VanEck digital asset analysts have predicted a bold trajectory for Bitcoin prices. In their latest report, VanEck digital asset experts Nathan Frankovitz and Matthe Sigel stated in their most recent Bitcoin analysis, released on November 21, that the next stage of the cryptocurrency bull market is “just beginning.”
The statement highlights the confidence and optimism that many have in the OG cryptocurrency, giving the idea that the upward trajectory is likely to continue.
Additionally, the report highlights that at the top of the current cycle, the prediction lies at $ 180,000-a-piece for the Bitcoin price goal.
Bitcoin To Hit $180K?
In the recent report, the analysts forecasted that growing institutional interest and a more lenient regulatory framework in the US may propel Bitcoin (BTC) to $180,000 in the following 18 months.
The report also mentions that in a highly volatile post-election rally, the price of Bitcoin (BTC) has risen sharply. With no technical price barrier and the market currently in uncharted territory, analysts have predicted that the next stage of the bull market is only getting started.
This trend is similar to what occurred four years earlier, when the price of Bitcoin doubled between the 2020 election and year-end, and then increased by another 137% in 2021.
Investor interest is growing quickly as a result of the government’s radical change in support for Bitcoin. Since several of the major indicators that are monitored are still pointing in the right direction for this rally.
Therefore, the firm reiterated the cycle price objective of $180,000/BTC, even if the market is still on the lookout for any indications of overheating.
Bitcoin Price Surpasses Other Assets In The Market
As of November 21, 2024, the original cryptocurrency, Bitcoin, has surpassed the Taiwan Dollar to rank as the 12th largest currency globally.
The increase in position coincides with the fact that Bitcoin prices are consistently reaching new all-time highs and attracting the attention of numerous investors every day.
As the bullish trend continues, market participants currently anticipate that Bitcoin will soon overtake the Taiwan dollar permanently and may even surpass the Australian dollar in the near-future.
Since Donald Trump was elected president of the United States on November 5, the total value of the cryptocurrency market has grown by approximately $900 billion. Furthermore, an increase in the amount of money flowing into Bitcoin ETFs has maintained the value of BTC in circulation in the market, thus keeping the price afloat.