tl;dr
Matthew Sigel, head of digital assets research at VanEck, predicts a significant surge for Bitcoin in the coming months, citing the election as a potential catalyst. He suggests a potential 1,000% rally, reaching around $180,000. Sigel believes that Bitcoin's future is bullish regardless of the elec...
Matthew Sigel, head of digital assets research at VanEck, predicts a significant surge for Bitcoin in the coming months, citing the election as a potential catalyst. He suggests a potential 1,000% rally, reaching around $180,000. Sigel believes that Bitcoin's future is bullish regardless of the election outcome, as both major candidates are likely to maintain or increase fiscal spending, potentially leading to further quantitative easing.
Additionally, he outlines a long-term prediction for Bitcoin, envisioning a $3 million price target by 2050 based on a 16% compound annual growth rate. Currently, Bitcoin is trading at $72,310, up nearly 4% in the past 24 hours.
An analyst from one of the biggest asset managers in crypto thinks Bitcoin (BTC) is primed to surge in the coming months. Matthew Sigel, the head of digital assets research at VanEck, says in a new CNBC interview that the election will serve as a major catalyst for the top crypto asset. “The smallest-ever trough-to-peak rally for a Bitcoin cycle was 2,000%. If we do half of that, that would be 1,000%, that would be roughly $180,000.”
Last month, Sigel argued that it would be bullish for Bitcoin regardless of which party wins. The VanEck executive thinks both major candidates – Vice President Kamala Harris and former President Donald Trump – would likely maintain fiscal spending or increase it, which could lead to further quantitative easing (QE), which has historically been bullish for crypto as an asset class.
In his recent CNBC interview, Sigel also outlines VanEck’s long-term prediction for Bitcoin. “We have a model that assumes that by 2050… Bitcoin becomes a reserve asset that’s used in global trade and held by global central banks at a very modest 2% weight. And in that model, we arrive at a $3 million price target for Bitcoin. Now, that sounds extreme, but that’s a 16% compound annual growth rate for a couple of decades. That’s not really that extreme.” BTC is trading at $72,310 at the time of writing and is up nearly 4% in the past 24 hours.
More about Interlink Electronics Inc
Interlink Electronics Inc Summary Interlink Electronics Inc
Interlink Electronics, Inc. designs, develops, manufactures, and sells force sensing technologies that incorporate proprietary material technology, firmware, and software into standard sensor-based products and custom sensor system solutions. The company is headquartered in Irvine, California.
Industry and Sector
Technology, Computer Peripheral Equipment
Stock Information
Company: Interlink Electronics Inc
Stock Symbol: NEC
Industry Code: 50801000
Opening Price: -0.21
Closing Price: 1.282
Change: -0.128
Volume: 12635000
Day Low: 7
Day High: 21.01
Change Percentage: -0.284
More about United States Steel Corporation
United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: Manufacturing
Sub-Industry: Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Revenue: 8.645 billion
EPS: 16.78
PE Ratio: 0.2
ROE: 2.29%
Market Cap: 7.531 billion
Beta: 0.034
Shares Outstanding: 1.685 billion
Previous Close: 41.87
Change: -0.617
Change (%): -0.178%
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