Orhan 
World-renowned investment management firm Van Eck has reaffirmed its $180,000 price target for Bitcoin (BTC). In their November 21, 2024, Bitcoin report, the company’s digital asset analysts Nathan Frankovitz and Matthew Sigel emphasized that the cryptocurrency market has entered a new bull phase.
A New Peak for Bitcoin: Is $100,000 Within Reach?
According to the analysts, the improving regulatory environment in the U.S. and the growing interest of institutional investors will play a significant role in helping Bitcoin reach its $180,000 target within the next 18 months.
Bitcoin recently surged to $99,800 in the past 24 hours, approaching its all-time high, and is currently trading at around $98,500. This suggests that Bitcoin is on the verge of breaking the psychological barrier of $100,000.
Van Eck analysts noted that funding rates have surpassed 10% alongside Bitcoin’s rally. While this indicates strong momentum in the short to medium term, they cautioned that it could create a risky environment for investors in the long run.
Historical data shows that during periods when funding rates exceed 10%, Bitcoin tends to yield higher returns over 30 to 90 days. However, purchases made during these periods might lead to decreased returns over 180 days and beyond.
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