Vaneck's research manager says that the Bitcoin bull market has just started

• Matthew Sigel predicts that the Bitcoin bull market will continue at least two more quarters.
• The institutional interest grows and consultants consider 1–3 % Bitcoin allocations.
• Vaneck strives for Bitcoin at $ 180,000 and predicts an increase of 1,000 % compared to the market deep stalls.

In a current CNBC "Squawk Box" interview Matthew Sigel, Head of Digital Assets Research at Vaneck, predicted that the current Bitcoin rally is located in an early stage.

Bitcoin (BTC) recently exceeded the $ 93,000 mark and recorded a significant increase in 150 %this year before there was a slight correction, and Sigel predicts continued growth for at least two more quarters.

Change of state support and increase in institutional interest

sigel made comparisons with Bitcoin's performance in 2020 when the value of the wealth value doubled between the election and the end of the year.

"We are now on new territory without technical resistance." We assume that we will see new all -time highs in the next two quarters, "said Sigel. He also pointed out that previous rally was corrected of 6 to 10, but the current market indicators monitored by Vaneck still signal strong upward dynamics.

An essential factor for this positive outlook is what Sigel calls "state amendment to state support". He emphasized that key figures of the upcoming Donald Trump government, such as the Vice President, the Attorney General and the National Security Advisor, support Bitcoin.

This shift could strengthen the trust and expansion of the industry together with the expected end of the "regulation through enforcement" by authorities such as the SEC. "We are already seeing economic advantages," noted Sigel and pointed out that crypto projects are planning conferences in the USA and the opening of new offices.

The institutional interest in Bitcoin is also growing. Sigel reported on an increase in inquiries from investment advisors who wanted to invest 1–3 % of their portfolios in Bitcoin, which indicates possible future capital inflows.

Despite the price increase, the mainstream interest has not yet reached earlier highs. "Google searches and the app ranking of Coinbase are still below their historical highs," he emphasized, indicated more space for growth.

Vaneck predicts that Bitcoin could reach $ 180,000

Vaneck has set a price target of $ 180,000 for Bitcoin for this bull cycle, which corresponds to an increase of 1,000 % compared to the market low

sigel came to the conclusion that even at this level the current cycle would be compared to the past, which gives space for continuing optimism.