VanEck Analyst predicts all-time high prices for Bitcoin in the coming months

Matthew Siegel, head of digital research at VanEck, has described a promising future for Bitcoin to 2025.

According to him, the world's largest cryptocurrency could reach an all-time high (ATH) of $180,000 in the next few quarters.

Bitcoin's current market direction

In an interview on CBNC on November 14, Siegel suggested that the pressure could come from current market volatility that is showing little technical resistance.

Over the past few days, the asset has broken the ATH price on several occasions, including a short run above $93,000, before returning to levels around $89,000.

His assertion is supported by historical trends, which show that the OG cryptocurrency usually makes huge gains after the US election, regardless of who ends up in the White House.

“We will see repeated all-time highs over the next few quarters. The same pattern played out between the election four years ago and the end of 2020. “Bitcoin doubled, and there were about six 10% corrections, so it's not going to be a straight line,” Siegel said.

According to the expert, Bitcoin is entering the first phase of a strong bullish phase. They also highlighted the incoming government's attitude towards BTC, which is expected to be more favorable, a significant development that could lead to wider adoption and further price increases.

“Our plan is 180 thousand dollars; we think we will be able to reach it next year,” said Siegel, which would be a 1000% return to the current cycle.

More influential people who support crypto as a legitimate asset class support the shift. Additionally, traditional investment behemoths are considering larger allocations, as evidenced by Goldman Sachs' recent announcement of $710 million in bitcoin holdings in several exchange-traded funds (ETFs). His holdings in BlackRock's iBIT fund are up 83 percent since he last bought the product.

Changing public demand and market maturity

While Bitcoin is currently riding a wave of positive momentum, public interest is low compared to its last peak four years ago. Siegel suggests this could lead to a shift in focus, which could mean a mature market or a temporary lull in public enthusiasm.

He believes this period could be a stabilization phase, laying the foundation for more sustained growth for the asset.

According to him, a relatively quiet market offers many advantages, including more prudent investments and slower, more reliable price increases. In addition, it suggests that a mature audience can stabilize, thus helping to reduce the dramatic price swings triggered by speculative increases.