2024

Donald Trump

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/trump-backs-bitcoin-at-event" data-wpel-link="internal" rel="noopener noreferrer nofollow">Trump Backs Bitcoin at Event</a><br></p>
<p style="text-align: justify">Former U.S. President and 2024 candidate Donald Trump recently voiced strong support for <a href="https://en.bitcoinhaber.net/exploring-bitcoins-trading-landscape-and-its-impact-on-market-dynamics" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> at a major cryptocurrency event. During his remarks, the price of Bitcoin had fallen but soon surged past the $70,000 mark, although it later experienced a pullback. Analysts believe that if Bitcoin exceeds $70,000, it may continue its upward trajectory.</p>
<h2 id="what-do-analysts-say">What Do Analysts Say?</h2>
<p style="text-align: justify">Experts at the cryptocurrency analysis platform Bitcoinsensus shared a Wyckoff reaccumulation chart model on July 29, indicating a positive outlook for Bitcoin. According to their analysis, Bitcoin may hit its all-time high (ATH) within the next few weeks. However, they cautioned that a pullback might occur before reaching these levels.</p>
<p style="text-align: justify">Renowned analyst Ali Martinez also noted Bitcoin’s upward trend. Using the TD Sequential indicator, Martinez stated that the Bitcoin hourly chart signaled a short-term correction before the continuation of the upward movement.</p>
<h2 id="why-does-trump-support-bitcoin">Why Does Trump Support Bitcoin?</h2>
<p style="text-align: justify">Prominent cryptocurrency figure Michaël van de Poppe highlighted Trump’s speech as a positive influence on Bitcoin. Trump mentioned that the U.S. should lead in the cryptocurrency sector and, if elected, he would purchase rather than sell Bitcoin. His pro-Bitcoin statements have made a significant impact on <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> sentiment.</p>
<h2 id="concrete-insights">Concrete Insights</h2>
<p style="text-align: justify"><b>Key Takeaways:</b></p>
<ul>
 <li>Bitcoin price recently surpassed $70,000, signaling potential for further gains.</li>
 <li>Analysts predict a new all-time high could be reached within weeks.</li>
 <li>A short-term pullback may occur before continued growth.</li>
 <li>Trump’s pro-Bitcoin stance could positively influence market confidence.</li>
</ul>
<h2 id="current-bitcoin-status">Current Bitcoin Status</h2>
<p style="text-align: justify">In the latest market developments, the Bitcoin price climbed above $70,000 but faced a sharp decline shortly after. Factors influencing this pullback include statements from England regarding economic instability and the U.S. moving a significant amount of Bitcoin linked to Silk Road, worth over $2 billion. This move triggered concerns about a potential sell-off, negatively impacting the price. At the time of writing, Bitcoin is trading at $67,199.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/trump-backs-bitcoin-at-event" data-wpel-link="internal" rel="noopener noreferrer nofollow">Trump Backs Bitcoin at Event</a></h5>

Trump Backs Bitcoin at Event

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