The 2024 United States Bitcoin (BTC) Conference, which will be held between July 25-27, is awaited with great interest due to its potential impact on the crypto industry.
This year's event became even more notable following the approval of the United States' first Bitcoin exchange-traded fund (ETF). One of the most anticipated parts of the conference is the speech of presidential candidate Donald Trump.
According to ChatGPT-4o, it is predicted that the conference created a generally positive atmosphere and that Bitcoin could experience a significant increase in value with the support of influential figures such as Trump. Factors such as high-profile endorsements, optimistic market sentiment and increased institutional interest can boost investor confidence. In these conditions, the AI ââtool predicts that Bitcoin's price could rise between $60,000 and $65,000.
However, if the conference passes without any groundbreaking announcements, it is possible that the Bitcoin price will remain relatively stable. In this neutral scenario, Bitcoin will likely fluctuate within a typical trading range, reflecting the overall market balance. This stability may occur due to a lack of significant news, smooth market operations, and a wait-and-see approach by investors. In this case, Bitcoin is expected to trade between $56,000 and $59,000.
On the other hand, if the conference creates a negative tone due to regulatory concerns or criticism from prominent figures, there may be a decline in Bitcoin price. This negative scenario may be shaped by regulatory warnings or uncertainties dampening market enthusiasm, cautious statements by influential speakers influencing investors, and increased market volatility due to negative news. In these conditions, Bitcoin's price could fall to the $50,000 to $55,000 range.
Trump's participation in the conference is generally considered a bullish signal for Bitcoin. Trump, in particular, is increasingly supporting Bitcoin and cryptocurrencies by supporting pro-crypto policies. His upcoming speech could reinforce his self-image as a crypto advocate.
Meanwhile, Bitcoin continues to consolidate below the $60,000 level. At the time of writing, Bitcoin was trading at $58,223 and had increased by almost 2% in the last 24 hours.
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