VanEck CEO Jan Van Eck has recently expressed his bullish sentiments towards Bitcoin, citing three commentaries from a podcast called The Compound and Friends. As Bitcoin continues to reach new price highs, enthusiasm among cryptocurrency supporters has grown. The leading digital asset reached an unprecedented high of $81,800 on Sunday, which triggered a wider market surge.
Amidst this upward trend, Jan Van Eck has been attempting to spread further bullish sentiments. In a post on November 10, he shared three quotes from the podcast, explaining that Bitcoin has the potential for further growth from its current levels.
The podcast in question, The Compound and Friends, is hosted by Josh Brown, the CEO of Ritholtz Wealth. Van Eck describes Brown as a significant voice in the Registered Investment Advisors (RIAs) community. Brown emphasizes the bullishness of Bitcoin, stating that it is an asset that every market investor should pay attention to. He predicts that Bitcoin will surpass $100,000 per coin and expects it to reach $110,000 as FOMO (Fear Of Missing Out) sets in.
Brown also highlights the significance of US Treasury speculations on Bitcoin. He argues that if the US government includes Bitcoin in its strategic reserves, it will attract other central banks and drive mainstream adoption.
Jan Van Eck, who previously predicted Bitcoin reaching $300,000, also quotes Katie Stockton, the founder and managing partner of Fairlead Strategies. Stockton appeared as a guest on the podcast, which was sponsored by VanEck. She emphasizes that Bitcoin is an investment vehicle that everyone should consider. Stockton also suggests that institutional adoption will drive Bitcoin’s growth and mentions the potential impact if pensions and state funds start investing in Bitcoin.
During the podcast, co-host Michael Batnick mentions that Bitcoin is on the verge of breaking out from a cup and handle price pattern in the 1-week timeframe. He believes that this breakout will lead to a significant surge in price.
However, Stockton advises caution and suggests waiting for confirmations before entering the market. She also mentions that the combination of bullish fundamentals and technicals in the crypto market could drive Bitcoin to new highs, similar to what happened with gold in its early days.
Currently, Bitcoin is trading at $81,488, representing a 2% increase in the past 24 hours. Its market capitalization has reached $1.6 trillion, accounting for 58% of the overall crypto market valuation.
Please note that this content is informative and should not be considered financial advice. The opinions expressed in this article are the author’s own and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.