Bitcoin price base case for 2025 is $180,000, VanEck’s Sigel predicts

Bitcoin price continued its strong upward trend this week; many analysts believe the rally has more room to move.

Bitcoin (BTC) was trading at $91,200 on Thursday, November 14, and its year-to-date gains have reached 115%. It outperformed popular assets like the Dow Jones, Nasdaq 100 and S&P 500 indexes.

In a CNBC interview, VanEck’s head of digital assets, Matthew Sigel, said the rise in Bitcoin prices has found more room to move.

He expects the coin to hit all-time highs over the next few quarters after the US elections end. Donald Trump, the first pro-cryptocurrency president, has appointed several similar officials, including Matt Gaetz, JD Vance, Vivek Ramaswany, Elon Musk and Tulsi Gabbard.

Moreover, some newly elected officials in the House of Representatives made pro-crypto statements. Sigel also noted that their intact tracks were still flashing green. He predicts that Bitcoin’s price could rise to $180,000, nearly doubling its current transaction value.

Polymarket is also quite optimistic about Bitcoin. A survey of more than 724,000 assets shows BTC has a 56% chance of reaching $100,000 this month.

However, not everyone thinks Bitcoin will rise. Ali, who has over 81,000 followers, predicts in his X post that the coin could see a short-term pullback. He attributed this to the TD Sequential indicator with a sell signal on the daily chart.

Similarly, CryptoQuant founder Ki Young Ju warned that the perpetual market is overleveraged, which could lead to a sharp pullback.

$BTC-USDT perp market is overleveraged—2.7x higher than early this year, hitting an all-time high. I double-checked the data; it's accurate. Stay cautious. pic.twitter.com/MZUbedCuyM

— Ki Young Ju (@ki_young_ju) November 13, 2024

Bitcoin price rally has room to continue on Bitcoin price chart | Source: crypto.news

The daily chart points to further Bitcoin upside in the near term. It has already surpassed the key resistance level at $73,777, the previous all-time high, and the neckline of the inverse head and shoulders formation.

Bitcoin has formed a golden cross pattern that often leads to significant gains. Most importantly, the MVRV indicator increased to 2.7. Sell ​​signals are usually triggered when the MVRV indicator jumps to 3.5.

Therefore, the path of least resistance for Bitcoin price is higher and the next target will be $100,000. This view will become invalid if the price breaks below the $85,000 support.