Pantera Capital CEO Forecasts 2025 Bull Cycle Peak for Bitcoin

Dan Morehead, the CEO of Pantera Capital, a firm focused on digital assets, has forecasted that the next major bull cycle in the cryptocurrency market will reach its peak in 2025.

Speaking on the Bankless podcast, Morehead explained that Bitcoin’s price movements have consistently followed the four-year halving cycle. During a Bitcoin halving, miners’ rewards are halved, leading to a reduction in supply. Historically, Bitcoin’s price has seen significant rallies around these events, with the last halving taking place in April 2024.

Drawing from historical trends, Morehead predicts that Bitcoin will hit its cycle peak by August 2025. He highlighted that despite the more moderate market conditions compared to previous cycles, the upcoming rally still appears promising.

“The setup for 2025 looks very positive, not just because of the halving but also due to broader political and macroeconomic factors that align well for crypto,” he said.

Morehead’s price target for Bitcoin at its peak is $117,000, which represents an 18% increase from its current price. He added that historical data shows the impact of a halving starts around 400 days prior, with the peak occurring roughly 480 days later.

Back in 2022, when Bitcoin was trading at $17,000, Pantera Capital correctly predicted that it would reach $28,000 by the halving, and Morehead is now confident in his forecast of $117,000 by August 2025.