Trump’s Bitcoin Convention Speech Could Spark Explosive Rally For Ether, XRP, Cardano, Solana, Shiba Inu ⋆ ZyCrypto
The post Trump’s Bitcoin Convention Speech Could Spark Explosive Rally For Ether, XRP, Cardano, Solana, Shiba Inu ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Former US President Donald Trump is in talks to speak at the Bitcoin 2024 convention in Nashville next month. While this development is bullish, one analyst notes that for BTC to make a parabolic rally, it needs to test $50,000. The king of cryptos is trading at $61,702 after a 3.6% dip in the last 24 hours. Trump’s Bitcoin Convention Speech Could Trigger Gains Trump has come out as pro-crypto in a series of remarks made in recent months. Besides declaring himself “crypto president,” Trump vowed to support the US crypto industry if elected in November. He has also tapped into the crypto craze by accepting donations in Bitcoin, Ether, Solana, Shiba Inu, Cardano, Dogecoin. According to Axios, the former US President wants to spread his pro-crypto message at the Nashville Bitcoin 2024 Convention. The convention will take place between July 25 and 27, around a week after the Republican National Convention. Advertisement   The Bitcoin Convention is one of the biggest events in the crypto industry. Besides Trump, other members of the US political class, including Robert F. Kennedy Jr and Vivek Ramaswamy, are expected to speak. This event could be bullish for Bitcoin as the US crypto industry finally gets the highly-anticipated regulatory recognition. ‘Bitcoin Will Drop to $50K Before A Significant Recovery’ According to 10x Research, Bitcoin formed a “double-top price pattern,” which could trigger a price dip to $50K. “Bitcoin could shift from its current range trading (60,000-70,000) into a topping formation, potentially leading to a steeper decline,” the researcher said. The double-top price pattern is a bearish technical reversal pattern. Traders can use the pattern to anticipate a reduction in price and change their trading strategies. 10X Research also noted that after BTC made this formation, the price could plunge to $50K…
Filed under: News - @ June 25, 2024 11:20 pm