As former President Donald Trump prepares to deliver the keynote speech at the Bitcoin Conference 2024 in Nashville, Tennessee, excitement is building in the crypto world. However, this historic moment marks the first time a U.S. presidential candidate will address the Bitcoin Conference 2024.
As Bitcoin Price recovers from recent losses, investors are eager to hear what former U.S. President Donald Trump says at the Bitcoin 2024 conference.
As a U.S. presidential candidate Donald Trump, known for his pro-crypto stance, has garnered 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 use this platform to push for the U.S. government to adopt Bitcoin as a “strategic reserve” asset, similar to foreign currencies or oil. Meanwhile, in a previous statement, Trump expressed a desire for Bitcoin (BTC) to be mined in America, a topic he might discuss again during his speech.
Additionally, he could use the opportunity to criticize Vice President Kamala Harris, his likely opponent, for declining an invitation to the conference.
Trump’s upcoming speech has already influenced the Bitcoin market, as BTC trading in green with a price hovering around $68,818. However, analysts at QCP Capital have noted the “Trump effect” on Bitcoin, with the options market showing doubled realized volume as investors expect more gains ahead.
Although, Bitcoin is currently in an upward trend, forming higher highs and higher lows following a correction earlier in July. Perhaps analysts predict that Bitcoin could extend its gains by 5.52%, aiming for a target of $71,997, just shy of the $72,000 mark.
However, it might face some challenges at price points around $69,582 and $70,117. If the rise continues, Bitcoin could approach its record high of $73,777.
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