What's Next for Bitcoin, Which Has Dropped to $88,000? Expert Comments!

While Bitcoin has been rising by breaking record after record recently, VanEck Digital Asset Research President Matthew Sigel said that we are just at the beginning of the rally. Here are Sigel's statements that give hope to cryptocurrency investors.

New Records Expected in the Market

Speaking to CNBC, Sigel said that the market is currently in a resistance-free zone. According to him, Bitcoin could see repeat records in the next two quarters.

“There was a similar situation four years ago. Bitcoin doubled with the 2020 elections. During that period, there were about six 10% corrections. Although this process does not seem like a straight line, Bitcoin has gained 30% so far. The indicator lights are still green and support this rise.”

Trade Volume Is Increasing Rapidly

Crypto analytics platform Kaiko notes a significant increase in trading volume over the past 10 days, suggesting that market participation could signal a sustained rally.

“Trading volume has been on the rise since November 5. We are seeing the highest levels since March. This increase shows that market activity and rally are gaining momentum.”

According to Kaiko data, transaction sizes are increasing, especially on institutional exchanges such as LMAX Digital. However, transaction volumes have not yet reached the peak levels of the beginning of the year. Still, the increasing interest of large investors is seen as a positive signal.

VanEck predicts that the Bitcoin price could reach $180,000 by the end of this cycle. Sigel sees this rise as part of Bitcoin’s maturation process. In addition, the trading volumes of spot Bitcoin ETFs in the US have increased significantly. More than 5% of the total Bitcoin supply is now in these funds.

What's Next for Bitcoin at $88,000?

Bitcoin is currently trading at $88,176, marking a 5% correction from its recent highs. Rising institutional participation and trading volumes are proof that Bitcoin’s rally is sustainable.

According to experts, such increased market participation provides strong signals that stable growth will continue.