US Presidential candidate Donald Trump, who has attracted great attention with his pro-Bitcoin and cryptocurrency statements, has a stronger chance of winning. Because US President Joe Biden announced that he withdrew his candidacy.
At this point, while expectations are increasing that Trump will give BTC a larger place in the financial system, speculations that Trump's BTC move will lead to a parabolic rise in price are also increasing.
Donald Trump's impending appearance at the Bitcoin conference in Nashville and his claims that BTC could be considered a reserve asset have investors expecting extreme or unusual price movements in Bitcoin.
Speaking to Coindesk, Greg Magadini, derivatives director at Amberdata, stated that there may be significant price movements in Bitcoin this week.
“This week we will hear Trump speak at the Nashville Bitcoin conference.
As long as Trump continues to be a pioneer on Bitcoin and crypto, Trump will be a potential catalyst for something to happen with BTC this week.
“Derivatives markets also seem to agree on Bitcoin and Trump, and we see pricing supporting the 'something is about to happen' narrative.”
There May Be a Parabolic Rise in Bitcoin!
10x Research founder Markus Thielen also stated that the Bitcoin price may increase.
At this point, he stated that there may be a parabolic rise in BTC this week and said, “Speculation is high that Trump will announce Bitcoin as a strategic reserve asset, which may cause a parabolic rise in the price of Bitcoin. Making a profit before Trump's Nashville speech or even shorting Bitcoin could be an expensive move.” said.
It is claimed that Donald Trump, who is preparing to speak at the Nashville conference on July 27, may give Bitcoin a more important role in the US financial system and add it as a reserve asset.
*This is not investment advice.
