Bitcoin To Peak At $180,000, Says VanEck’s Head Of Digital Assets Research
Posted On November 14, 2024
Matthew Sigel, Head of Digital Assets Research at VanEck, one of the spot Bitcoin ETF issuers, on Thursday projected Bitcoin (CRYPTO: BTC) to hit $180,000 in this market cycle, driven by strong government support and increasing institutional interest.
What Happened: As Bitcoin recently surged past $93,000, Sigel said, “We think it’s just getting started,” highlighting that the current administration’s pro-Bitcoin stance has created “blue sky territory” for the cryptocurrency.
Sigel cited previous patterns, noting how Bitcoin doubled between the 2020 election and year-end, and expects similar momentum over the coming quarters.
“Our price target for this cycle is $180,000, which would represent a 1,000% return from the bottom,” …
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