Bitcoin Could Reach $180K In Current Cycle Thanks To Trump Victory, Says VanEck, But Has This Warning For Investors

Global investment manager Van Eck has reiterated its ambitious $180,000 price target for Bitcoin (CRYPTO: BTC), projecting this peak within the current market cycle.

What Happened: VanEck analysts Nathan Frankovitz and Matthe Sigel suggest that favorable regulatory developments in the U.S. and increased institutional interest could propel Bitcoin to this target within 18 months.

The analysts attribute the recent surge in Bitcoin’s price, which touched $99,800 in the last 24 hours, to the election victory of Donald Trump.

The analysts noted that Bitcoin entered a “new phase” on Nov. 11, with perpetual futures contracts’ funding rates surpassing 10%, indicating short- to medium-term momentum.

"This shift points toward stronger short- to medium-term momentum, as historically, elevated funding rates have been linked to higher 30 to 90-day returns, reflecting heightened bullish sentiment and demand."

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Full story available on Benzinga.com