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Investing.com – ETF issuer VanEck, one of the contenders for the launch of a spot Bitcoin ETF in the United States, published its “15 crypto predictions for 2024” a few days ago, announcing in particular new all-time highs for THE .
More precisely, VanEck predicts that “the price of bitcoin will reach a historic high on November 9, exactly 3 years to the day after its last historic peak”, the manager having recalled that “the breakdown in the price of bitcoin in November 2020 also occurred produced three years to the day after its November 2017 summit”.
An illustration summarizing their forecast suggests a target just shy of $160,000.
Analysts have even gone so far as to estimate that “if bitcoin hits $100,000 in December, we believe Satoshi Nakamoto will be named Time Magazine’s Man of the Year.”
As for what will push bitcoin into such a rally, VanEck explained that “the percentage of the global population voting in legislative and presidential elections will reach an all-time high above 45% in 2024.”
However, analysts believe that “this high level of important elections portends high volatility and the prospect of significant changes”, predicting in particular that “voters and the courts will reject the anti-growth agenda of the green lobby”.
They also predict that Donald Trump will win the presidential election, which they say should generate “optimism that the SEC’s hostile regulatory approach will be dismantled.”
In another of its 15 crypto forecasts for 2024, VanEck also predicts that Bitcoin will outperform most major cryptocurrencies until the next halving (scheduled for April 2024), after which it should progress more than Bitcoin, without going as far as ‘to the “flippening” (overtaking of BTC by ETH in terms of capitalization), in particular because “ETH will lose market share compared to other smart contract platforms with a decline in uncertainty on their roadmap of scalability”, citing in particular .