Key Points
- Investment manager VanEck predicts Bitcoin could reach $180,000 by 2025 due to rising institutional demand.
- VanEck’s head of digital asset research, Matthew Sigel, suggests the current rally is just the beginning of a larger upward trend.
VanEck, a well-known investment manager, has recently projected a bold target of $180,000 for Bitcoin in 2025. This prediction comes in the wake of Bitcoin’s impressive surge.
Bitcoin’s Bullish Momentum
During a CNBC interview, Matthew Sigel, VanEck’s head of digital asset research, emphasized that the current rally is only the start of a larger upward trend. He claimed that Bitcoin is now in blue sky territory with no technical resistance and is likely to make repeated all-time highs over the next two quarters.
Bitcoin has seen a significant surge of approximately 30% since Donald Trump’s election victory, driving a broader market rally. As of the 15th of November, Bitcoin was trading at around $88,100 after a 1.48% dip in the last 24 hours. This indicates a brief cooling of its bullish trajectory.
Bitcoin’s Post-Halving Effect
The recent surge in the crypto market is partially linked to Trump’s election victory and is widely anticipated. Analysts argue that the rally isn’t solely driven by political outcomes, the post-halving effect has also played a significant role.
Matthew Sigel noted that Bitcoin’s current trends mirrored the aftermath of the 2020 elections, when Bitcoin’s value doubled in the months following Election Day. This suggests a combination of market cycles and election-driven sentiment is at play.
Sigel also highlighted the increasing institutional interest in Bitcoin, emphasizing a significant shift in sentiment among investment advisors. Many of these advisors, who had previously steered clear of Bitcoin, are now showing a growing enthusiasm to incorporate it into their portfolios.
Sigel suggested that the growing institutional interest could act as a major catalyst for Bitcoin’s price rally, fueled by increasing capital inflows.
However, not everyone shares this optimism. Bitcoin critic Peter Schiff voiced his skepticism on social media, criticizing the influence of Bitcoin advocates and questioning the asset’s long-term viability.