Bitcoin’s incredible momentum after the U.S. elections has led to bold predictions, with investment management firm VanEck setting a $180,000 price target for the cryptocurrency by 2025.
Bitcoin in “Blue Sky Territory”
On November 14, Matthew Sigel, VanEck’s Head of Digital Assets Research, expressed optimism on CNBC’s Squawk Box. Sigel declared Bitcoin is in “blue sky territory,” with no technical resistance limiting its upward trajectory.
He highlighted that Bitcoin could achieve repeated all-time highs over the next two quarters. After surging nearly 30% since November 5, Bitcoin touched a record of $93,490 on November 13 before stabilizing around $88,100 by November 15.
VanEck’s forecast represents a tenfold gain from the cycle’s lowest point, suggesting this rally might be more tempered than past cycles but far from over.
Indicators Point to Sustained Growth
VanEck pointed to several metrics indicating sustained growth:
- Search Interest: Google search volumes for “Bitcoin” have tripled since early November.
- App Downloads: Coinbase surged to the top of finance app rankings on Apple and Google Play.
- Institutional Interest: Investment advisers are increasingly seeking Bitcoin exposure, hinting at institutional inflows.
The firm’s outlook aligns with Bitcoin’s historic post-election rally in 2020, when its value doubled between Election Day and year-end.
Bitget’s Ryan Lee Projects $150K BTC
Ryan Lee, Chief Analyst at Bitget Research, echoed bullish sentiments, setting a $150,000 price target for Bitcoin within six months. Lee emphasized the role of Bitcoin ETFs, noting significant inflows driven by discussions around Bitcoin as a potential U.S. reserve asset.
He explained:
“If Bitcoin becomes a U.S. reserve asset, it could spark similar actions globally, driving inflows of hundreds of billions.”
Lee anticipates a short-term trading range of $82,000 to $110,000, with the possibility of hitting $94,000 triggering $1 billion in short liquidations and accelerating the rally further.
A Historic Cycle in the Making
With institutional demand, technical barriers absent, and increasing public interest, Bitcoin appears poised for another historic growth cycle. If VanEck’s and Bitget’s forecasts hold true, 2025 could mark a significant milestone in Bitcoin’s journey to global prominence.