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Analysts have taken an optimistic approach to Bitcoin. Analysts predict that the sales in question have ended and that the US elections and global liquidity will affect the Bitcoin price upwards in the following period. It is thought that Bitcoin will approach its all-time highs, especially after the US elections.

Matthew Sigel, Head of Digital Asset Research at VanEck, made important statements on this subject.

“With the forced sales behind us, the typical stagnation period that Bitcoin experienced after the halving is coming to an end. We now expect a more positive atmosphere in the coming period.”

As you may recall, the Bitcoin halving took place in April. And in this case, it usually causes a temporary pause in Bitcoin prices. In July, the German government carried out a large Bitcoin sale. The German government, which sold a total of 49,858 Bitcoins for $2.6 billion, created a short-term fluctuation in the cryptocurrency market.

During the same period, approximately 70% of the creditors of the bankrupt Mt. Gox exchange received their repayments in Bitcoin or Bitcoin Cash.

Optimistic expectations for Bitcoin: Increased liquidity and the end of forced sales

In addition to these developments, an increase in global liquidity is also observed. BitVaulty CEO Francesco Madonna stated that global liquidity has started to increase and that this situation will have a positive effect on Bitcoin. Madonna, who said, “Global liquidity has started to increase, a pattern is forming,” emphasized that the increase in liquidity could increase demand for Bitcoin.

As a result, analysts are optimistic that Bitcoin's forced sales period is over and that it could enter a new uptrend. The US elections and the increase in global liquidity are seen as the next big drivers for Bitcoin.