Bitcoin gains 1.90% to $69600 fuelled by optimistic statements from politicians at a weekend conference in Nashville. All of the market's attention is, of course, focused on a speech by former president and major presidential candidate Donald Trump, who expressed strong support for the sector. Below are some relevant excerpts from the speech:
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Trump said he would fire the current SEC chairman, Gary Gensler, who is considered an opponent of Bitcoin and responsible for many pending lawsuits with a number of major cryptocurrency projects and companies.
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After Trump's win, the US government will create a strategic Bitcoin stockpile, and none of the 200,000-plus Bitcoin currently held will be sold by the government.
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Bitcoin will one day likely surpass the market capitalization of gold.
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Bitcoin will increase in value and is not worth selling. Bitcoin and cryptocurrencies will rise like never before if elected president.
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Bitcoin does not threaten the dollar, it is the current US government that threatens the dollar.
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The US will become the cryptocurrency leader of the world and the global superpower of Bitcoin.
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Bitcoin stands for freedom, sovereignty and independence from government coercion and control.
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There will never be a CBDC as long as Donald Trump is president of the US.
There is no shortage of ultra-positive statements and promises in the above passages. Trump clearly wants to fight for electoral votes from Bitcoin investors. This group is growing in number in the US, so their influence on the political scene will also grow.
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40% of American adults now own cryptocurrencies, up from 30% in 2023. This could be as high as 93 million people.
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Among current cryptocurrency holders, about 63% intend to increase their exposure over the next year.
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The rate of female cryptocurrency ownership has increased from 18% a year ago to 29% in early 2024.
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46% of Americans believe that the approval of a bitcoin ETF in 2024 has had a positive impact on the blockchain industry. Those who currently own cryptocurrencies are even more optimistic.
Bitcoin (D1)
Bitcoin is gaining up to USD 69600, or +1.90% and +4.00% over the weekend. For the bulls, the most important resistance level to overcome at the moment is the USD 70000 zone, followed by the previous ATH near USD 73500. In case of a correction, the USD 64000–65000 levels are worth watching.
Source: xStation 5
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