The post VanEck Sets New Bitcoin Target of $180K, Says BTC Rally Just Getting Started appeared on BitcoinEthereumNews.com.

Matthew Sigel, the Head of Digital Asset Research at VanEck, remains optimistic about the price trajectory of Bitcoin, suggesting that BTC’s rally is just getting started.  Sigel made the assertion during an interview on CNBC. Notably, he expressed his view about the future price action of the world’s largest cryptocurrency.  The price of bitcoin rose above $90,000 and @matthew_sigel says the rally is just getting started. “We’re likely to make repeated all-time highs over the next two quarters,” he says. pic.twitter.com/P2roCnFNaE — Squawk Box (@SquawkCNBC) November 14, 2024   Yesterday, Bitcoin crossed the $90,000 mark to set an all-time high (ATH) of $93,434. Bitcoin plunged below the $90,000 mark shortly after the rally, with many investors speculating that the asset’s uptrend might end soon.  Bitcoin Is Just Getting Started   However, Sigel believes that the Bitcoin rally is just getting started, forecasting that the top asset would make repeated all-time highs over the next two quarters. He mentioned that Bitcoin’s latest price action is similar to what happened in the 2020/2021 market cycle.  Sigel noted that the price of Bitcoin doubled in 2020 between the period of the U.S. presidential election and year-end. According to him, Bitcoin only saw 6-10% corrections within that period, which he referred to as an expected move.  Similarly, the VanEck executive noted that Bitcoin is replicating its 2020 pattern, which began with a surge after the election. He pointed out that Bitcoin has already surged 30% since the election, reinforcing the idea that BTC is just getting started.  Factors Backing Sigel’s Forecast  His confidence stems from the company’s unique technical indicators, which confirm that Bitcoin is expected to continue its bullish streak.  He also mentioned an imminent change in government sentiment toward Bitcoin. According to him, the Trump-led cabinet has several pro-Bitcoin officials, ranging from the…

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Filed under: News - @ November 14, 2024 7:25 pm