Bitcoin continues its march to a new all-time high after hitting $79,645 today, November 10. The crypto asset’s latest strong performance is backed by on-chain data, suggesting an increasing demand from US-based traders in recent weeks. And with the US Federal Reserve’s rate reduced by 25 basis points, many market analysts are looking forward to Bitcoin’s continuous rally, at least in the short term.

Jan Van Eck, CEO of VanEck, is one of the prominent analysts betting on the top crypto asset’s rise. According to Van Eck, Bitcoin will top $300k, which is a reasonable estimate. In addition, Van Eck and other market experts have shared the same sentiments, with Fundtrat’s CIO expecting BTC to trade above $100k before the year ends.

Should be at $300,000 per #Bitcoin already, if not for the number of #shorts and #futures it would already be there. While it could hit that by December 2024, definitely $100K by then, probably over $300K by April 2025, $1.5 by 2030 so way over $2.9 by 2050, say $5 Million! https://t.co/2El2pHtn1K

— Cbemerine (@cbemerine) October 21, 2024

Van Eck: $300k A ‘Reasonable Assumption’

Bitcoin’s continuous rise, coupled with the results of the US presidential elections, has captured the attention of market analysts. Last Friday, CNBC invited Van Eck’s CEO to highlight the performance of the top digital asset and to project its next price move. Van Eck speculates that BTC’s price will ultimately top $30k.

BTCUSD trading at $79,730 on the

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Author: Christian Encila