Bitcoin 
$90,606While , has been rising by breaking record after record recently, VanEck Digital Asset Research Head Matthew Sigel said that we are just at the beginning of the rally. Here are Sigel’s statements that give hope to cryptocurrency investors.
New Records Are Expected in the Market
Speaking to CNBC, Sigel stated that the market is currently in a resistance-free zone. According to him, repeating records could be seen in Bitcoin in the next two quarters.
“There was a similar situation four years ago. With the 2020 elections, Bitcoin doubled. There were approximately six 10% corrections during that period. Although this process does not seem to be a straight line, Bitcoin has gained 30% value so far. “Indicator lights are still green and supporting this rise.”
Trading Volume Is Increasing Rapidly
Crypto analysis platform Kaiko points out that there has been a significant increase in trading volume in the last 10 days. This suggests that market participation may indicate a sustainable rally.
“Trade volume has been on the rise since November 5. We are seeing the highest levels since March. “This increase shows that market activity and rally are gaining momentum.”
According to Kaiko’s data, transaction sizes are increasing, especially on corporate exchanges such as LMAX Digital. However, transaction volumes have not yet reached the peak levels at the beginning of the year. Still, the increased interest from large investors is seen as a positive signal.
VanEck predicts that Bitcoin price could reach $180,000 by the end of this cycle. Sigel considers this rise as part of Bitcoin’s maturation process. Additionally, trading volumes of spot Bitcoin ETFs in the US have increased noticeably. More than 5% of the total Bitcoin supply is now held in these funds.
What’s Next for Bitcoin at $88,000?
Bitcoin is currently trading at $88,176. This indicates a 5% correction from the recent peak. Increasing institutional participation and transaction volumes prove that Bitcoin’s rise is sustainable.
According to experts, this increase in market participation gives strong signals that stable growth will continue.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
