Matthew Sigel, Head of Digital Assets Research at VanEck, one of the spot Bitcoin ETF issuers, on Thursday projected Bitcoin (CRYPTO: BTC) to hit $180,000 in this market cycle, driven by strong government support and increasing institutional interest.
What Happened: As Bitcoin recently surged past $93,000, Sigel said, “We think it’s just getting started,” highlighting that the current administration’s pro-Bitcoin stance has created “blue sky territory” for the cryptocurrency.
Sigel cited previous patterns, noting how Bitcoin doubled between the 2020 election and year-end, and expects similar momentum over the coming quarters.
“Our price target for this cycle is $180,000, which would represent a 1,000% return from the bottom,” …
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