$100K Bitcoin Is Just the Beginning, VanEck Predicts $180K Target
Key Takeaways
- Bitcoin hits a new milestone with an all-time high of $99,850, edging closer to the $100K mark amid bullish sentiment.
- VanEck maintains its $180K cycle target for Bitcoin, citing parallels to previous post-election rallies and favorable regulatory shifts.
- Pro-crypto developments in the U.S., led by Trumps election victory, signal a transformative phase for Bitcoin adoption and policy.
Bitcoin has reached an all-time high of $99,850, with market participants eagerly anticipating the next breakthrough to $100K. This unprecedented milestone comes amidst rising institutional interest and favorable macroeconomic conditions, according to Santiment.
According to VanEcks latest report, the ongoing rally mirrors BTCs historical bull cycles, particularly the post-election surge of 2020, when prices more than doubled in a matter of months.
With no technical resistance ahead, the report underlines, this rally might only just be getting started. The perfect mix of renewed investor interest, lofty on-chain activity, and a greater number of calls for a BTC Strategic Reserve has created the perfect storm of bullish sentiment. The pro-crypto incoming U.S. administration amplifies this optimism, with policy reforms likely to spur unprecedented adoption.
Regulatory Shifts Fuel Bitcoin Momentum
In the meantime, the U.S. political landscape has some pro-crypto flavor with the victory of Trump, and this may be a potential tailwind for BTC. Among the campaign promises of Trump are the establishment of a national Bitcoin reserve and reforming regulatory regimes to promote innovation. Appropriately, market sentiments have responded, with dominance rising to 59%, the highest since 2021.
However, the legislation would further support state-chartered banks issuing stablecoins independently of Federal Reserve approval, making the U.S. a first mover on financial innovation. Energy deregulation might place Bitcoin mining on a par with larger priorities for the U.S., thus offering another leg up in blockchain competitiveness.
VanEck Reaffirms $180K Bitcoin Target
VanEck is maintaining $180K as the cycle price target for Bitcoin, taking into account a friendly regulatory regime, institutional interest, and strong on-chain metrics. However, one must exercise caution since the first signs of overheating have just started to manifest themselves in funding rates and unrealized profit levels.
Historical evidence would suggest that momentum is likely to continue on the upside, but long-term performance could very well be watered down as maturity in the market is reached. For the present, it is indicative of a strong investor confidence in the rally, and it is broader recognition of Bitcoins role in shaping the future of finance.
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Read more: https://www.tronweekly.com/100k-bitcoin-is-just-the-beginning/
Text source: TronWeekly
