Pantera Capital: Bitcoin Set to Begin Meteoric Bull Run But Ethereum and Certain Altcoins Will Outperform BTC – The Daily Hodl

The crypto-focused venture firm Pantera Capital just released its latest outlook on Bitcoin and the overall crypto markets.

In a note to investors, CEO Dan Morehead says he expects an ongoing tidal wave of money printing to boost BTC as investors search for assets with a fixed supply.

That tsunami of money will have a large impact on many things. In our markets it seems inevitable that it will push up the price of fixed-quantity things like bitcoin. If there are trillions more paper dollars, the law of supply and demand implies much more paper money to buy the same amount of cryptocurrency.

Panteras analysis shows Bitcoin targeting $150,000 by August of next year.

As for the altcoin market, Pantera co-chief investment officer Joey Krug points out a number of coins have outperformed BTCs 34% gains this year, including a 98% rise in 0x (ZRX), a 97% surge in Augur (REP) and an 88% jump in Ethereum (ETH).

Its a trend that Pantera expects to continue in a new bull cycle.

During cryptocurrency bull markets, we expect assets outside of bitcoin (alt-coins or alts) to outperform

Historically, alts havent outperformed until mid to late in the bull cycle. For instance, from Jan 1, 2016 to Dec 31, 2016 bitcoins share of the market dropped from 91% to 87%. But by the end of 2017 it was down to 38%. Its currently sitting at 65%. The implication here is that over time we expect the performance gap between alts and bitcoin to widen over the course of the next year, with alts outperforming.

According to Krug, another boom for initial coin offerings is unlikely to happen, and coins will need to prove their utility this time around. The firms multi-currency hedge fund is currently outperforming BTC by about 20%.

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Pantera Capital: Bitcoin Set to Begin Meteoric Bull Run But Ethereum and Certain Altcoins Will Outperform BTC - The Daily Hodl

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