The post VanEck Predicts Bitcoin Bull Run With $180K Target Ahead appeared on BitcoinEthereumNews.com.

VanEck predicts Bitcoin could reach $180,000 as the next bull market phase begins, driven by favorable regulations. FIT21 revisions and stablecoin rules are expected to enhance market privacy and empower state-chartered banks for innovation. The VanEck report has reaffirmed that Bitcoin will reach $180,000 during this market cycle. Driven by a more favorable regulatory environment and mounting institutional interest, analysts Nathan Frankovitz and Matthew Sigel from VanEck believe that the next phase of the bull market is only just starting. This forecast coincides with growing confidence surrounding better frameworks for digital assets in the United States, a fundamental element many believe to be essential for continuous industry expansion. Shaping the Future: FIT21 and Stablecoin Regulations  A key element of this changing terrain is the Financial Innovation and Technology for the 21st Century Act (FIT21). Approved by the U.S. House of Representatives in May 2024, FIT21 seeks to define the functions of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), so building a complete regulatory framework for digital assets. The White House has voiced doubts about the law, though, stressing issues with the suitability of consumer and investor protections. Concurrently, major changes in stablecoin regulation are under progress. Recent ideas call for state-chartered banks to create stablecoins without Federal Reserve clearance. Although some applaud this as a means of enabling state-level financial innovation, others—including the American Bankers Association and numerous state banking associations—have expressed concerns. They contend that absent regular federal supervision of state-licensed stablecoin issuers would lead to imbalances and compromise consumer protection. Meanwhile, BTC is swapped hands at about $97,360.10 at the time of writing; it dropped 1.24% over the last 24 hours. Many view this healthy correction as a normal phase of consolidation before more possible gains; it follows a sequence of bullish…

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Filed under: News - @ November 24, 2024 2:13 pm