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Bitcoin could reach $180,000 by 2025, says VanEck expert

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2 hours ago

Bitcoin hit a new record high, surpassing $93,000, but soon its price dropped below $90,000. Meanwhile, some experts continue to predict long-term growth.

Bitcoin's Recent Dynamics

After reaching a new all-time high above $93,000, bitcoin's price soon fell below $90,000. However, growth expectations remain high among investors.

VanEck's Predictions

VanEck's Digital Assets Research Head, Matthew Sigel, stated on CNBC's Squawk Box program that Bitcoin's rise has just begun. He claimed that the price could double and reach $180,000 in this bullish cycle.

As we expected, Bitcoin saw this high volatility pump after the election. We are currently in blue sky territory, there is no technical resistance and we think we are likely to reach new all-time highs in the next two quarters. Similar patterns occurred four years ago. Between the election and the end of the year in 2020, Bitcoin doubled. There were several 10% corrections. So it's not going to be a straight line now, but we've risen 30% so far and many indicators we follow are still green for this trend continuation.Matthew Sigel

Growth Prerequisites

Sigel emphasized that their target price for this cycle is $180,000. If this prediction comes true, it would represent a nearly 1,000% trough-to-peak rally in this cycle, making it the smallest Bitcoin cycle to date.

While the current decline in Bitcoin seems temporary, many experts continue to express optimistic forecasts for its long-term growth.

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