Bitcoin’s frenzied market does not seem to be over yet. According to the analysis of Matthew Sigel, director of digital asset research at VanEck, Bitcoin’s rise is expected to continue into 2025 and continue to hit new highs in the next two quarters, all the way to $180,000. .
Matthew Sigel pointed out in a recent interview with (CNBC) that since Trump won the 2024 presidential election, the price of Bitcoin has continued to surge, which is exactly the same as the market reaction after Biden was elected in 2020. He said:
As we expected, Bitcoin saw a high-volatility rally following the election. The market is currently in an area of "clear skies and no resistance", and there is no technical pressure on the upside.
We believe that Bitcoin may frequently hit record highs in the next two financial quarters (as of March 31 and June 30, 2025).
Bitcoin surges after election, breaking through three levels in one week
Since the U.S. election on November 5, Bitcoin has successively exceeded three major levels of "US$80,000, US$85,000, and US$90,000" in just a few days. Bitcoin is currently trading at about $89,000, accounting for 57% of the market capitalization.
Matthew Sigel said, “This is exactly the same situation as 4 years ago.” “After the 2020 election, the price of Bitcoin doubled before the end of the year.”
The market had gone through six 10% corrections in that time, so the gains weren't straight up. We’ve seen a similar trend this year, with gains so far reaching 30%. According to many indicators we track, this market wave is likely to continue.
Looking back at the U.S. election market in 2020, Bitcoin rose from US$15,000 on November 6 to US$29,000 on December 31. It did not begin to fall until it reached the high of US$63,000 in April 2021. .
Price target as high as $180,000
As for the ultimate goal of this bull market, Matthew Sigel gave a high price prediction of $180,000. He believes that this target price is most likely to be reached next year.
This bull market has gained approximately 1,000% (from low to high), which is historically relatively mild compared to previous ones.
However, VanEck CEO Jan Van Eck is more optimistic. He earlier said that Bitcoin could reach as high as $300,000. He reasoned: “Bitcoin may eventually be worth half the global value of gold, which is about $300,000.”
Although Bitcoin fell today (15th), the transaction volume in the past 24 hours was still as high as 92.8 billion US dollars. Bitcoin has gained about 115% since the start of the year, making it the best-performing asset this year.
"All the way to $180,000! VanEck analyst: Optimistic about Bitcoin "repeatedly breaking new highs" in the next two quarters." This article was first published on (Block Guest).
