Donald Trump’s upcoming speech at the Bitcoin 2024 Conference could affect Bitcoin’s price, and an Ethereum ETF launching on July 23 might boost Ether’s value. Rumors that Michael Dell might also appear at the conference could further impact Bitcoin.
Bitcoin has risen nearly 20% this month, reaching around $67,286, partly due to expectations that Trump’s involvement will drive the price higher. Veteran trader Doctor Profit thinks Bitcoin could hit new all-time highs this week, making it important to watch these upcoming events.
Key Events to Watch for Bitcoin and Ethereum This Week
This week is pivotal for Bitcoin, with former President Donald Trump scheduled to speak at the Bitcoin 2024 Conference in Nashville on July 27. Doctor Profit predicts that Trump’s speech could significantly impact Bitcoin’s price. Additionally, Trump may discuss integrating crypto with AI, and his vice-presidential pick, JD Vance, a known crypto supporter, could influence better regulations for digital assets.
President Biden’s surprising decision to withdraw from the 2024 presidential race could also benefit the crypto market. Analysts believe this political shift might positively affect Bitcoin and other cryptocurrencies in the coming months.
Furthermore, the Ethereum ETF is set to begin trading on Tuesday, July 23. Bitwise Chief Investment Officer Matt Hougan expects the new ETF could drive Ether’s price above $5,000 by the end of 2024, representing a 40% increase from its current price of $3,511.
Potential Impact of Upcoming Bitcoin Conference Speakers
Doctor Profit compares Donald Trump’s upcoming speech at the Bitcoin 2024 Conference to Elon Musk’s speech at a Bitcoin event in 2021. Musk’s speech initially caused Bitcoin’s price to drop, but it later surged from $29,000 to $69,000. Profit suggests that, similarly, Bitcoin is more likely to rise following Trump’s speech rather than fall.
There are also rumors that Elon Musk might attend the conference, although Michael Dell might make a surprise appearance. With a net worth ten times greater than Michael Saylor’s, Dell could potentially have a more significant impact on Bitcoin’s price than Saylor.
Doctor Profit Predicts Bitcoin’s New All-Time High
Doctor Profit’s recent predictions for Bitcoin have been spot-on, including its rise from $54,000 to $60,000 and then to $66,000. Now, he is forecasting that Bitcoin is on the verge of hitting a new all-time high.
This forecast aligns with a recent shift in the Fear and Greed Index, which has moved from extreme fear to greed. This change suggests that Bitcoin might be ready for a significant increase, presenting a potential buying opportunity for investors.
Important:Â 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.
Â
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
