Asset management firm Vaneck has predicted that bitcoin’s price will reach an all-time high on Nov. 9, following a “combative election that saw Donald Trump win 290 electoral votes and regain the presidency, raising optimism that the SEC’s hostile regulatory approach will be dismantled.” Vaneck further predicted that Satoshi Nakamoto could be named Time Magazine’s “Man of the Year” if bitcoin hits $100K by next December.
Bitcoin’s Next All-Time High Prediction
Asset management firm Vaneck has predicted that “bitcoin will make an all-time high” in the fourth quarter of next year. This is one of the firm’s 15 crypto predictions for 2024.
“In the second half of 2024, bitcoin will climb a presidential-sized wall of worry,” Vaneck described. “The percentage of the global population voting in legislative and presidential elections will hit an all-time high above 45% in 2024. This high level of important elections augurs high volatility and the prospect of significant changes. More specifically, we see mounting evidence that voters and courts are rejecting the anti-growth agenda of the Green lobby.” The asset management firm continued:
Thus, after a combative election that saw Donald Trump win 290 electoral votes and regain the presidency, raising optimism that the SEC’s hostile regulatory approach will be dismantled, we think the bitcoin price will reach an all-time high on November 9th, exactly 3 years to the day from its last all-time high.
Vaneck noted that “bitcoin’s breakout in November 2020 also came exactly three years to the day from its November 2017 top.” On Nov. 9, 2021, the price of bitcoin hit $68,892.03.
The asset management firm also made a prediction about bitcoin’s pseudonymous creator, Satoshi Nakamoto, in the event that BTC reaches $100,000 by December next year, stating:
If bitcoin reaches $100K by December, we make a long-shot call that Satoshi Nakamoto will be named Time Magazine’s ‘Man of the Year.’
Recently, former Securities and Exchange Commission (SEC) official John Reed Stark similarly said that if Trump is elected U.S. president, a Republican-appointed SEC chair may “slow down considerably SEC crypto-related enforcement efforts.” He emphasized that the crypto-regulatory tides could shift exponentially after Election Day.
What do you think about Vaneck’s bitcoin price prediction? Let us know in the comments section below.
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