Two prominent crypto market voices have outlined bullish but conditional scenarios for Bitcoin’s long-term price trajectory. EGRAG Crypto presented a technical path toward $1 million by April 2029, while VanEck’s head of digital asset research, Matthew Sigel, said Bitcoin could reach $100,000 next year.
EGRAG Crypto’s analysis focuses on Bitcoin’s monthly chart and recurring cycle structure. The analyst said Bitcoin must complete its correction, reclaim the 21-month EMA, and break a major declining resistance structure for the seven-figure target to remain credible. The roadmap includes breakout, correction, EMA test, recovery, and another expansion phase, with similar formations appearing around 2019 and 2022.
The chart measures approximately 31 monthly bars, or 943 days, between the current structure and the April 1, 2029 target area. A move from $77,447 to $1 million would represent roughly 1,191% growth, requiring substantial capital inflows and sustained demand from institutional, corporate, and individual participants. EGRAG cautioned that a monthly decline beneath the 21-month EMA or failure to break declining resistance would weaken the projection.
Meanwhile, Matthew Sigel told CNBC that Bitcoin could reach $100,000 next year. He noted that Bitcoin’s volatility has decreased by approximately 50% compared with four years ago, while rising global public debt and fiscal sustainability concerns support Bitcoin’s value. Sigel added that institutional investors, including investment advisers and sovereign wealth funds, continue to buy Bitcoin.
Despite long-term bullish expectations, Sigel highlighted cautious positioning in Bitcoin derivatives markets. He said demand for put options, which protect against price declines, is higher than demand for call options, reflecting investor focus on hedging against potential fluctuations. Bitcoin has held above the critical $76,000 level this week despite a series of negative developments.
