Dan Morehead, CEO of Pantera Capital, made a new prediction for Bitcoin. Morehead, with his prediction, has announced the level the leading cryptocurrency will see by the end of 2025. Here are the details…
Morehead: Bitcoin could rise to $400,000
Pantera Capital CEO Dan Morehead said that the price of the largest cryptocurrency, traded at $41,673 at the time of writing, will rise to $400,000 by the end of 2025. says. According to crypto enthusiast and CEO Dan Morehead, the rise in Bitcoin price will be stable over the next 10 years. This will be facilitated especially by more active adoption of cryptocurrencies.
Morehead stated that in the next 5-10 years every smartphone owner will use cryptocurrency to trade goods, services or cryptocurrencies. The global recognition of BTC will make the cryptocurrency even more attractive to institutional investors. According to Morehead, in addition to Bitcoin, many altcoins will also benefit. Especially those who own their own Blockchain – Solana states that coins like Ethereum could see a 90-100-fold price increase.
BTC mining difficulty reduced
However, at the moment, Bitcoin’s position seems to have been heavily affected by the Ukrainian-Russian conflict. Many Bitcoin miners are forced to shut down their platforms due to sanctions or rising energy costs. The mining difficulty of a Bitcoin (BTC) block has dropped 0.35 percent on Thursday for the second time this month, after a steady climb since November. According to data from the Glassnode platform, mining difficulty dropped 1.5 percent on March 3.
The difficulty is automatically adjusted according to the computing power in the network, also known as the hashrate, to keep the time between each mined block relatively constant at 10 minutes. According to Glassnode data, the Bitcoin mining hashrate dropped from an all-time high of 248 exahash/second (EH/s) in February to 216 EH/s on March 17. As we reported as Kriptokoin.com, electricity prices are rising worldwide due to Russia, one of the world’s largest fossil fuel exporters, entering a war with Ukraine and global energy supply chains being cut by sanctions.
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