VanEck: Bitcoin is in the early stages of a bull run, Trump’s election victory will be good for cryptocurrencies
Matthew Sigel, director of digital asset research at VanEck, said the outcome of the Biden-Trump election could have a significant impact on the cryptocurrency industry. Sigel said a Biden defeat would be good for digital assets and their wider adoption.
Bitcoin is currently in the early stages of a bull run, driven by renewed interest in spot Bitcoin ETFs in the U.S. market. Sigel said that VanEck has long recognized the disruptive potential of Bitcoin and pursued a Bitcoin ETF, but the SEC blocked this effort. Although some financial institutions are not considering adding Bitcoin to their regular investment products, Sigel expects that as more companies reconsider Bitcoin, financial advisors' views on the digital asset may change.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Will APT’s price clear $0.87 after Aptos’s launch of Block-STM v2 upgrade?
Sui integrates Alibaba Cloud for AI payments, price eyes $1.40 target
Wall Street sets the midterm election price: Democratic Party factors surge 20%, but the market remains in a "blind zone"
The "Democratic Factor" built by JPMorgan has risen by about 20% since August, while the S&P 500 has only increased by 2.6% over the same period. Prediction platforms show that the probability of Democrats winning both chambers has surged from 23% in August to 64%. Historical data from Goldman Sachs indicates that this probability typically falls by about 5 percentage points on average before Election Day. There is a clear split among institutions: JPMorgan advocates buying on dips, while Bank of America warns that a Democratic sweep could lead to a drop of more than 10% in the stock market.
Crypto prices
More
