VanEck's Matthew Sigel Predicts Bitcoin to Surge Over 102%, Sets $180,000 Price Target Amid Pro-Crypto Climate

The head of digital assets research at VanEck believes Bitcoin (BTC) is set for even more growth. After recent gains, he sees a bright future ahead.

In a recent interview on CNBC’s Squawk Box, VanEck executive Matthew Sigel shared his thoughts. He thinks Bitcoin could rise over 102% from its current price.

“We believe it’s just getting started,” he said. “Bitcoin experienced a big volatility spike after the election. Now, we’re in what we call 'blue sky territory.' There’s no technical resistance, and we expect to see new all-time highs in the next two quarters.”

He pointed out that a similar pattern happened four years ago. Between the election and the end of 2020, Bitcoin doubled in value. Sure, there were about six corrections of 10%. So, it won’t be a straight path up. But, we’re already up 30%, and the indicators we track still suggest the rally will continue.

Sigel predicts Bitcoin could hit $180,000. Part of this optimism comes from the election of pro-crypto Donald Trump as President. He also noted that wealthy investors are increasingly looking to invest in Bitcoin, the leading digital asset.

“This is a significant shift in government support. I’m getting more calls from investment advisors wanting to increase their Bitcoin exposure. Some are starting from zero and want to reach 1%. Others at 1% want to go to 3%,” he explained.

VanEck has set a price target of $180,000 for Bitcoin in this cycle. They believe this milestone could be reached next year. That would mean a potential return of 1,000% from the lowest point in this cycle. Sigel emphasizes that this is still the smallest Bitcoin cycle to date.

As of now, Bitcoin is trading at $88,723, having risen over 145% in the past year. It’s an exciting time for Bitcoin enthusiasts and investors alike!