The strongest Bitcoin conference in history! US President Trump joins hands with the world's richest man Musk to pull up the market!
As cryptocurrencies become more and more popular and Musk's shouting effect weakens, this kind of prosperity has been rarely seen. Unexpectedly, the thrilling shot of former US President Trump last week reversed the recent decline of the entire cryptocurrency market and rebounded by more than 15%. Not only that, Trump himself is about to attend the Bitcoin conference held in Nashville, USA this week. Polls show that candidates with a higher chance of being elected support Bitcoin, which also drives the market's bullish sentiment to continue to accumulate-it may be a good trading opportunity in the near future. (Of course, it is also necessary to pay attention to the risk of overheated transactions).
The earliest Bitcoin conference dates back to 2013 and was hosted by the Bitcoin Foundation, a non-profit organization aimed at promoting the Bitcoin protocol. Later, some commercial entities have hosted conferences of the same name, but the influence is not very large. Until 2019, BTC Inc., to which Bitcoin Magazine belongs, began to host the annual Bitcoin conference. The conference specifications, the influence of conference guests, the number of participants, etc. began to improve qualitatively and were gradually recognized by the crypto community.
The current market seems to have broken the decline caused by the German government's sell-off in early July and has become agitated again. The reason is that the US 2024 presidential candidate Trump suffered an assassination attempt on July 13, which established his tough image as the "American Sheriff" in one fell swoop, allowing him to gain a huge advantage in the US election in November in advance. With Biden's withdrawal from the election, the new Democratic candidate Harris is obviously much weaker in momentum. Therefore, the market has actually digested the information that Trump will become the new US president in advance.
Trump has repeatedly expressed his concerns about "US Bitcoin production capacity", for example, he advocated ensuring that the remaining Bitcoin will be produced in the United States. Considering his obvious favor for oil-related traditional energy industries, stimulating Bitcoin mining, an energy-consuming industry, is a good thing for boosting oil demand and increasing industry added value.
