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  • Head of research at VanEck predicts Bitcoin bull run is just getting started

    Head of research at VanEck predicts Bitcoin bull run is just getting started

    Head of research at VanEck predicts Bitcoin bull run is just getting started
    • Matthew Sigel predicts Bitcoin’s bull run will continue for at least two more quarters.
    • Institutional interest is growing, with advisors considering 1-3% Bitcoin allocations.
    • VanEck targets Bitcoin at $180,000, forecasting a 1,000% rise from market lows.

    In a recent CNBC “Squawk Box” interview, Matthew Sigel, Head of Digital Assets Research at VanEck, forecasted that the current Bitcoin rally is in its early phases.

    Bitcoin (BTC) recently surpassed $93,000, marking a substantial 150% gain this year before experiencing a slight correction and Sigel is forecasting continued growth for at least two more quarters.

    Change in government support and surge in institutional interest

    Sigel drew comparisons to Bitcoin’s performance in 2020 when the asset doubled in value between the election and the end of the year.

    “We’re now in uncharted territory with no technical resistance. We anticipate seeing new all-time highs over the next two quarters,” Sigel said. He also noted that while previous rallies included 6-10 corrections, current market indicators monitored by VanEck still signal strong upward momentum.

    A significant factor behind this positive outlook is what Sigel describes as a “state change in government support.” He highlighted that key figures in the upcoming Donald Trump administration, such as the Vice President, Attorney General, and National Security Advisor, are supportive of Bitcoin.

    This shift, along with the expected end of “regulation by enforcement” from agencies like the SEC, could boost industry confidence and expansion. “We’re already witnessing economic benefits,” Sigel remarked, noting that crypto projects are planning US-based conferences and new office openings.

    Institutional interest in Bitcoin is also growing. Sigel reported an increase in inquiries from investment advisors aiming to allocate 1-3% of their portfolios to Bitcoin, signalling potential future inflows of capital.

    Despite the price surge, mainstream interest has not yet reached previous peak levels. “Google searches and Coinbase’s app ranking are still below their historic highs,” he pointed out, suggesting more room for growth.

    VanEck projects Bitcoin could hit $180,000

    VanEck has set a price target of $180,000 for Bitcoin in this bull cycle, representing a 1,000% increase from the market bottom.

    Sigel concluded that, even at this level, the current cycle would be the smallest in comparison to past ones, leaving space for continued optimism.

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  • Head of research at VanEck says Bitcoin bull run is just getting started

    Head of research at VanEck says Bitcoin bull run is just getting started

    Head of research at VanEck predicts Bitcoin bull run is just getting started
    • Matthew Sigel predicts Bitcoin’s bull run will continue for at least two more quarters.
    • Institutional interest is growing, with advisors considering 1-3% Bitcoin allocations.
    • VanEck targets Bitcoin at $180,000, forecasting a 1,000% rise from market lows.

    In a recent CNBC “Squawk Box” interview, Matthew Sigel, Head of Digital Assets Research at VanEck, forecasted that the current Bitcoin rally is in its early phases.

    Bitcoin (BTC) recently surpassed $93,000, marking a substantial 150% gain this year before experiencing a slight correction and Sigel is forecasting continued growth for at least two more quarters.

    Change in government support and surge in institutional interest

    Sigel drew comparisons to Bitcoin’s performance in 2020 when the asset doubled in value between the election and the end of the year.

    “We’re now in uncharted territory with no technical resistance. We anticipate seeing new all-time highs over the next two quarters,” Sigel said. He also noted that while previous rallies included 6-10 corrections, current market indicators monitored by VanEck still signal strong upward momentum.

    A significant factor behind this positive outlook is what Sigel describes as a “state change in government support.” He highlighted that key figures in the upcoming Donald Trump administration, such as the Vice President, Attorney General, and National Security Advisor, are supportive of Bitcoin.

    This shift, along with the expected end of “regulation by enforcement” from agencies like the SEC, could boost industry confidence and expansion. “We’re already witnessing economic benefits,” Sigel remarked, noting that crypto projects are planning US-based conferences and new office openings.

    Institutional interest in Bitcoin is also growing. Sigel reported an increase in inquiries from investment advisors aiming to allocate 1-3% of their portfolios to Bitcoin, signalling potential future inflows of capital.

    Despite the price surge, mainstream interest has not yet reached previous peak levels. “Google searches and Coinbase’s app ranking are still below their historic highs,” he pointed out, suggesting more room for growth.

