VanEck Claims Bitcoin Rally 'Just Getting Started'
Analysis
Price Impact
HighVaneck, a reputable investment firm, is bullish on bitcoin and expects it to continue its rally. they are seeing increased interest from investors and believe bitcoin could reach $180,000 this cycle.
Trustworthiness
HighVaneck is a well-respected investment firm with a proven track record in financial markets. their expertise in cryptocurrencies adds credibility to their analysis.
Price Direction
BullishVaneck expects bitcoin to reach new all-time highs in the next two quarters, citing historical patterns and increased investor interest. they believe the current rally is just beginning.
Time Effect
LongVaneck is looking at a long-term outlook for bitcoin, predicting price increases over the next two quarters. they believe the rally is sustainable and will continue in the long term.
Original Article:
Article Content:
News Thu, 14/11/2024 - 14:20 Cover image via www.freepik.com Read U.TODAY on Google News During a Thursday appearance on CNBC's "Squawk Box," Matthew Sigel, head of digital asset research at VanEck, stated that the ongoing cryptocurrency rally was just "getting started." "We think that it's just getting started…We are now in blue sky territory. No technical resistance," Sigel said. The analyst expects Bitcoin to log "repeated" all-time highs during the next two quarters. HOT Stories BTC Creator Satoshi Nakomoto Now 19th Richest Person in World: Report Elon Musk’s Dogecoin Tweet Drives DOGE Army Nuts With Excitement ‘Planning The Bitcoin $100,000 Party’: MicroStrategy’s Michael Saylor BlackRock Discloses New Position in IBIT Sigel noted that the same exact pattern had played out four years ago. After breaking above the all-time high of the previous cycle on Dec. 16, 2020, Bitcoin ended up more than doubling in price in less than a month. On Jan. 7, 2021, the cryptocurrency surpassed the $40,000 level for the first time. The cryptocurrency then surged to nearly $60,000 in February 2021 after Tesla made an investment into the cryptocurrency. Advertisement Related Mon, 11/11/2024 - 05:20 Bitcoin Might Still Crash to Zero, Top Angel Investor Claims Alex Dovbnya Bitcoin is currently up roughly 30% in November after adding roughly 11% in October and 7.25% in September. On Nov. 13, it reached another record high of $93,477, according to CoinGecko data. Sigel has cautioned market participants that Bitcoin was not going to go up in a straight line, meaning that price corrections are likely. However, as of now, major indicators are still flashing green. During the previous cycle, there were about six 10% corrections, according to Sigel. He has added that VanEck is currently getting a lot of calls from investment advisors who want to gain exposure to Bitcoin. "These calls are starting to accelerate, and we think the flows are gonna follow," he added. VanEck believes that the leading cryptocurrency could potentially reach $180,000 during this cycle. This would still be the smallest Bitcoin cycle "by far." #Bitcoin Price Prediction