As a seasoned researcher who has witnessed the crypto market’s rollercoaster ride for several years now, I find myself intrigued by Van Eck’s latest Bitcoin prediction of $180,000 within 18 months. While such forecasts have been made before, the current regulatory environment in the United States does seem to be more favorable, and institutional interest is indeed growing. Trump’s election victory, as they suggest, might have been a catalyst for this bull market, but I wouldn’t rule out other factors like the pandemic-induced monetary policies or the search for digital safe havens.
Van Eck, a global investment firm, has once again predicted a price target of $180,000 for Bitcoin during this market cycle’s peak.
In their recent Bitcoin analysis dated November 21st, Van Eck’s digital asset specialists, Nathan Frankovitz and Matthe Sigel, assert that the upcoming stage in the cryptocurrency market rally is yet to truly commence.
Analysts anticipate that a more welcoming regulatory atmosphere in the U.S. and rising institutional investment might propel Bitcoin’s (BTC) value up to around $180,000 over the next 18 months.
As a crypto investor, I can’t help but notice that the surge we’ve witnessed in Bitcoin prices recently – peaking at an astonishing $99,800 over the past day – has been widely attributed to Donald Trump’s election win. Many market analysts believe this event served as a significant catalyst for this impressive rise.
Currently, Bitcoin’s market value stands at approximately $98,500 according to TradingView statistics. It’s only a 1.5% difference from reaching a new high of $100,000.
High funding rates show signs of overheating
On November 11th, the experts stated that Bitcoin had transitioned into a “novel stage.” At this point, the funding rates for perpetual future contracts surpassed 10%.
They mentioned that this change suggests an increase in short-term to mid-term market momentum. Previous observations show that high funding rates often lead to greater 30-60 day profits, indicating increased optimism and investment demand.
On the other hand, they pointed out that with funding levels staying high, the market gradually transitions into a period where those seeking long-term investments – spanning at least a year or two – find it less attractive.
“On average, purchases made on days when funding rates were above 10% began underperforming at the 180-day mark, with this trend becoming even more pronounced over 1-year and 2-year periods.”
Multiple experts predict that Bitcoin‘s value may reach or even exceed $100,000 by the end of the year, according to CryptoMoon. However, recent market fluctuations have led some analysts to suggest that Bitcoin might surge past $100,000 within a week.
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2024-11-23 05:51