selling<\/a> Bitcoin it confiscated earlier this year and the defunct crypto exchange Mt. Gox settling with creditors. But he says the strong performance of spot Bitcoin exchange-traded funds (ETFs) plus the likelihood of the Fed cutting rates before the year\u2019s end are reasons to still be bullish.<\/p>\n\u201cIt\u2019s like fuel for Bitcoin and gold investors, the Fed easing. So it\u2019s super bullish. Bitcoin got some selling from the German government, there was the Mt. Gox selling \u2013 short-term stuff. But we\u2019ve seen only a 20% correction in the Bitcoin price, and that\u2019s kind of normal in a bull market. At VanEck, we like to say we\u2019re hodling, which is holding on for dear life. So we\u2019re long-term investors, and all the [spot BTC] ETFs pretty much have seen inflows, including last month, when the price was down 10%. So it\u2019s a drip from retail investors.\u201d<\/em><\/p>\nBitcoin is trading for $58,079 at time of writing, up slightly in the last 24 hours.<\/p>\n