đ Analyst says : Bitcoin currently has no technical resistance and may hit new highs in the next two quarters.
đŠŸOn November 15, Matthew Sigel, head of digital asset research at VanEck Investment Management, said that the rise in the price of Bitcoin is likely to continue until 2025.
đŠŸSigel pointed out that the surge in Bitcoin's price after the nomination of President-elect Donald Trump last week was similar to the rebound after the election of Democratic candidate Joe Biden in 2020. Sigel estimates that in this bullish cycle, Bitcoin's price could double to $180,000.
"As we expected, Bitcoin experienced a violent surge in price after the election. We are now in blue sky territory, with no technical resistance, and we believe Bitcoin could set new all-time highs in the next two quarters."
"The same pattern occurred four years ago," Sigel said. "Between the 2020 election and the end of the year, Bitcoin doubled. There were about six 10% adjustments during that time, so it won't be a straight line, but so far we've risen 30%, and many of the indicators we track are still showing green, suggesting this rally may continue." (The Block)
