VanEck Research Director: Bitcoin is expected to reach $3 million by 2050

Matthew Sigel, head of digital asset research at VanEck, said recently that the perpetual futures contract funding rate remained above 10% for more than two consecutive months "usually indicating that there is excessive speculation in the market." "Just recently, this indicator has exceeded 10%, but it has only been a few weeks." He continued that relative unrealized profits reaching 0.7 or higher indicate that the market is about to fall, "We just reached the 0.6 level. Generally speaking, forward returns are still quite good, and when we reach the 0.7 level, we may be closer to making the best judgment (BTC price prediction)." Sigel also said that he expects the price of Bitcoin to reach $3 million by 2050. If President-elect Trump fulfills his promise to establish a national "strategic reserve" of Bitcoin, its price may be higher. If the United States purchases 1 million Bitcoins in the four years of Trump's second term, and the price of Bitcoin appreciates at an average rate of 25% per year by 2050, each Bitcoin may be worth $42 million. However, Sigel noted that this growth rate is unlikely to be achieved, and believed that "national adoption of Bitcoin is critical to pushing Bitcoin to a multi-million dollar valuation." (DL News)