Renowned American Figure Claims Bitcoin is Back in Bullish Territory Explaining Three Factors Behind the Increase

Renowned American figure predicts Bitcoin’s bullish trend is resurging and outlines three factors contributing to its rise. Matthew Sigel, VanEck’s Head of Digital Assets, explains his expectations for Bitcoin’s ascent. VanEck, having obtained SEC approval for Bitcoin and Ethereum ETFs, surprised the market by applying for an ETF for Solana. Experts regard this application as crucial, with an anticipated approval date in March 2025. Meanwhile, Sigel’s statements on Bitcoin are highly significant. In a recent interview, he highlights three reasons behind his bullish outlook: the recent decline and subsequent recovery, the diminishing volatility, and the magnitude of losses suffered by short-term holders. Sigel observes bullish indicators, such as the low volatility, which is typically a precursor to significant price movements. It is important to note that this article does not serve as investment advice. For those interested in investing in over 300 cryptocurrencies, registering with Binance exchange through the provided link offers a 20% commission discount. Stay up-to-date with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.