We’re seeing Bitcoin hit new highs on a daily basis. But according to VanEck’s head of digital asset research, Matthew Siegel, the crypto party is just getting started. Earlier in an interview with CNBC, Siegel said that markets are currently in blue-sky territory, and without technical resistance, “we’ll likely hit repeat all-time highs over the next two quarters.”

“That would take us to June 2025, and could repeat 2020, when Joe Biden was elected and took office in January 2021.”

“The same patterns were in place four years ago. Bitcoin doubled between the election and the end of the year in 2020. There were about six 10% corrections, so it’s not going to be a straight line, but we’re up 30% so far, and a number of the indicators we track are still flashing green, indicating that this rally is going to continue.”

VanEck even believes that Bitcoin could reach $180,000 by the end of this cycle, which Siegel says would be one of the lowest troughs to peak ever — a sign that BTC is slowly but surely maturing.

The analysts note that cryptocurrency trading volumes have increased significantly over the past 10 days, suggesting that there is more activity in the market, which could lead to a sustained rally.

They also noted an increase in average trade sizes on exchanges such as LMAX Digital, which are primarily used by institutions, suggesting that there is more activity from large traders. However, they added that trade sizes have not yet reached the peaks seen in January.

This comes amid a sharp increase in the volume of US-based Bitcoin Spot exchange-traded funds (ETFs). Collectively, the funds now hold more than 5% of the total Bitcoin supply.

The last few days since Trump’s re-election have been some of the best trading days ever.

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