Bitcoin’s major sell-offs are over and now analysts see the US election and global liquidity as the next big drivers for Bitcoin.
Bitcoin will move closer to all-time highs after the United States election and a shift to a “pro-liquidity environment,” according to analysts.
“With all this forced selling behind us, this is a typical seasonal pattern where Bitcoin tends to struggle between one to three months after the halving, which was in April,” VanEck head of digital assets research Matthew Sigel argued in an Aug. 19 interview with CNBC.
In July, the German government sold 49,858 Bitcoin (BTC) for $2.6 billion. Meanwhile, approximately 70% of creditors of the bankrupt crypto exchange Mt. Gox have been repaid, with data showing many have held onto their Bitcoin.
