusal to classify Ripple (XRP) as a security and Grayscale’s victory over the US Securities and Exchange Commission (SEC) in court.
According to experts, these developments are a harbinger of the creation of a regulatory environment and acceptance of cryptocurrencies in the United States and other countries around the world.
About the development potential of DeFi
Shifting the focus to Ethereum, Pantera Capital emphasized the importance of blockchain for the development of decentralized finance (DeFi). Historically, such protocols have accounted for between 8% and 50% of Ethereum’s market capitalization. The largest DeFi solution continues to be the decentralized exchange (DEX) Uniswap with a capitalization of over $5.5 billion.
Pantera Capital believes that DEXs have significant potential to increase market share. According to analysts, they offer a number of advantages, including flexibility, improved asset control, privacy, security and low commission costs.. In particular, experts noted the prospects for the development of the decentralized exchange dYdX, the TVL of which could exceed $10 billion.
In addition, experts spoke about the technological achievements of the ecosystem, which include the growth of L2 protocols for Ethereum, the development of ZK-rollups and the emergence of modular blockchains. Pantera Capital expects widespread adoption of tokenized treasury bonds, which will provide global liquidity, high speed and transparency of settlements.
Let us recall that Pantera Capital previously predicted an increase in the price of Bitcoin to $148,000 in July 2025. We also reported that the fund decided to change the format of investments in crypto projects.