- VanEck predicts Bitcoin could reach $180,000 by 2025 amid rising institutional demand.
- The post-halving effects and Trump’s pro-crypto policies have fueled Bitcoin’s bullish momentum.
In the middle of Bitcoin [BTC] Notable increase: Investment manager VanEck has set an ambitious target of $180,000 for the cryptocurrency by 2025.
During a recent CNBC interviewMatthew Sigel, VanEck’s head of digital asset research, emphasized that the current rally is just the start of a larger uptrend.
He said,
“We are now in blue sky territory, with no technical resistance, and we think we are likely to hit repeat record highs over the next two quarters.”
How did Trump’s victory affect Bitcoin?
Since Donald Trump’s election victory, Bitcoin has risen by about 30%, sparking a broader market rally.
For those who don’t know, BTC reached an impressive peak of nearly $93,490 on November 13, as reported by TradingView.
However, as of November 15, momentum has waned somewhat. At the time of writing, Bitcoin was trade at around $88,100 after a 1.48% dip in the past 24 hours, signaling a brief cooling off of the bullish trajectory.
Needless to say, the RSI remains bullish and remains strong at level 74. However, since the price is in the overbought zone, a pullback could be on the way.
Source: trading view
The crypto market’s recent surge, while partially linked to Trump’s election victory, was widely expected.
Analysts including Jesse Myers, co-founder of OnrampBitcoin, have pointed out that the rally is not just driven by political results. Instead, the post-halving effect has also played an important role.
“The main story here is that we are more than six months after the halving.”
VanEck’s 6-figure Bitcoin target
Bitcoin’s current trends reflected the aftermath of the 2020 election, when Bitcoin’s value doubled in the months following Election Day. This suggested that a combination of market cycles and election sentiment is at play.
Sigel noted that several factors are at play:
“Our goal is $180,000. We think we can achieve that next year.”
He added:
“That would be a 1,000% return from the bottom to the top of this cycle, which is still by far the smallest Bitcoin cycle.”
Additionally, Sigel highlighted the increasing institutional interest in Bitcoin, underscoring a significant shift in sentiment among investment advisors.
He said many of these advisors, who had previously avoided Bitcoin, are now showing growing enthusiasm to include it in their portfolios.
This was because Sigel noticed a wave of inquiries from professionals looking to leverage Bitcoin’s potential. These studies reflected the fund’s evolving status as a mainstream investment vehicle.
He added:
“The number of calls I’m getting from investment advisors who are at zero and looking for 1%, or at 1% and looking for 3%, these calls are starting to accelerate.”
Sigel hinted that growing institutional interest could act as a major catalyst for Bitcoin’s price rise, fueled by increasing capital inflows.
What’s more?
Well, Sigel wasn’t alone, as Standard Chartered recently predicted that the total cryptocurrency market capitalization could rise to $10 trillion by 2026, especially under a Republican-led administration that promotes crypto-friendly policies.
However, not everyone shares this optimism.
For example, famed Bitcoin critic Peter Schiff expressed his skepticism on social media, criticizing the influence of Bitcoin proponents and questioning the asset’s long-term viability, noting:
“Bitcoin is only a threat to those who HODL it or invest in related companies.”