Mike Smith
November 15
Matthew Sigel, head of digital asset research at VanEck, has shared an optimistic outlook for Bitcoin's growth. In an interview with CNBC, the expert stated that the current rally of the leading cryptocurrency is still in its early stages, despite reaching a new all-time high of $93,434.
Sigel draws parallels with the market cycle of 2020-2021, when Bitcoin's price doubled between the presidential election and the year's end. According to him, the current momentum shows similar signs—Bitcoin has already gained 30% since the elections, with a predicted correction of 6-10% along the way.
VanEck's forecast is based on the company’s comprehensive technical indicators and anticipated shifts in U.S. government policy. Sigel highlights the potential presence of Bitcoin-friendly officials in a future Trump administration, from the vice president to the national security advisor.
The firm has set an ambitious target for Bitcoin at $180,000 by next year, representing a nearly 97% increase from its current price of $91,331. This projection is part of VanEck’s long-term strategy, which previously predicted the possibility of Bitcoin reaching $3 million per token by 2050, assuming an average annual growth rate of 16%.
Institutional support and technical indicators provide a favorable backdrop for this scenario, despite the market’s ongoing volatility. The expert community is closely monitoring developments, noting growing interest in the leading cryptocurrency from traditional financial institutions.
