VanEck’s Top Researcher Predicts $180,000 Bitcoin Bull Run Top: Here’s When

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As a seasoned researcher with years of experience in the digital assets industry, I find VanEck’s Bitcoin bull run prediction intriguing. Having witnessed several market cycles and trends, I can say that predictions like these are not unheard of, but they certainly require a keen eye and a deep understanding of the market dynamics to be taken seriously.

In a recent conversation on the financial news program “Squawk Box” on CNBC, Matthew Sigel, who leads VanEck’s Digital Assets Research department, suggested that Bitcoin‘s ongoing surge is likely to persist for at least another two quarters. The value of Bitcoin spiked above $93,000 on Wednesday before experiencing a minor dip, representing an impressive increase of over 150% in its price this year.

VanEck’s Bitcoin Bull Run Prediction

Sigel believes we’re only at the beginning. As anticipated, Bitcoin has spiked with this level of volatility post-election. Currently, we’re in uncharted territory without any technical obstacles. It seems probable that we’ll hit new record highs multiple times over the following six months,” Sigel stated.

The professional made comparisons to Bitcoin’s price increase four years ago, pointing out that during the period between the election and the end of 2020, the digital currency nearly doubled in worth. He conceded that there had been several adjustments (or corrections) along the way, but various signals suggest that this upward trend will persist. “We’ve seen a 30% increase since the election, and many of the indicators we monitor are still showing positive signs,” he stated.

One way to rephrase this statement could be: “An important reason for this positive perspective is the perceived change in government endorsement towards Bitcoin. Sigel noted that influential figures within the administration, such as the Vice President, Attorney General, Defense Chief, National Security Advisor, and potentially even the Treasury Secretary, are favorable to Bitcoin.

Sigel additionally highlighted that the predicted end of “regulation through enforcement” by agencies such as the SEC could have a favorable effect on the crypto industry. He mentioned that there are already signs of this economic impact, with some cryptocurrency projects announcing they will hold conferences in the U.S. for the first time and open offices in cities like New York. This is fantastic news for job creation and the overall economy in the United States.

The curiosity and demand among institutions for Bitcoin is growing significantly. As Sigel stated, there’s been a surge in consultations from financial advisors aiming to either start or expand their involvement with Bitcoin via direct Bitcoin Exchange-Traded Funds (ETFs). He added that the inflow of calls from advisors, who are either new to Bitcoin (at 0%) or looking to increase their holdings (from 1% to 3%), is speeding up. He predicts that the investments will follow this increasing interest.

According to Sigel’s analysis, the current level of interest in market sentiment indicators has not yet matched previous highs, implying there’s potential for more growth. He pointed out that Google searches are significantly lower than they were four years ago, and Coinbase’s popularity on both Apple and Android app stores is also far from its peak four years ago.

According to Sigel’s perspective, VanEck predicts that Bitcoin could reach $180,000 during the ongoing bull market, possibly as early as next year. This forecast represents a 1,000% increase from the bottom to the top of this cycle, making it the smallest percentage gain among all Bitcoin cycles to date, as he pointed out.

The discussion also touched on potential regulatory changes, including the possible departure of SEC Chair Gary Gensler. While acknowledging that “the disappointment phase will set in one to two quarters after the inauguration,” Sigel suggested that the overall impact of reduced regulatory pressure would be positive. “One is just the positive impact on dynamism when you stop suing people for breaking rules that have never been written down,” he commented.

Sigel also underscored the wider consequences of validating Bitcoin as a reserve currency, suggesting it could “open the door for its use as a worldwide settlement currency, similar to how BRICS countries have been utilizing it.” Additionally, he pointed out the potential harmony between Bitcoin and artificial intelligence. In essence, he stated that President Trump acknowledges this connection – considering them two complementary aspects – stating, “If you aim for affordable AI, integrating it with Bitcoin mining will be beneficial due to its low-cost power resources.

At press time, BTC traded at $90,816.

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2024-11-15 19:26