Catenaa, Tuesday, November 19, 2024- Investment management firm VanEck has set an ambitious $180,000 price target for Bitcoin by 2025, citing strong momentum and a lack of technical resistance.
The cryptocurrency has surged nearly 30% since the November 5 elections, driven by a pro-crypto sentiment linked to Donald Trump’s presidential victory.
Matthew Sigel, VanEck’s head of digital assets research, emphasized that Bitcoin is in “blue sky territory,” with expectations of repeated all-time highs in the next two quarters.
Bitcoin reached a record high of $93,490 on November 13, before settling around $88,100.
VanEck’s forecast reflects a tenfold increase from Bitcoin’s lowest point this cycle but marks a smaller percentage gain compared to prior cycles. However, metrics tracked by the firm suggest that the rally remains robust, bolstered by rising search interest and surging app downloads for platforms like Coinbase.
Ryan Lee of Bitget Research highlighted Bitcoin ETFs and the narrative of Bitcoin as a potential U.S. reserve asset as key drivers. Lee projects Bitcoin could hit $150,000 within six months under favorable regulatory conditions.
The cryptocurrency market has seen heightened institutional interest, mirroring trends from Bitcoin’s 2020 post-election performance. Analysts suggest that regulatory clarity in 2025 could further accelerate growth.1
- https://cryptonews.com/news/vaneck-predicts-180k-bitcoin-price-target-for-2025/[↩]
