Analyst: Bitcoin Currently Faces No Technical Resistance, Could Hit New Highs in the Next Two Quarters

BlockBeats News, November 15th, Matthew Sigel, Director of Digital Asset Research at VanEck Investment Management, stated that the price of Bitcoin's price surge may continue until 2025.

Sigel pointed out that Bitcoin's price surge following President-elect Donald Trump's nomination last week is similar to the rebound seen when Democratic candidate Joe Biden was elected in 2020. Sigel estimates that during this bullish cycle, Bitcoin's price could double, reaching $180,000.

"As we expected, Bitcoin has experienced a sharp upward movement after the election. Now we are in uncharted territory, with no technical resistance, and we believe that in the next two quarters, Bitcoin may continue to hit new all-time highs."

"The same pattern occurred four years ago," Sigel said. "Between the 2020 election and the end of the year, Bitcoin doubled in price. There were about six 10% corrections during that period, so it won't be a straight line, but so far, we have risen by 30%, and many of the indicators we are tracking still show green lights, indicating that this uptrend may continue." (The Block)