Bitcoin is expected to approach its all-time highs following the U.S. presidential election and a shift toward a "pro-liquidity environment," according to analysts.
"With all this forced selling behind us, this follows a typical seasonal pattern. Bitcoin tends to struggle for one to three months after the halving, which occurred in April."
This was stated by Matthew Sigel, head of digital assets research at VanEck, in an interview with CNBC on August 19.
Could #Bitcoin mining companies have a huge opportunity in AI?
— CNBC's Fast Money (@CNBCFastMoney) August 19, 2024
VanEck's Matthew Sigel breaks down how these struggling stocks could suddenly fetch a higher valuation: pic.twitter.com/eIxOsAFXbK
In July, the German government sold 49,858 Bitcoin for $2.6 billion, and approximately 70% of creditors of the bankrupt crypto exchange Mt. Gox have been repaid, with many choosing to hold onto their Bitcoin.
Several analysts have noticed a recent surge in global liquidity. BitVaulty CEO Francesco Madonna noted in an August 17 post on X, "Global liquidity has started to increase, a pattern is forming," suggesting that Bitcoin could follow gold's recent rise to surpass its all-time high.
1/3 Global Liquidity has started to increase , a pattern is forming pic.twitter.com/wc7yBEgnMv
— Francesco Madonna (@CiccioMadonna) August 17, 2024
At the time of publication, Bitcoin is trading at $60,431, according to CoinMarketCap.
Investment strategist Lyn Alden stated in an August 19 episode of Natalie Brunell’s Coin Stories podcast that she is “not particularly surprised” by Bitcoin’s current lack of price action, citing flat global liquidity over the past two years. Alden believes that Bitcoin could surpass its all-time high of $73,679 in 2025 when the market transitions to a more "pro-liquidity environment."
I really enjoyed this conversation with @LynAldenContact about fiscal dominance, market volatility, Fed rate cuts, #Bitcoin price, political outcomes, and AI image tools. So much value and insightful observations. Let us know what you think.
— Natalie Brunell (@natbrunell) August 19, 2024
Timecodes:
00:00 Intro and latest on… pic.twitter.com/pvbcapxXN6
Matthew Sigel also highlighted the significance of the upcoming U.S. presidential election, predicting it will be a pivotal moment for Bitcoin’s price. He emphasized that, regardless of the election outcome, the macroeconomic conditions are likely to remain unchanged, leading to continued reckless fiscal policy. “The history is that Bitcoin really hits its stride at that point,” Sigel stated, adding, “We’re buyers here, we really think it can recover.”



