Matthew Sigel noted that Bitcoin has shown a similar trend as in previous cycles, especially during presidential elections. According to his forecast, BTC will reach $180,000 by next year. The researcher attributed this to the changing dynamics of the mood of regulators and politicians in the United States. The friendly attitude of President-elect Donald Trump and Vice President JD Vance increases the popularity of Bitcoin, Siegel noted.

Interest in the first cryptocurrency is also growing on the part of investment consultants, who are ready to increase the share of bitcoin in their portfolios — from 1% to 3%. This is also an important factor in supporting the bitcoin rate, believes the top manager of VanEck. In addition to the loyalty of politicians and institutional investors to the cryptocurrency, Siegel noted the stable interest in bitcoin on the Internet, despite the fact that search queries on Google (NASDAQ: GOOGL ) about bitcoin are significantly lower during the period of past peaks.

Siegel also sees increased activity in the Bitcoin futures market, a dynamic the strategist believes will be sustained over the long term. According to Siegel, the BTC market remains in a “price discovery mode” that has historically provided the foundation for a sustained bull run.

VanEck's top manager said that many crypto projects are planning to hold conferences in the US for the first time in many years. Siegel called this a good sign for the US economy, in which Bitcoin can play an important role as an "international currency of exchange." Integrating BTC with artificial intelligence (AI) could prepare the financial system and society for the introduction of Bitcoin, Siegel concluded.

Siegel previously predicted the imminent launch of spot exchange-traded funds (ETFs) tied to the SOL cryptocurrency if the new US administration takes a "pro-crypto" approach.