The chief executive of the crypto asset management firm Pantera Capital is updating his outlook on Bitcoin (BTC).
In a new interview with Raoul Pal, Dan Morehead – whose firm accurately predicted two of the crypto king’s previous tops – says that the flagship digital asset will continue to rally into 2026.
“We forecast a couple years ago that Bitcoin would hit $118,542 on August 11th, 2025. And it did. It literally hit exactly the price and I’ll admit it did it one day before we thought it would do it. Freaky.
And we did that the last time, too. We thought it would hit 69,000 in August of 2021 and it did that day. So, the punchline is we really really nailed it…
I think we still have another leg for this rally to go. If all these endowments come in, all these sovereigns come in that we’re seeing, frankly, we’re going to put the money to work…
So I think the next six to 12 months are still big. I know it’s horrible because you don’t want to be hung by the internet by saying you said [the four year cycle] was going to extend. But I think it’s going to extend.”
According to Morehead, crypto-friendly regulations will likely fuel Bitcoin’s price well into the new year.
“The regulatory changes in the US, I think, just trump everything. They’re just huge… It just feels like money’s coming into our space.
We actually just held our annual investor meeting at the plaza yesterday and one of our longest investors said he could see the fear in the eyes of the people who are underallocated.”
Bitcoin is trading for $110,588 at time of writing, a marginal increase during the last 24 hours.
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