Republican

Donald Trump

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/vaneck-executive-predicts-bitcoins-positive-trend-before-us-presidential-elections/" data-wpel-link="internal" rel="noopener noreferrer nofollow">VanEck Executive Predicts Bitcoin’s Positive Trend Before US Presidential Elections</a> 
Matthew Sigel, head of digital asset research at ETF issuer VanEck, noted that Bitcoin (BTC) is showing a positive trend ahead of the upcoming US presidential elections. At the time of writing, the price of BTC stands at $70,000.
<h2 id="comments-from-vaneck-management">Comments from VanEck Management</h2>
In a recent interview on CNBC’s Squawk Box, Sigel suggested that Bitcoin might prepare for a significant rise due to the potential election victory of Donald Trump on November 5. Trump, the Republican presidential candidate, is clearly more pro-crypto than his Democratic opponent, Vice President Kamala Harris, which increases his importance to <a href="https://en.coin-turk.com/vitalik-buterin-supports-significant-update-in-optimisms-superchainerc20-protocol/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> investors.
<blockquote>
 Matthew Sigel: “Trump is definitely the candidate for <a href="https://en.coin-turk.com/bitcoin-btc-starts-the-day-with-a-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> and Bitcoin, while Vice President Harris hasn’t mentioned it at all, so I doubt she really understands it.”
</blockquote>
Sigel pointed out that Bitcoin has a negative correlation with the US dollar and a positive correlation with the growth of the money supply (M2). He emphasized that the acceleration of money growth could play a significant role in this context.
<blockquote>
 Matthew Sigel: “There’s also some exhaustion among sellers. The German government and the US government have reduced Bitcoin sales by $2 billion in recent months, benefiting from the election.”
</blockquote>
<h2 id="historical-behavior-of-bitcoin">Historical Behavior of Bitcoin</h2>
Sigel indicated that Bitcoin could repeat a pattern observed in 2020, where it entered a phase of low volatility before experiencing a strong rise during the election season.
<blockquote>
 Matthew Sigel: “Our prediction is that Bitcoin may follow the same path for this election. In 2020, we saw precisely the same pattern; Bitcoin lingered with low volatility and then surged with high volume once the winner was announced.”
</blockquote>
Currently, Bitcoin is trading at $70,045. Keeping track of market movements will be crucial for investors.
The post <a href="https://en.coin-turk.com/vaneck-executive-predicts-bitcoins-positive-trend-before-us-presidential-elections/" data-wpel-link="internal" rel="noopener noreferrer nofollow">VanEck Executive Predicts Bitcoin’s Positive Trend Before US Presidential Elections</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

VanEck Executive Predicts Bitcoin’s Positive Trend Before US Presidential Elections

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