$BTC
Matthew Sigel, head of digital asset research at VanEck, told CNBC that Bitcoin's price rally could continue until 2025. He mentioned that the smallest trough-to-peak rally in the history of a Bitcoin cycle was 2,000%, and if the half, or 1,000% rally, is reached, the price target for Bitcoin would be $180,000. Siegel believes that this target could be reached next year, which would be a 1,000% return from bottom to top in this cycle.
Their long-term forecast model for Bitcoin shows that if Bitcoin becomes a reserve asset used in global trade and is held by global central banks with a 2% weight, the price target for Bitcoin could be $3 million by 2050. While this prediction sounds extreme, it is based on a compound annual growth rate of 16% over several decades.
Matthew Siegel also noted that Bitcoin tends to respond to changes in political sentiment, especially when candidates who are seen as more supportive of digital assets show an advantage in polls. Recent price action is consistent with rising odds of betting on candidate Trump, who supports cryptocurrencies.