Van Eck has reissued a $180K Bitcoin price target for the current market cycle.

Global investment manager Van Eyck has once again set a price of $180,000 for Bitcoin at the peak of the current cycle.

In their latest Bitcoin report on November 21, Van Eyck digital asset analysts Nathan Frankowitz and Matty Siegel said the next phase of the crypto bull market is “just getting started.”

An increasingly friendly regulatory environment in the United States and growing institutional interest are predicted to propel Bitcoin (BTC) to $180,000 in the next 18 months.

Like other market experts, the analysts credited Trump's election as the primary catalyst for the move that sent Bitcoin prices soaring to $99,800 in the past 24 hours.

As of press time, Bitcoin is trading at $98,500, 1.5% away from breaching the $100,000 mark recorded by TradingView data.

High funding rates show signs of warming

The analysts shared that since November 11, Bitcoin has entered a “new level” in which the funding rate for perpetual futures contracts exceeded 10%.

“This shift points to strong short-to-medium-term momentum, as historically higher funding has been associated with 30- to 90-day returns, reflecting higher sentiment and demand,” he said.

Related: Will Bitcoin Go Back to $90K Next? Traders differ in BTC price reversal possibilities.

However, as funding rates continue to rise, the market has begun to shift to a level where investors looking at long-term returns — within a year or two — are not comfortable, he said.

“On average, purchases made on days when funds rates were above 10% began to underperform at the 180-day mark, a trend that is more pronounced over the 1-year and 2-year periods.”

Several analysts told Cointelegraph that they expect Bitcoin to trade at or above $100,000 by the end of the year, but given the current market conditions, some analysts say that Bitcoin could easily top $100,000 in the next week.

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