On August 19, Vaneck investment fund released a comprehensive report on cryptocurrency market trends from mid-July to mid-August, emphasizing that the Bitcoin price target for the end of 2025 remains unchanged at $180,000, despite short-term fluctuations.
According to the report, Bitcoin experienced a strong growth phase when it exceeded $124,000, marking a new historical high. The Bitcoin reference index on the CME exchange also reached its highest point this year, reinforcing analysts' confidence that the price increase trend remains intact.
However, the overall picture is not entirely rosy. Vaneck noted that Bitcoin mining companies are in a "divided" state. Some entities like APLD have recorded good growth, but overall, most US Miners – which account for 31.5% of global computing power – have less favorable business results. This indicates fierce competition and increasing cost pressures in the mining industry.
In the Digital Asset Management Companies (DATS) sector, the modified net asset value (mNAV) has significantly declined. The primary reason stems from prolonged low volatility, limiting capital raising and growth potential during the recent period.
Moving into autumn, Vaneck warns that a large number of unexecuted option positions could cause significant market fluctuations, even when short-term volatility remains low. For DATS, prolonged low volatility may continue to exert pressure, further constraining financial capabilities.
From a macro perspective, the return of investors after the summer break, combined with economic policy moves from the new administration of President Donald Trump, are expected to significantly impact market sentiment. Some analysts believe that tax reduction policies and a more technology-friendly orientation could create a favorable environment for capital inflow into digital assets, especially Bitcoin.
Despite many uncertain factors, Vaneck affirms that they maintain their Bitcoin price target of $180,000 by the end of the year. According to them, the combination of seasonal momentum, macro factors, and institutional investment capital can continue to drive the growth trend in the remaining months of the year.
In this context, many experts also recall similar developments from 2020-2021, when Bitcoin went through a period of significant volatility but ultimately set a new price record due to increasing interest from investment funds and listed companies.
