Van Eck reissues $180K Bitcoin price target for current market cycle

They predicted that an increasingly friendly regulatory environment in the United States and growing institutional interest could catapult Bitcoin (BTC)  to a price of $180,000 within the next 18 months. 

Like many other market pundits, the analysts credited Trump’s election victory as the primary catalyst for a move that has seen the price of Bitcoin reach as high as $99,800 in the last 24 hours. 

As of the time of publication, Bitcoin is trading for $98,500, a mere 1.5% move away from breaching a record price of $100,000, per TradingView data. 

High funding rates show signs of overheating

The analysts shared that as of Nov. 11, Bitcoin had entered a “new phase” where funding rates on perpetual futures contracts had exceeded 10%.

“This shift points toward stronger short- to medium-term momentum, as historically, elevated funding rates have been linked to higher 30 to 90-day returns, reflecting heightened bullish sentiment and demand,” they said. 

Related: Bitcoin back to $90K next? Traders diverge on BTC price pullback odds

However, they noted that as funding rates remain elevated, the market begins to shift into a phase where investors eyeing longer-term returns — over a one or two-year time span — becomes unfavorable. 

“On average, purchases made on days when funding rates were above 10% began underperforming at the 180-day mark, with this trend becoming even more pronounced over 1-year and 2-year periods.”

Several analysts told Cointelegraph they expect Bitcoin to be trading at a price of $100,000 or “well above” by the end of the year, but current market conditions have seen some analysts say Bitcoin could easily top $100,000within the next week. 

Asia Express: Bitcoin’s $100K push wakes taxman, Vitalik visits real Moo Deng

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