VanEck Research Director: Bitcoin is expected to reach 3 million dollars by 2050.

Odaily Planet Daily reports that Matthew Sigel, head of digital asset research at VanEck, recently stated that the funding rate for perpetual futures contracts has remained above 10% for more than two months, which "usually indicates excessive speculation in the market." "Just recently, this metric has exceeded 10%, but it has only been a few weeks," he added.

He continued to say that a relative unrealized profit reaching 0.7 or higher indicates that the market is about to decline. "We have just reached a level of 0.6. Generally speaking, forward returns are still quite good, and when we reach a level of 0.7, we might be closer to making the best judgment on ($BTC price predictions)."

Sigel also expressed his expectation that by 2050, the price of Bitcoin will reach 3 million dollars. If President $Trump, upon re-election, fulfills his promise to establish a "strategic reserve" of Bitcoin for the nation, its price could be even higher.

If the U.S. buys 1 million Bitcoins during $Trump's four-year second term, and by 2050, the price of Bitcoin appreciates at an average rate of 25% per year, then the value of each Bitcoin could reach 42 million dollars. However, Sigel pointed out that such a growth rate is unlikely to be achieved and believes that "national adoption of Bitcoin is crucial for pushing Bitcoin towards a multi-million dollar valuation." (DL News)