bullish

Bitcoin

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<p class="is-style-lead">Bitcoin’s price continued its strong bullish trend this week, with many analysts believing that the rally has more room to run.</p> 
<p>Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) was trading at $91,200 on Thursday, Nov. 14, bringing its year-to-date gains to 115%. It has outperformed popular assets like the Dow Jones, Nasdaq 100, and S&amp;P 500 indices.</p> 
<p>In a CNBC interview, Matthew Sigel, the head of digital assets at VanEck, said that the Bitcoin price rally had more room to run.&nbsp;</p> 
<p>He expects that the coin will make repeated all-time highs in the next few quarters now that the US election has ended. Donald Trump, who is the first<a href="https://crypto.news/5-cryptos-to-buy-after-trumps-win-potential-to-turn-750-into-1-3m-in-the-next-bull-run/" target="_blank"> pro-crypto president</a>, has already appointed several similar officials, including Matt Gaetz, JD Vance, Vivek Ramaswany, Elon Musk, and Tulsi Gabbard.</p> 
<p>Moreover, some newly elected officials in the House of Representatives have made pro-crypto statements. Sigel also noted that several top indicators his firm tracks were still flashing green. He predicts Bitcoin’s price could rise to $180,000, almost double its current trading value.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="Bitcoin rally is just getting started, says VanEck's Matthew Sigel" width="1020" height="574" src="https://www.youtube.com/embed/ZDHcgbzIS40?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
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<p>Polymarket is also highly bullish on Bitcoin. A poll with over 724,000 in assets indicates that BTC has a 56% chance of hitting $100,000 this month.</p> 
<p>Still, not everyone is bullish on Bitcoin. In an <a href="https://x.com/ali_charts/status/1857026244442837398" target="_blank" rel="nofollow">X post</a>, Ali, who has over 81,000 followers, predicts that the coin could see a short-term pullback. He attributed this to the TD Sequential indicator, which has a sell signal on the daily chart.</p> 
<p>Similarly, Ki Young Ju, the founder of CryptoQuant, warned that the perpetual market was overleveraged, which could lead to a sharp retracement.</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a>-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. <a rel="nofollow" href="https://t.co/MZUbedCuyM" target="_blank">pic.twitter.com/MZUbedCuyM</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1856658433446973890?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 13, 2024</a>
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<h2 class="wp-block-heading" id="bitcoin-price-rally-has-room-to-go-on">Bitcoin price rally has room to go on</h2> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/11/Bitcoin-Price-2.png" alt="Bitcoin price" class="wp-image-14310591">
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  Bitcoin price chart | Source: <a rel="" href="https://crypto.news/price/bitcoin/">crypto.news</a>
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<p>The daily chart suggests more Bitcoin upside in the near term. It has already crossed the important resistance level at $73,777, the previous all-time high, and the neckline of the inverse head and shoulders pattern.</p> 
<p>Bitcoin has formed a golden cross pattern, which often leads to substantial gains. Most notably, the MVRV indicator has risen to 2.7. Sell signals are usually triggered when the MVRV indicator jumps to 3.5.</p> 
<p>Therefore, the path of least resistance for Bitcoin’s price is higher, with the next target being $100,000. This outlook will become invalid if the price falls below the support at $85,000.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/five-altcoins-positioned-to-deliver-12000-returns-by-q1-2025/"> Five altcoins positioned to deliver 12,000% returns by Q1 2025 </a> </p>

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

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