VanEck: Bitcoin to Hit ‘Repeated All-Time Highs’ Over the Next Two Quarters
Bitcoin to Hit ‘Repeated All-Time Highs’ Over the Next Two Quarters: VanEckBitcoin’s price momentum is poised for historic highs over the next six months, according to VanEck’s head of digital assets research, Matthew Sigel. Positioned in “blue sky territory” without technical resistance, Bitcoin is predicted to surpass all-time highs, targeting a peak price of $180,000 by 2025. The cryptocurrency has seen a significant 30% rise since early November, and analysts anticipate further gains following the recent U.S. election results that favor pro-crypto sentiment.Why is Bitcoin’s rally significant now? With market dynamics aligning post-election, experts believe Bitcoin’s bullish trend may mirror previous election-cycle performances, setting up a potential record-breaking surge.“It is just getting started,” Sigel told CNBC’s Squawk Box on November 14. “We’re now in blue sky territory, no technical resistance, and we think we are likely to make repeated all-time highs over the next two quarters.” Bitcoin’s unprecedented rise since the U.S. elections has fueled optimism among crypto investors. Sigel highlighted that growing inquiries from investment advisors looking to gain or increase Bitcoin exposure signal an acceleration in demand. The rally, which began in early November, has seen Bitcoin reaching new highs, with the latest peak recorded at $93,490 on November 13, according to TradingView data. Although the rally slightly cooled on November 15, trading around $88,100, VanEck maintains its long-term projection, envisioning a remarkable increase.VanEck’s forecast is not without precedent. The investment manager sees parallels between the current trajectory and Bitcoin’s performance after the 2020 U.S. elections when the cryptocurrency doubled in value between November and year-end. Sigel stated that “a 1,000% return from the bottom to the peak of this cycle” is anticipated, marking it as Bitcoin’s smallest growth cycle. He noted that key indicators tracked by VanEck are “still flashing green,” supporting the continuation of this rally.Regarding public interest, Google Trends data shows a spike in “Bitcoin” searches starting from November, though not yet matching the peak levels of May 2021. Coinbase ranks highly on app stores, reflecting increased attention toward Bitcoin and other cryptocurrencies. The Coinbase app currently ranks first in the U.S. Apple App Store's finance category and fifth in Google Play’s finance apps.“The search volumes for Bitcoin and the popularity of crypto apps are climbing but remain far from their 2021 highs,” Sigel observed, indicating room for continued growth as awareness builds.Currently, Bitcoin trades around $88,100, with VanEck’s $180,000 target still on the horizon for 2025. Investors are advised to stay informed of market trends, as indicators remain strong for a sustained rally in the coming quarters.