The company’s mid-August Chaincheck report surfaced 8 of 12 signals flashing capitulation as of August 18
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Vaneck’s researchers pointed to a potential turning point between September and November, based on past corrections averaging 12.7 months from peak to trough.
Key facts
Sigel reiterated his stance on television this week, telling CNBC he still expects bitcoin to climb to $100,000 next year and that $500,000 by 2029 remains achievable if the current cycle plays out
Bernstein’s own target puts a 2026 year-end price near $150,000 and a cycle peak around $200,000 in 2027, broadly consistent with the $180,000 to $500,000 range Vaneck is working from, even
He first made the case in April, when he told reporters that $100,000 within a year was totally reasonable, a time when bitcoin was trading around $68,510
The firm’s mid-August Chaincheck report found 8 of 12 signals flashing capitulation as of August 18, with all 12 having touched capitulation territory at some point over the prior three months
Summary
Vaneck’s head of digital assets research, Matthew Sigel, says his year-ahead bitcoin target and his 2029 cycle-peak call haven’t moved. Vaneck’s Matthew Sigel maintains a $100,000 bitcoin call for 2027 and a $500,000 target for 2029. Bitcoin is trading near $79,000 on August 21, still well below its all time high. Vaneck’s mid-August Chaincheck found 8 of 12 capitulation signals flashing as of August 18. Sigel reiterated his stance on television this week, telling CNBC he still expects bitcoin to climb to $100,000 next year and that $500,000 by 2029 remains achievable if the current cycle plays out as usual.