Dogecoin Set to Skyrocket if Bitcoin Hits $325K: VanEck's Bold Prediction Unveiled

Here’s Dogecoin Price If Bitcoin Hits $325K and Ethereum $22K as Predicted by VanEck

The Crypto Basic reports that if the predictions made by Matthew Sigel, Head of Digital Asset Research at VanEck, come true, Dogecoin could see a significant price surge. With Bitcoin potentially reaching $325,000 and Ethereum hitting $22,500 according to these forecasts, Dogecoin might exceed the psychological mark of $1. The correlation between Dogecoin's performance with both Bitcoin and Ethereum is strong; data indicates a 97% correlation with Bitcoin over the past month.

If this trend continues and VanEck's projections materialize, applying an average growth rate from these targets suggests that DOGE could trade at approximately $1.82. This would not only set a new all-time high for the memecoin but also elevate its market cap significantly above current levels.

Will Bitcoin Historical ‘Santa Rally’ Push the Price to $120,000 By Christmas Week?

According to BeInCrypto's analysis on historical trends during halving years like 2024, there is speculation about whether Bitcoin will experience another "Santa Rally" leading up to Christmas week. Historically in such years, BTC has shown substantial gains around December due to increased accumulation activities among investors.

This year alone saw an increase of 137%, pushing prices beyond previous highs despite recent retracements below key thresholds like $108k. Analysts remain optimistic about potential further rallies towards or even surpassing the anticipated target near $120k should buying pressures sustain through festive periods without succumbing heavily under selling forces before then.

Powell says Fed cannot hold bitcoin, not seeking to change that

A report from Reuters highlights Federal Reserve Chairman Jerome Powell stating unequivocally that while there's growing momentum advocating government-held reserves involving cryptocurrencies including Bitcoins—the Fed itself isn't pursuing any changes allowing them within central bank holdings currently nor planning future shifts either way.

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Article Summary

If Bitcoin reaches $325K and Ethereum hits $22.5K as predicted by VanEck, Dogecoin could potentially trade at around $1.82, setting a new all-time high; meanwhile, historical trends suggest Bitcoin might experience another "Santa Rally," possibly pushing its price to $120K by Christmas week.