Dan Morehead, CEO of Pantera Capital, suggests that Bitcoin should be trading above $120,000, potentially even surpassing $126,000.
Morehead argues that the current market price fails to reflect recent political and regulatory developments that should have driven Bitcoin's price higher.
He outlines several milestones, including a pro-crypto presidential victory and supportive executive actions, that he believes are yet to be fully priced in by the crypto markets.
Despite recent market volatility, Morehead's bullish forecast suggests an 83% uptrend would position BTC above $126,000.