VanEck Announces New Peak Price Target for Bitcoin! Evaluated Dominance and Altcoin Rally!

Asset manager VanEck as next phase of bull market gains momentum Bitcoin He predicted a cycle price target of $180,000 per head.

In its latest Bitcoin ChainCheck report, VanEck highlighted parallels between the current market and the post-election rally in 2020, citing increased regulatory sentiment under President-elect Donald Trump as a critical driver of Bitcoin’s upward trajectory.

VanEck noted that the Bitcoin price rose 9% on election night, reaching an all-time high of $75,000. This increase was tied to Polymarket rates supporting Trump’s victory and marked the beginning of a high-volatility rally. The asset manager believes the lack of technical price resistance positions Bitcoin for significant growth similar to the 2020-2021 cycle, when Bitcoin’s price more than doubled in the months following the US election.

“Investor interest is rapidly increasing as there is a transformational shift in government support for Bitcoin. “We are receiving calls at an accelerating rate as many investors find themselves under-allocated to this asset class,” VanEck said, reiterating its $180,000 price target.

VanEck says Trump’s pro-crypto platform is a turning point in US regulatory policy and supportive measures crypto para He stated that it is expected to stimulate growth in the sector. Important developments expected under Trump’s administration are as follows:

• FIT21 Remastered: The controversial crypto legislation is expected to be revised to include market and privacy-friendly terms.
• Reformu Stablecoins: A new draft would allow state-owned banks to issue stablecoins without Federal Reserve approval, facilitating broader global adoption of assets pegged to the US dollar.
• Ending SEC Enforcement Regulation: Trump has promised to replace SEC Chairman Gary Gensler and appoint crypto-friendly regulators. This move is expected to encourage initiatives such as crypto custody solutions by banks and the approval of Ethereum (ETH) and Solana (SOL) ETFs.

VanEck stated that regulatory clarity and energy deregulation could support the US’s leadership in Bitcoin mining, artificial intelligence and clean energy. “Trump acknowledged the shared energy-intensive nature of Bitcoin mining and artificial intelligence and signaled potential energy deregulation to support these industries,” the report said.

VanEck also touched on the geopolitical dimension of Bitcoin and stablecoins, particularly their potential to strengthen the global influence of the US dollar. With countries like BRICS exploring Bitcoin as a tool to get around US sanctions, VanEck argues that easing stablecoin regulations could enable the US to benefit from the rapid adoption of crypto in emerging markets where demand for financial services and decentralized finance (DeFi) is growing.

Bitcoin dominance, a measure of Bitcoin’s market cap relative to the entire cryptocurrency market, rose to 59%, the highest level since March 2021. While dominance is expected to peak soon, VanEck predicts that Trump’s pro-crypto stance will drive growth in DeFi and altcoins by attracting institutional capital across the entire crypto ecosystem.

*This is not investment advice.