VanEck analysts predict bitcoin’s growth to new historical highs after the US election

The international investment company VanEck, which has applied for the listing of an exchange-traded fund (ETF) on ethereum, believes that the upcoming US elections will lead to new highs for bitcoin. This was stated by the head of the company’s digital asset research department.

In a letter to investors published by Matthew Siegel on the social network X, VanEck says that the recent decline in bitcoin and other digital assets reflects «vicious government asset sales.» At the end of last month, the German government began selling off large amounts of confiscated bitcoin and has since continued to steadily withdraw its holdings from circulation.

VanEck also notes that BTC rarely trades below its 200-day moving average for more than six weeks during bull market years, but if the government’s selling continues and more bad news emerges, this rule could be broken.

«However, as inflation continues to slow and the US economy is in the midst of what looks like a soft landing, the long-awaited turn in monetary policy is looking closer. We expect the election to be the catalyst for new all-time highs for BTC as the market prices in another 4 years of deficit spending and a potentially more favorable regulatory backdrop in the US under the Trump administration,» said Matthew Siegel.