Analyst: Bitcoin currently has no technical resistance and may hit new highs in the next two quarters

Odaily Planet Daily Report: VanEck's digital asset research chief Matthew Sigel said that the rise in Bitcoin's price may continue until 2025. Sigel pointed out that the surge in Bitcoin's price after the nomination of President-elect Donald Trump last week is similar to the rebound after the election of Democratic candidate Joe Biden in 2020. Sigel estimates that in this bullish cycle, Bitcoin's price may double to $180,000. "As we expected, Bitcoin experienced a violent surge in price after the election. We are now in the blue sky territory with no technical resistance, and we believe that Bitcoin may set new highs in the next two quarters." "The same pattern occurred four years ago," Sigel said. "Between the 2020 election and the end of the year, Bitcoin doubled. There were about six 10% adjustments during that period, so it won't be a straight line, but so far we've risen 30%, and many of the indicators we track are still showing green, indicating that this rally may continue." (The Block)