VanEck CEO Jan van Eck, during an interview on CNBC's Power Lunch program, addressed the recent cryptocurrency market sell-off, attributing it to investors positioning for an anticipated bear trend. He emphasized that Bitcoin is likely to perform poorly in 2026, aligning with historical patterns observed after halving events that occur every four years.
Van Eck noted that while VanEck continues to advocate for Bitcoin's inclusion in investment portfolios, price cycles cannot be overlooked. He recalled that since 2017, the firm has treated Bitcoin as a long-term investment vehicle, but 2026 has a high probability of being a negative year based on past cycles.
The CEO pointed out that Bitcoin's price rise in the current cycle has been more limited compared to previous bull periods, which could mean a more restrained decline. He stressed that macro liquidity conditions and on-chain data remain decisive factors in investment decisions.
Van Eck also raised concerns about security and privacy issues within the Bitcoin ecosystem, warning that quantum computing could pose future risks to cryptographic infrastructures. This has led some Bitcoin maximalists to show interest in privacy-focused alternatives like Zcash (ZEC), which offers enhanced privacy features.
He stated, "If the fundamental argument breaks down, we'll move away from Bitcoin, but we don't see that happening right now." Additionally, Bitcoin's price has declined by 13% since early October, coinciding with increased community discussions on privacy and potential asset reallocations.
Historical shifts during periods of foundational risks have often seen movements toward privacy solutions, suggesting that interest in Zcash could drive further advancements in privacy coins and diversification within the cryptocurrency market.
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