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Bitcoin To Hit $180,000 If These Cycle Top Indicators Are Absent, Says VanEck’s Sigel

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Bitcoin To Hit $180,000 If These Cycle Top Indicators Are Absent, Says VanEck’s Sigel - NewsBTC

Quick Summary:

Why $180,000 Per Bitcoin Seems Plausible Sigel explained that Bitcoin tends to outperform nearly every other asset class for three years out of each four-year halving cycle, followed by a deep correction in the fourth year.

When the funding rate for Bitcoin exceeds 10% for more than a couple months, that tends to be a red light,” Sigel warned and explained that recent market activity reset elevated funding rates: "[Last week’s] washout eliminated that as well.

If Bitcoin were to reach a valuation comparable to that half portion of gold’s market cap, Sigel believes the price could trend toward roughly $450,000 per coin over the course of the next cycle.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-17 @ 13:30:38 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 758 words

Reading Time: 5 minutes read

Sentences: 74 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 24507880

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 11 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 10 hours ago

Coverage Areas: United Kingdom

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Publication Timezone: GMT +8:00

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Publisher ID: #102

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