VanEck Forecasts Bitcoin All-Time High in 12 Months
VanEck CEO Jan van Eck predicts that due to falling US interest rates and Bitcoin’s halving, BTC will reach a new all-time high within a year.
“I expect all-time highs in the next 12 months,” he said in an interview with CNBC Television. The upcoming halving in April is seen as beneficial for Bitcoin.
The veteran fund manager, who oversees about $76.4 billion in assets, stated that there is a correlation between BTC and gold in the sense that both assets are tied to interest rate cycles. With interest rates set to fall, he believes it will drive Bitcoin forward.
“They both peaked in 2021, and both are rallying this year,” he said, emphasizing that Bitcoin has outperformed gold for different reasons.
Bitcoin’s Maturity Is Key
Despite BTC’s 145% surge in a year, VanEck’s CEO believes that significant gains for Bitcoin are still on the horizon.
“It’s growing up,” he said. “It’s like a child that’s growing up.”
Hot Take: Stay Cautious
VanEck’s prediction of an all-time high for Bitcoin may be rooted in sound reasoning, but it’s also important to remember that cryptocurrency investments are high-risk. Only invest funds you are prepared to lose, especially in volatile markets like these. Proceed with caution.
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