Donald Trump is set to deliver the keynote speech at the Bitcoin Conference 2024 in Nashville, Tennessee. He may advocate for the U.S. to adopt Bitcoin as a strategic reserve asset. Analysts believe that this pro-crypto stance could help Bitcoin reach a new high of $73,777.
As Donald Trump gears up to speak at the Bitcoin Conference 2024 in Nashville, excitement is high. This is the first time a U.S. presidential candidate has addressed the conference. With Bitcoin recovering from recent losses, investors are keen to hear Trump’s remarks.
Trump’s Bitcoin Conference 2024 Speech: Key Points and Speculations
As a U.S. presidential candidate, Donald Trump has gained substantial support from the crypto community, raising over $6 million through crypto-related Political Action Committees (PACs) and donors. His pro-crypto stance has made him a prominent figure in the cryptocurrency space.
There is speculation that Trump may use his speech at the Bitcoin Conference 2024 to advocate for the U.S. government to adopt Bitcoin as a “strategic reserve” asset, akin to foreign currencies or oil. Previously, Trump has also shown interest in promoting Bitcoin mining in America, a topic he might revisit during his address.
In addition to these points, Trump could seize the opportunity to criticize Vice President Kamala Harris, his likely opponent, for declining an invitation to the conference.
Trump’s Speech Influences Bitcoin Market: What to Expect
Donald Trump’s upcoming speech has already impacted the Bitcoin market, with BTC trading positively at around $68,818. Analysts at QCP Capital have observed a “Trump effect” on Bitcoin, noting a significant increase in options market volume as investors anticipate further gains.
Currently, Bitcoin is on an upward trend, creating higher highs and higher lows after a correction in July. Analysts suggest that Bitcoin could potentially extend its gains by 5.52%, targeting a price of $71,997, which is close to the $72,000 mark.
However, Bitcoin might encounter some resistance at around $69,582 and $70,117. If the upward momentum continues, Bitcoin could approach its all-time high of $73,777.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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