Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Expert Claims Bitcoin Could ‘Go Vertical With A $100,000 Candle’: Here’s The Trigger

Share This Post

As the Bitcoin 2024 conference in Nashville draws near, scheduled for July 25-27, the BTC community braces for what could be a pivotal moment in Bitcoin’s history. The event is attracting unprecedented attention, possibly set to surpass the landmark announcement in 2021 by Jack Mallers that El Salvador would adopt Bitcoin as legal tender.

The anticipation around the conference has been significantly amplified by the scheduled appearance of Donald Trump, the leading US presidential candidate. Rumors that began circulating last week have suggested that Trump might endorse Bitcoin as a potential reserve asset should he win the presidential election in November.

These speculations were further fueled by Dennis Porter, founder of the regulatory advocacy group Satoshi Act Fund, who posted on social media platform X about an unconfirmed leak claiming that Trump plans to “announce a USA bitcoin strategic reserve in Nashville,” citing sources wishing to remain anonymous.

Bitcoin Could See A “$100,000 Trinity Candle”

Amidst this backdrop, Dan Ripoll, a former managing director at financial service company Swan and now a professional trader, outlined a bold scenario that could potentially more than double Bitcoin’s price instantly if Trump’s plans come to fruition. Speaking on X, Ripoll described the possibility as “one of the most gangster moves” Trump could make.

His hypothetical involves Trump announcing at the conference that he has significantly invested in Bitcoin and plans to integrate it into the US Strategic Reserve. “Get balls long BTC (as in thousands of coins) going into the Bitcoin Conference next week. Announce plans to put BTC in the US Strategic Reserve. BTC goes vertical with a $100,000 Trinity Candle. Trump quintuples his net worth overnight. He never sells,” Ripoll theorized.

According to him, such an action would not only enhance Trump’s net worth but also be positive for BTC hodlers if he keeps his promise. “Then, he should actually follow through with that promise and start accumulating BTC once in office. Everyone wins. Gensler comes after Trump for market manipulation. Trump to Gensler: “You’re Fired”, Ripoll added.

Ripoll also suggested that the Democratic Party could potentially undercut Trump’s impact by adopting a pro-Bitcoin stance before the elections, though he expressed skepticism about their willingness to make such a move. Ripoll stated: “The Democrats could steal his thunder by coming out in favor of BTC before the election. But they won’t do it. It makes one question, how badly to the Dems want to win this thing?”

Reactions From The BTC Community

The reactions within the Bitcoin community to this speculative scenario has been mixed. Eugene Gant expressed skepticism about the broader implications of linking Bitcoin with potential political maneuvers, questioning the ethicality of leveraging a public position for personal financial gain through cryptocurrency. Ripoll responded by emphasizing the broader benefits if America adopts Bitcoin as a reserve asset, suggesting that tying the dollar to “hard money” could stabilize the currency and benefit holders of Bitcoin.

Another community member, Steve, voiced concerns that Trump’s history of promoting and then divesting personal ventures could indicate a similar strategy with Bitcoin—buying low, pumping the price, and then selling high. Ripoll countered by noting the common trajectory from skepticism to support within the Bitcoin community, suggesting it wouldn’t be surprising if Trump had genuinely shifted his stance.

The expert concluded: “Everyone who is a bitcoin maximalist started off as a bitcoin skeptic. Every single one of us. It would not be surprising to see that he actually learned about it and changed his tune. That is the path.”

The anticipation for the Bitcoin 2024 conference featuring Trump is clearly visible in the BTC price action over the past days. At press time, BTC traded at $67,373, up more than 24% in the past two weeks.

Bitcoin price

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Latam Insights: Milei Dissolves Libra’s Investigation, Colombian CBDC Comes out of Stealth

Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week In this week’s edition, Argentine President Javier Milei dissolves the group

Ethereum Bullish Pattern Points To Immediate $3,000 Target – Details

The Ethereum market price rose by a net 316% in what proved to be another historic week for the crypto market as Bitcoin registered a new all-time high price Notably, the prominent altcoin has

Bitcoin And Ethereum Decoupling Reaches Historic Point — What This Means For Investors

It’s no secret that Ethereum’s performance has been tame compared to Bitcoin since the start of this cycle However, this trend became most apparent at the start of the year when

XRP price prediction: XRP Eyes $5.50 By Q4, But A “Next-Gen Rival” Could Outpace It With 1000% Gains

The post XRP price prediction: XRP Eyes $550 By Q4, But A “Next-Gen Rival” Could Outpace It With 1000% Gains appeared first on Coinpedia Fintech News XRP has shot into the limelight with many

Bitcoin At Crossroads After Trump Tariff Shock: Breakdown Towards $106K Or New ATH?

Bitcoin is grappling with intensified volatility following a sharp selloff triggered by US President Donald Trump’s abrupt announcement of a sweeping 50% tariff on all EU imports starting June 1

Buying Dogecoin (DOGE) At $0.25 or Buying Remittix (RTX) At $0.07 – Which Will Be the Bigger Payday?

The post Buying Dogecoin (DOGE) At $025 or Buying Remittix (RTX) At $007 – Which Will Be the Bigger Payday appeared first on Coinpedia Fintech News With crypto markets on the rise, investors are