With the asset surging throughout this week, $100 billion asset manager VanEck has said that their Bitcoin price target for this cycle is $180,000. The token surged to a $93,000 all-time high Wednesday, as it has continued to surge after Donald Trump emerged victorious from the 2024 US presidential election.
Speaking to CNBC Thursday, VanEck’s Head of Digital Research Matthew Sigel said that the token is “just getting started.” Moreover, Sigel described the asset’s current performance as “blue sky territory,” while assuring that the leading crypto is facing “no technical resistance.”
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VanEck Says Bitcoin Should Target $180,000 Amid Ongoing Bull Run
The last week has been massive for the cryptocurrency sector. Specifically, it has been a game-changer for the leading crypto, Bitcoin. Although the asset has had a dominant 2024 so far, its bullish momentum went into overdrive. Specifically, it skyrocketed after this year’s highly anticipated presidential election concluded.
The token may have retreated from its all-time high, but it is still performing strong. Indeed, it is up over 35% in the last 30 days, according to CoinMarketCap. Moreover, it has fallen below the $90,000 level but is still showing high activity. Specifically, it has produced a trading volume above $111 billion over the last day.
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Now, the $100 billion asset manager, VanEck, has assured that the increase is not likely to lose steam soon, giving Bitcoin a $180,000 price target for this cycle. Speaking to CNBC, Matthew Sigel predicted that the asset will enjoy “repeated all-time highs over the next two quarters.”
Moreover, Sigel noted that the “same pattern played out four years ago,” affirming the cyclical nature of the asset’s bull run. The current trajectory is challenging even the most optimistic BTC price projection. Indeed, the asset is likely to break through the $100,000 mark well before Trump is inaugurated in January.
