Renowned American Authority Optimistic About Bitcoin’s Future, Cites Three Factors for Potential Rally
The Head of Digital Assets at VanEck, Matthew Sigel, has outlined three compelling reasons for his bullish stance on Bitcoin’s prospects.
In a surprising move, VanEck, which recently obtained SEC approval for spot Bitcoin and Ethereum ETFs, has now sought approval for an ETF related to Solana, a development that experts believe could be pivotal and anticipate approval in March 2025. During this time, Matthew Sigel shared notable insights regarding Bitcoin’s trajectory.
In a recent conversation with Scott Melker, Sigel expressed his optimism for Bitcoin, attributing it to several recent indicators. He highlighted the diminishing magnitude of recent losses and a decline in volatility as compelling reasons for his positive outlook.
“Following the recent downturn, I observed bullish indicators emerge,” said Sigel. “Specifically, the scale of losses experienced by short-term holders. Additionally, Bitcoin’s volatility dropped to 21, marking a 30-day annual VA, a remarkably low figure.”
Analysts generally interpret low volatility in Bitcoin as a precursor to significant price movement, often signaling an impending upswing. Sigel’s observations and analysis do not constitute investment advice.
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