One of the largest funds managing tens of billions in capital has given reasons for bitcoin's continued growth next year
After the U.S. presidential election, the bitcoin rate has renewed its historic high, reaching $93 thousand on November 13. Matthew Sigel, head of digital asset research at VanEck Investment Company, expects, as TheBlock writes, that in the next six months, quotes of the main cryptocurrency can reach even higher heights, within $180 thousand.
Since Nov. 5, the day of the U.S. presidential election, bitcoin has grown by about 30%, trading at $88 thousand on Nov. 15, according to Coinmarketcap. And the price peaked on Nov. 13, at around $93 thousand. As Sigel noted, the growth may continue into 2025.
"VanEck is a global investment firm founded in 1955 with $100 billion in assets under management. It is considered one of the pioneers of innovative exchange-traded funds (ETFs), including the first gold ETF. In early January, received approval to launch a bitcoin-based ETF. As of mid-November, they have $17 billion in assets under management in their bitcoin fund."
According Sigel's calculations, the price of Bitcoin could double, rising to $180,000 over the next two quarters, that is, by mid-2025.
“Things are just getting started. As we expected, bitcoin experienced this highly volatile spike after the election. We are now in clear-sky territory where there is no technical resistance. Bitcoin is likely to hit another all-time highs within the next two quarters,” Cointelegraph quoted the expert as saying. The general positive expectations of bitcoin growth do not guarantee that the market will constantly grow. According to Vaneck's observations, in 2020, there were about six price corrections of 10% each in the period after the election and before the end of the year: “The same patterns occurred four years ago, and a number of indicators we track still point to a continued rally.”
Copper.co analysts came to similar conclusions to VanEck about the continued growth of the major cryptocurrency. They believe that the bitcoin price peak of the current bullish period may come in the middle of 2025. The experts' data is based on the duration of previous cycles, although those do not predict the price level, as in the case of VanEck, where they pointed to $180 thousand per bitcoin. Indeed, the previous bitcoin price rally lasted several months after the 2020 election. Then starting on November 6, the price of the first cryptocurrency rose from about $15 thousand to $29 thousand by December 31. And the peak of that cycle was at $63k in April 2021, according to Coinmarketcap.
“Our price target for this cycle is $180k. We think we can hit it next year. That would be a 1000% return from bottom to peak in this cycle,” Siegel elaborated.
Similar calculations on the time of the price peak were given by the analytical cryptocurrency company Cryptorank, which noted it in October 2025. The company also noted a likely scenario for the overall market growth before that time - the onset of the so-called alt-season.
Bitcoin interest
As an example of the indicators that VanEck tracks to determine the health of the cryptocurrency market, Sigel noted the rise in Bitcoin searches via Google search.
The numerical popularity value for the query “bitcoin,” according to Google Trends as of Nov. 15, is 46, which is comparable to peaks in 2020 and 2021. While this is half as high as the all-time high (100) at the end of 2017, the figure has only risen higher twice in the history of the observation (both in 2021, with peaks of 72 and 67).
Sigel also pointed out the rise in downloads of US cryptocurrency exchange app Coinbase, which has returned to the top 10 App Store apps in the US amid the growth of the cryptocurrency market. On Nov. 14, it took ninth place in the ranking of the most downloaded free iPhone apps, up from 435th place, where it was before the election.
And in the “Finance” category of the App Store in the U.S., the Coinbase app took first place. There has been an increase in app downloads from other companies offering cryptoasset trading services as well. Broker Robinhood took the second place in the “Finance” category, and the Crypto.com exchange took the fifth place. On US Google Play (for Android), the Crypto.com app is in second place, Coinbase is in fifth place, and Robinhood is in ninth place.
In previous cycles, as The Block writes, the Coinbase app has been in the top 10 when the cryptocurrency market was nearing its peaks. Based on this, it is assumed that as bitcoin reaches new price highs, there is growing interest from retail traders, the publication explained.
