Bitcoin Surges to $81,280, VanEck Forecasts $100,000 by Next Year
Bitcoin's price has been steadily climbing, reaching an all-time high of nearly $81,280 on CoinDesk as of September 19th. This surge comes after recent market fluctuations and regulatory headlines.
A 24-hour volume of $17.87B indicates a significant increase in trading activity, with BTC experiencing a 3.9% gain on the day.
In an interview with CNBC, VanEck's Matthew Sigel expressed his expectation that Bitcoin could reach $100,000 by next year. He cites fiscal worries and institutional buying as key drivers of this prediction, stating that governments are 'over indebted' and policymakers are unlikely to address these issues.
The market's resilience in the face of rate-hike worries and setbacks, such as the Clarity Act, has led some to describe it as 'weathers September storm'. VanEck notes that institutional interest and macro liquidity dynamics are contributing factors, with clients adding exposure to Bitcoin due to these conditions.