In a recent interview on CNBC’s “Squawk Box,” Matthew Sigel, Head of Digital Assets Research at VanEck, predicted that Bitcoin’s current rally is “just getting started” and is expected to continue for at least two more quarters. The BTC price briefly surpassed $93,000 on Wednesday before experiencing a slight pullback, marking an impressive gain of over 150% this year.
VanEck’s Bitcoin Bull Run Prediction
“We think it’s just getting started. As we expected, Bitcoin saw this high volatility pump after the election. We’re now in blue sky territory, no technical resistance. We think we’re likely to make repeated all-time highs over the next two quarters,” Sigel remarked.
The expert drew parallels to Bitcoin’s performance four years ago, noting that between the election and the end of 2020, the digital asset doubled in value. He acknowledged that while “there were about 6-10 corrections,” multiple indicators suggest the current rally will continue. “We’re up 30% so far [since Trump was elected], and a number of indicators that we track are still flashing green,” he added.
A significant factor contributing to this optimistic outlook is a perceived shift in government support for Bitcoin. “This is a state change in terms of government support,” Sigel said, highlighting that key figures in the administration, including the Vice President, Attorney General, Director of Defense, National Security Advisor, and possibly even the Secretary of Treasury, are pro-Bitcoin.
Sigel also pointed out that the anticipated end of “regulation by enforcement” from agencies like the SEC would positively impact the industry. “We’re already seeing the economic impact of that,” he noted. “There are crypto projects that are announcing that they’re going to hold conferences in the US for the first time ever, and open offices in the US and New York. It’s just great for US jobs and GDP.”
Institutional interest in Bitcoin is on the rise as well. Sigel reported an increase in inquiries from investment advisors seeking to initiate or expand their exposure to Bitcoin through spot Bitcoin ETFs. “The number of calls that I’m getting inbound from investment advisors who are at zero and looking to get to 1% or at 1% and looking to get to 3%—these calls are starting to accelerate, and we think the flows are going to follow,” he explained.
Regarding market sentiment indicators, Sigel mentioned that mainstream interest has not yet reached previous highs, suggesting room for further growth. “Google searches are nowhere near where they were four years ago,” he observed. “Coinbase’s rank in the Apple and Android app stores is nowhere near where it was four years ago.”
VanEck has set a price target of $180,000 for Bitcoin in the current bull run, which Sigel believes could be reached next year. “That would be a 1,000% return from the bottom to the peak of this cycle—that’s still the smallest Bitcoin cycle by far,” he stated.
The discussion also touched on potential regulatory changes, including the possible departure of SEC Chair Gary Gensler. While acknowledging that “the disappointment phase will set in one to two quarters after the inauguration,” Sigel suggested that the overall impact of reduced regulatory pressure would be positive. “One is just the positive impact on dynamism when you stop suing people for breaking rules that have never been written down,” he commented.
Sigel also highlighted the broader implications of legitimizing Bitcoin as a reserve asset, which could “pave the way for it to be used as a global settlement currency, as the BRICS countries have been doing.” He also emphasized the potential synergy between Bitcoin and artificial intelligence. “President Trump recognizes the synergies between Bitcoin and AI—they are two sides of the same coin,” he said. “If you want to have cheap AI, you’re going to want to combine it with Bitcoin mining to take advantage of that cheap power.”
At press time, BTC traded at $90,816.
