Shock and Bitcoin: Is $120,000 Just a Dream or a Reality?

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In the weary husk of an American life, where dreams seem as distant as the stars, Dan Morehead, the man at the helm of Pantera Capital—a company that has danced in the shadows of digital currency since the days when Bitcoin was but a whisper—has cracked open the dusty vault of possibilities. And what pours forth? A declaration that Bitcoin should be prancing about at a princely $120,000, maybe even doing cartwheels to $126,000, should the recent political shenanigans be taken into account. 🚀

Is Bitcoin Mispriced?

At a moment when Bitcoin shuffles along with a modest 24% growth since the last election—a rise hardly worthy of a half-hearted yawn—Morehead, that audacious soothsayer of finance, claims the market is crawling along at a snail’s pace. In his musings on X, he prods us to ponder why the price tag isn’t higher, given the political circus unfolding around us.

With a glint of irony fit for a Sunday sermon, he posits: “Imagine, just days before the election, if a wizard offered you a glimpse into a crystal ball. You would see the pro-crypto candidate triumphing, the anti-crypto folks tumbling out like a bad act in a vaudeville show, and a brand new Executive Order wishlist for crypto that could make any investor salivate—strategic reserves and all. All this unfolding in ten weeks? Surely, you’d wager that Bitcoin would be more than a clumsy goat on a 24% rise!”

He muses further, “If I had a nickel for every time markets ignored a clear upward trend, I’d be basking on a beach somewhere—a twelve-year growth rate of 83%? Well, it seems the crypto gods are taking a coffee break.”

Pointing to these milestones—like a father reminding his son not to forget his lunch—Morehead jabs at the market’s inability to recognize the bounty it left untapped: a robust presidential victory and Congress redefined, all while executive action swayed favorably for Bitcoin.

To think, an 83% growth would catapult the price of BTC over $126,000! This proclamation emerges from the wreckage of a recent market tantrum, where Bitcoin took a dramatic swan dive of over 7%—thanks a lot, President Trump and your tariffs. It’s a stark reminder that shining prospects can wither in the blink of an eye. 🔄

Arthur Hayes, a fellow traveler in this rugged journey of crypto, wades into the fray with a warning about the turbulent days ahead. He notes that the crucial price floor lies at $76,500. If Bitcoin can cling to that lifebuoy through mid-April, maybe, just maybe, we can find solid ground once more. “Mrkt no likey ‘Liberation Day’, if BTC can hold $76.5k btw now and US tax day April 15, then we are out of the woods. Don’t get chopped up!” he declares with all the optimism of a jaded sage.

Meanwhile, whispers circulate from Charles Edwards, the mastermind at Capriole Investments, suggesting that the Federal Reserve could be preparing a rescue mission, conjuring up images of a monetary genie being rubbed for all it’s worth. “Picture these tariffs crashing in like a bull in a china shop. The Phily Fed whispers sweet nothings reminiscent of the tumultuous years past: 2000, 2008, and 2022. How long until the Powell printer starts humming?” he wonders aloud on X, likely while sipping his overpriced coffee.

As of the last look, BTC was lounging at a comfortable $81,811, but who knows how long that calm will last in this rollicking ride? 🌪️

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2025-04-04 03:43