    VanEck projects Bitcoin could hit $180,000

    VanEck has set a price target of $180,000 for Bitcoin in this bull cycle, representing a 1,000% increase from the market bottom.

    Sigel concluded that, even at this level, the current cycle would be the smallest in comparison to past ones, leaving space for continued optimism.

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  • Bitwise and VanEck to donate 10% ETF profits following SEC’s spot Bitcoin ETFs approval

    Bitwise and VanEck to donate 10% ETF profits following SEC’s spot Bitcoin ETFs approval

    • SEC approves spot Bitcoin ETFs: A historic moment for mainstream crypto integration.
    • Bitwise and VanEck donate 10% ETF profits to Bitcoin development: Philanthropy meets finance.
    • Meme Moguls emerges as the world’s first meme-backed stock market, aiming for 100x growth.

    After the US Securities and Exchanges Commission’s (SEC) spot Bitocin approval, Bitwise, a major asset management player, has declared its intention to donate 10% of the profits from its recently approved Bitcoin ETF, BITB, to the development of Bitcoin’s open-source ecosystem.

    Bitwise stated that its Bitcoin ETF $BITB would begin trading on 1/112024 with a 0% fee through 7/10/24 (on the fund’s first $1B in assets; 0.20% after).

    This philanthropic move follows a similar commitment from VanEck, adding a new dimension to the intersection of traditional finance and cryptocurrency. Meanwhile, the emergence of Meme Moguls, a crypto platform integrating memes with trading, promises a unique venture in the crypto space.

    SEC approves spot Bitcoin ETFs

    In a historic move, the US Securities and Exchange Commission approved spot Bitcoin ETFs, marking a monumental moment in the financial world. This approval opens the floodgates for investors to directly participate in the cryptocurrency market through exchange-traded funds, providing a more regulated and accessible avenue for BTC investment.

    This decision triggered a surge in Bitcoin prices, briefly touching the $47,000 mark. Analysts anticipate increased capital inflow into the cryptocurrency space as investors, both institutional and retail, explore these newly approved financial products.

    As the market speculates on potential pullbacks, the SEC’s endorsement signifies a growing acceptance and integration of cryptocurrencies into mainstream financial instruments.

    Bitwise and VanEck 10% profit donation for Bitcoin development

    Bitwise’s commitment to donating 10% of BITB profits to Bitcoin development echoes a similar initiative by VanEck, another prominent financial institution. Both companies pledge to direct a percentage of their ETF profits to support the open-source development of Bitcoin, showcasing a shared vision for the cryptocurrency’s sustained growth.

    Bitwise, having filed for a spot Bitcoin ETF five years ago, sees the recent approval as a significant milestone. The company envisions BITB as the ETF best suited for the evolving crypto landscape, and this philanthropic endeavour aligns with its dedication to fostering a robust Bitcoin ecosystem.

    These donations will benefit organizations such as Brink, OpenSats, and the Human Rights Foundation, emphasizing a commitment to diverse causes within the Bitcoin community. Importantly, these contributions come with no strings attached, ensuring a transparent and altruistic approach to supporting the foundational aspects of the Bitcoin network.

    Meme Moguls: where to trade memes

    On another front, Meme Moguls introduces a novel concept by merging memes with a trading ecosystem. Positioned as the world’s first meme-backed stock market, Meme Moguls aims to leverage the power of memes for financial gains. The platform offers diverse meme-inspired assets, a trading platform, a fantasy trader game, a casino, and a metaverse world known as Mogul Land.

    Participants can accumulate $MGLS tokens by engaging with the platform, staking tokens, and actively trading meme-inspired assets. With a focus on becoming the next 100x token, Meme Moguls aims to create millionaires within the first three months of launch. The ecosystem’s tokenomics, with 60% allocated to the presale, indicates a strategic approach to fueling the platform’s growth.

    Is Meme Moguls (MGLS) a good investment?

    As the cryptocurrency market continues to witness innovative ventures, potential investors may ponder whether Meme Moguls (MGLS) is a worthy addition to their portfolios especially now that the US SEC has approved spot Bitcoin ETFs for trading.

    The platform’s unique features, including a fantasy trader game, a casino, and the promise of creating millionaires, contribute to its appeal. However, as with any investment, individuals are advised to conduct thorough research, considering the inherent risks associated with the cryptocurrency market.

    To invest in the Meme Moguls (MGLS) token, you can visit the official website where the token’s presale is currently ongoing. The presale is currently in its fourth stage and the $MGLS token is going for   $0.0027.

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