At the peak of the current bull cycle, the price of the second-largest cryptocurrency by market capitalization will exceed $6000, while Solana and Sui will reach $500 and $10, respectively. This forecast was made by VanEck specialists.
“After this peak, we expect a 30% correction in the price of Bitcoin. Meanwhile, altcoins may fall more sharply—up to 60%, due to market consolidation in the summer. However, by autumn, a recovery is likely: major tokens will begin to gain momentum and could return to their historical highs by the end of the year,” company representatives noted.
Analysts predict that the cryptocurrency bull market will reach a “mid-term peak” in the first quarter of 2025, setting a new high in the fourth quarter.
As the market approaches peak levels, experts identified the following characteristic signs:
- consistently high funding rates exceeding 10% for a three-month period;
- excessive unrealized profits, indicating market euphoria;
- on-chain metric MVRV values above 5, indicating strong overheating and extremely speculative sentiment;
- Bitcoin dominance index falling below 40%, suggesting a shift in market participants’ focus to riskier altcoins;
- universal FOMO; a stream of messages from friends unfamiliar with cryptocurrencies—a reliable sign of “speculative mania at the highs.”
At the time of writing, the MVRV Z-Score indicator values are slightly above 3, indicating significant growth potential and a substantial distance from the dangerous “red zone.”
As before, VanEck analysts remain confident that the target price for Bitcoin in the current cycle will reach $180,000.
Previously, Matrixport specialists set $160,000 as the target mark for Bitcoin.