Bitcoin Expected to Reach All-Time High Following Donald Trump’s Speech at Bitcoin Conference in 2024
Excitement is mounting in the crypto world as former President Donald Trump gets ready to deliver the keynote speech at the Bitcoin Conference 2024 in Nashville, Tennessee. This historic moment marks the first time a U.S. presidential candidate will address the Bitcoin Conference 2024.
Investors are eagerly anticipating what former U.S. President Donald Trump will say at the Bitcoin 2024 conference, especially as Bitcoin Price recovers from recent losses.
Bitcoin Conference Speech 2024
Known for his pro-crypto stance, U.S. presidential candidate Donald Trump has gained significant support from the crypto community, raising over $6 million from crypto-related Political Action Committees (PACs) and donors.
There is speculation that Trump might advocate for the U.S. government to adopt Bitcoin as a “strategic reserve” asset, similar to foreign currencies or oil. He has previously expressed a desire for Bitcoin (BTC) to be mined in America, which could be a topic of discussion during his speech.
Moreover, he could seize the opportunity to criticize Vice President Kamala Harris, his likely opponent, for turning down an invitation to the conference.
Bitcoin’s Path To $73,777
Trump’s upcoming speech has already impacted the Bitcoin market, with BTC trading in the green and the price hovering around $68,818. Analysts at QCP Capital have noted the “Trump effect” on Bitcoin, with the options market showing doubled realized volume as investors anticipate further gains.
Despite a correction earlier in July, Bitcoin is currently on an upward trend, forming higher highs and higher lows. Analysts suggest that Bitcoin could potentially extend its gains by 5.52%, aiming for a target of $71,997, just below the $72,000 mark.
However, there may be obstacles at price points around $69,582 and $70,117. If the upward trend continues, Bitcoin could approach its record high of $73,777.
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