Bitcoin’s meteoric rise shows no signs of slowing. After climbing nearly 30% since November 5, the cryptocurrency hit a peak of $93,490 on November 13, per TradingView. Matthew Sigel, VanEck’s head of digital assets research, is confident this is just the beginning. Speaking to CNBC’s Squawk Box, he described Bitcoin as being in “blue sky territory,” with no technical resistance ahead and a potential for repeated all-time highs in the coming months.
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Institutional Interest Fuels Bitcoin Momentum
Sigel highlighted an increase in inquiries from investment advisers eager to add Bitcoin to their portfolios. “The flows are going to follow,” he said, comparing this rally to 2020’s post-election surge when Bitcoin doubled in value between Election Day and year-end. VanEck predicts Bitcoin could hit $180,000 in 2025, marking a 1,000% return from the cycle’s bottom to its peak.
Surge in “Bitcoin” Searches Signals Growing Interest
Search trends and app rankings showcase Bitcoin’s growing popularity. Google searches for “Bitcoin” have nearly tripled since early November, though they remain below May 2021 levels. At the same time, Coinbase (COIN) has climbed to the top of U.S. finance app rankings on both Apple and Google stores, signaling strong retail interest.
With market indicators signaling continued growth, VanEck’s bold forecast of $180,000 reflects a growing belief that Bitcoin’s rally is far from over. As Sigel put it, “It’s just getting started.”
At the time of writing, Bitcoin is sitting at $89,510.10.
