Head of research at VanEck says Bitcoin bull run is just getting started
Matthew Sigel predicts Bitcoin’s bull run will continue for at least two more quarters. Institutional interest is growing, with advisors considering 1-3% Bitcoin allocations. VanEck targets Bitcoin at $180,000, forecasting a 1,000% rise from market lows. In a recent CNBC “Squawk Box” interview, Matthew Sigel, Head of Digital Assets Research at VanEck, forecasted that the current Bitcoin rally is in its early phases. Bitcoin (BTC) recently surpassed $93,000, marking a substantial 150% gain this year before experiencing a slight correction and Sigel is forecasting continued growth for at least two more quarters. Change in government support and surge in institutional interest Sigel drew comparisons to Bitcoin’s performance in 2020 when the asset doubled in value between the election and the end of the year. “We’re now in uncharted territory with no technical resistance. We anticipate seeing new all-time highs over the next...