Crypto is hot right now, and one analyst thinks it’s only going to get hotter, regardless of who wins the US election.
Matthew Sigel, head of digital asset research at VanEck, a big name in the crypto world, believes the election will have a big impact on crypto, but it’s good news for Bitcoin either way.
Both candidates are good for Bitcoin
Sigel says both Donald Trump and Kamala Harris are bullish for Bitcoin, even if they have slightly different approaches to crypto. He expects both to keep spending money, which could lead to more “quantitative easing” (QE). This basically means printing more money, and historically, that’s been good for Bitcoin.
Harris could be even better for Bitcoin
If Harris wins, Sigel thinks Bitcoin might actually do even better than the rest of the crypto market. He says her policies could make it harder for other cryptocurrencies to get a foothold in the US, but Bitcoin’s strong reputation and clear legal status could give it an edge.
Trump is good for the whole crypto scene
On the other hand, Sigel thinks another four years of Trump would be good for the whole crypto world. He thinks Trump’s administration is more likely to be friendly to businesses, including crypto.
It’s all about the dollar
No matter who wins, Sigel says the US dollar is likely to get weaker, and that’s good news for Bitcoin. Bitcoin has historically done well when the dollar is weak.
Bitcoin is already soaring
Bitcoin is currently trading at around $63,769, up 1.12% in the past day.
Remember:
This is just one analyst’s opinion. It’s always important to do your own research before investing in anything, especially crypto. /p>
