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    VanEck predicts Bitcoin will soar to $180,000 next year following post-election surge

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    VanEck, an investment company, predicts Bitcoin will reach $180,000 next year. The cryptocurrency has increased in value by approximately 30% since the US elections. However, despite the surge, interest in Bitcoin is reportedly not as high as it was four years ago, with Google searches and app rankings lower than previous peaks. VanEck’s forecast is based on the pattern observed after the 2020 elections, where Bitcoin’s value doubled from election day to the year’s end. VanEck also mentioned a significant increase in queries from financial advisors interested in Bitcoin.

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    Bitcoin’s been smashing records since the US elections, and the big wigs at investment company, VanEck, reckon it’s going to hit a whopping $180,000 next year. Matthew Sigel, the head honcho of digital stuff at VanEck, chatted on CNBC’s “Squawk Box” on Nov. 14, and said Bitcoin’s just getting warmed up. He also reported Bitcoin’s brewed up about 30% more value since Nov. 5, leading the whole crypto world in a rally right after Donald Trump was elected president. Its current high score was a hair below $93,490 on Nov. 13 according to TradingView, but as of Nov. 15, it’s cooled down a tad and is trading around $88,100.

    Matthew shared that lots of financial advisors are hitting him up either wanting to get into Bitcoin or bulk up their crypto stash. VanEck was expecting this after-election surge, and it’s following the pattern that happened after the 2020 elections, where Bitcoin’s value doubled between voting day and the end of the year. Matthew stated, “Our target is $180,000. We think we could reach that next year.” He also claimed that a bunch of their signposts are still glowing green for this rally to continue.

    However, it’s not all shiny and gold. The number of Google searches for “Bitcoin”, along with its app ranking in the Apple and Google app stores, are not as high as they were four years ago. Google Trends data shows searches for “Bitcoin” hit a peak in May 2021 but started to triple around the start of November. For now, Coinbase holds the top spot for finance apps in the US Apple App Store and is in 16th place overall, not too shabby! On Google Play, it’s fifth in terms of finance apps and 66th overall according to Appfigures.

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