Opinion: Bitcoin could revisit its all-time high within the next 12 months, and the trend of central bank reserves is driving its globalization

Odaily Planet Daily News VanEck's Head of Digital Assets Research, Matthew Sigel, stated that he expects Bitcoin to revisit its all-time high within the next 12 months. This is because the current correlation between BTC and the Nasdaq index is near a five-year high, and the resilience of the US stock market provides support for this rebound. However, the derivatives market has not yet shown significant optimism; futures and options trading mostly reflects short covering and hedging demand. From a contrarian perspective, the Bitcoin rally may still have room to continue.

Matthew Sigel also said that a central bank has announced the inclusion of Bitcoin in its foreign exchange reserves this year, meaning BTC is gradually evolving into a global asset suitable for large-scale cross-border settlements. This will become a long-term trend. In terms of investment direction, he is more optimistic about the further increase in Bitcoin's market dominance and Bitcoin mining companies that benefit from the trend of AI integration. He believes that mining companies are gradually becoming significant beneficiaries of AI infrastructure. As AI-related business grows, the pressure on mining companies to sell BTC for financing is also decreasing.

Furthermore, Matthew Sigel believes that if the CLARITY Act is ultimately passed, it could rekindle sentiment in the altcoin market. However, at present, most institutional investors remain cautious towards the majority of altcoins due to regulatory and investor protection concerns.