Billionaire has a 'freaky' new prediction on gold's biggest rival

The long-running gold versus Bitcoin (BTC) debate is heating up once again as both assets face renewed market pressure.

Gold prices tumbled at the start of the week, sliding nearly 3.5% as investors rotated into riskier assets amid signs of easing trade tensions between the United States and China. The precious metal has now dropped more than 9% from its record high of $4,381.21 reached on Oct. 20.

Bitcoin briefly stole the spotlight after touching $116,000 this week, before quickly retracing.

Neither asset has been spared by recent market turbulence. But according to one crypto billionaire, Bitcoin’s current rally may still have room to run.

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'Freaky' prediction makers

Dan Morehead, the billionaire founder and CEO of blockchain investment firm Pantera Capital, believes Bitcoin latest rally is far from over, and that the factors driving it are stronger than ever.

Morehead's Pantera Capital had earlier correctly predicted Bitcoin's valuation twice.

“We put out a prediction based on the past two halvings [...] that Bitcoin would hit $118,542 on August 11, 2025. And it did,” said Morehead. “It literally hit exactly the price, one day before we thought it would do it. [...] We thought it would hit $69,000 in August of 2021, and it did that day.”

Morehead described the accuracy of Pantera’s models as “freaky,” adding that the data-driven approach has repeatedly aligned with Bitcoin’s historical halving patterns.

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Bitcoin rally is far from over

Morehead now has a new prediction: the Bitcoin rally is here to stay for longer.

Speaking on the "Raoul Pal: The Journey Man" podcast, Morehead reiterated his long-standing belief in Bitcoin’s four-year market cycles.

While past cycles have been predictive, Morehead emphasized that changing U.S. regulations could make this time “different."

“The regulatory changes in the U.S., I think, just trump everything. They’re just huge,” he said. “And so I think we still have another leg to this rally to go.”

According to Morehead, the combination of regulatory progress, institutional adoption and sovereign investment funds entering the space will continue to drive Bitcoin’s momentum.

“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 rally-like,” he said. "It just feels like money’s coming into our space.”

Story Continues

At the time of writing, Bitcoin was trading 1.3% lower at $113,393. Its market capitalization stood at $2.25 trillion.

This story was originally reported by TheStreet on Oct 29, 2025, where it first appeared in the Trading News & Analysis section. Add TheStreet as a Preferred Source by clicking here.

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