Following the US elections, the Bitcoin price reached the $100,000 mark. Moreover, expectations are rising as the regulatory environment is changing. Bitcoin dominance has reached 59%, driven by pro-crypto policies and increased institutional interest. On another front, mining activity and crypto stocks are on the rise. Amid these developments, giant asset management company VanEck raised its Bitcoin target.
VanEck’s cycle top target for Bitcoin: $180,000!
Bitcoin’s price pattern is growing as the market enters a phase of the bull cycle. Leading asset management firm VanEck is targeting a price of $180,000 for Bitcoin (BTC). Current political and legislative changes, particularly the outcome of the US presidential election, are generating new investor interest and impacting the crypto market. Bitcoin dominance has risen to 59%, its highest level since March 2021. Institutional investments are also increasing, reiterating the patterns observed in previous bull cycles. This paves the way for significant market activity. In this context, crypto reporter WuBlockchain shared the following post:
The VanEck report believes that the next phase of the bull market has just begun and reiterates the $180,000 cycle price target. It also expects FIT21 to be rewritten in market and privacy-friendly terms. The new stablecoin draft will allow state-affiliated banks to issue stablecoins without the approval of the Federal Reserve.
What awaits the crypto market under the Trump administration?
Following the US election, Bitcoin surged to an all-time high of $89,444 on the Trump administration’s pro-crypto promises. Polymarket data shows that the market reacted positively to Trump’s victory. It also reveals that Bitcoin surged to $75,000 on election night. The president-elect’s campaign promises include reducing regulatory hurdles, reviewing crypto legislation such as FIT21, and allowing state-affiliated banks to issue stablecoins without Federal Reserve approval. Market analysts predict that these policies will foster a crypto-friendly environment. It also predicts that it will increase investor confidence.
As you have been following on Kriptokoin.com, Bitcoin’s dominance underscores its growing influence in the crypto market. It also reflects regulatory clarity and strong investor demand. However, analysts also expect growth in decentralized finance (DeFi) and altcoins under the Trump administration, pointing to the potential for the market to expand in a diversified way.
Mining sector and institutional adoption growth
Meanwhile, Bitcoin mining difficulty increased to 102 terahash. This signaled a more secure network and increased competition among miners. On November 18, miners transferred $181 million worth of BTC to exchanges. This also marks a significant increase. Such movements usually mark market peaks. This activity is consistent with operational growth rather than overvaluation.
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