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The rapid ascent of Bitcoin following the U.S. elections has paved the way for potentially larger gains, with investment management firm VanEck forecasting the cryptocurrency to reach $180,000 by 2025.
Matthew Sigel, who leads digital assets research at VanEck, shared his perspective on CNBC’s “Squawk Box” on November 14, asserting, “It is just getting started.”
Sigel highlighted that Bitcoin is currently in “blue sky territory,” where there are no technical barriers hindering its progress.
Bitcoin Poised for Continuous ATHs
He anticipates that the foremost cryptocurrency will achieve successive all-time highs over the upcoming two quarters.
Bitcoin, which has surged nearly 30% since November 5, reached its most recent peak of just under $93,490 on November 13.
This upward movement has been partially linked to a favorable crypto sentiment following Donald Trump’s return to the U.S. presidency.
Despite a minor slowdown in the rally, Bitcoin remains robust, trading around $88,100 as of November 15.
VanEck’s $180,000 target signifies a tenfold increase from the cycle’s lowest level, representing the smallest Bitcoin rally in terms of percentage gains compared to earlier cycles.
However, Sigel indicated that indicators suggest the momentum is far from finished.
“Our target is $180,000. We believe we could achieve that next year,” he stated, adding that metrics monitored by VanEck “are still flashing green.”
Search interest in Bitcoin and app downloads also reflect increasing public interest.
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While Google search volumes for “Bitcoin” remain below their 2021 peak, they have nearly tripled since early November.
Likewise, Coinbase has ascended to the top of finance app rankings in both Apple and Google Play stores.
Sigel remarked that inquiries from investment advisers seeking Bitcoin exposure are increasing, indicating potential market inflows.
VanEck’s optimistic outlook parallels Bitcoin’s post-election performance in 2020, when the asset doubled in value from Election Day to year-end.
With institutional interest on the rise and technical obstacles absent, the conditions are favorable for another significant Bitcoin cycle.
Bitget’s Ryan Lee Anticipates $150K Bitcoin on Inflows
Bitcoin’s recent rise past $93,000 is driven by considerable inflows from traditional funds via Bitcoin ETFs, according to Ryan Lee, Chief Analyst at Bitget Research.
In a statement, Lee noted that a key factor in the increasing Bitcoin ETF inflows is the narrative of Bitcoin potentially being recognized as a U.S. reserve asset, a possibility suggested by President-elect Trump at the Nashville Bitcoin Conference.
“If Bitcoin becomes a U.S. reserve asset, it could prompt similar actions by other nations, resulting in net inflows totaling hundreds of billions of dollars and elevating BTC to new heights,” he stated.
Lee also projected a Bitcoin price range of $82,000 to $110,000 in the short term and $73,000 to $150,000 over the next six months.
Anticipated cryptocurrency regulation policies next year could offer further market support.
“Key indicators to watch include the funding rate: if the funding rate for long positions in contracts surpasses an annualized 50%, or 0.05% every 8 hours, it could indicate a potential adjustment,” he explained.
Lee asserted that if Bitcoin surpasses $94,000, it may trigger $1 billion in short liquidations, further enhancing price momentum.
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