{"id":1763,"date":"2024-10-28T16:03:18","date_gmt":"2024-10-28T16:03:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1763"},"modified":"2024-10-28T16:03:18","modified_gmt":"2024-10-28T16:03:18","slug":"bitcoin-looking-at-a-very-bullish-setup-ahead-of-us-election-industry-expert-says","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1763","title":{"rendered":"Bitcoin Looking At A ‘Very Bullish Setup’ Ahead Of US Election, Industry Expert Says"},"content":{"rendered":"
\n

Matthew Sigel<\/strong>, head of digital assets research at VanEck<\/strong>, sees Bitcoin <\/strong>(CRYPTO: BTC<\/a>) on a strong upward path as the U.S. presidential election approaches, bolstered by growing interest and shifting macroeconomic conditions<\/a>.<\/p>\n

What Happened<\/strong>: \u201cOur bet is that this is a very bullish setup for Bitcoin into the election,\u201d Sigel told<\/a> CNBC on Monday, pointing out that factors such as Trump’s increasing popularity<\/a> in prediction markets and renewed optimism in the crypto sector are helping drive demand.<\/p>\n

According to Sigel, Trump’s position as the more pro-crypto candidate<\/a>, compared to Vice President Kamala Harris<\/strong>, is likely fueling confidence among crypto investors.<\/p>\n

Sigel highlighted Bitcoin’s strongest long-term correlations<\/a>: a negative relationship with the U.S. dollar and a positive relationship with money supply growth, which has accelerated recently due to the Federal Reserve’s pivot on interest rates.<\/p>\n

This increase in money supply is contributing to Bitcoin’s upward momentum, along with a “seller’s exhaustion” phase following significant sales by both the German<\/a> and U.S. governments<\/a>.<\/p>\n

Sigel described these government Bitcoin sales, totaling around $2 billion, as “spiteful,” referring to seizures and subsequent sales intended to prevent criminal misuse of the asset. “That has eased, and I think the election is helping,” he …<\/p>\n

Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Matthew Sigel, head of digital assets research at VanEck, sees Bitcoin (CRYPTO: BTC) on a strong upward path as the U.S. presidential election approaches, bolstered by growing interest and shifting macroeconomic conditions. What Happened: \u201cOur bet is that this is a very bullish setup for Bitcoin into the election,\u201d Sigel told CNBC on Monday, pointing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1763","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1763"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1763\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}