Today’s rise can only be described as a Donald Trump pump and it was expected. Bitstamp exchange returns are complete, and there are less than 24 hours until Donald Trump’s speech in Nashville. Everyone is excited, and they have every right to be. What about historical data? Here are the latest analyst comments and predictions for the coming hours.
Trump Cryptocurrency Surge
In the previous Bitcoin event, BTC experienced a sharp decline; if we talk about historical data, we might see a repetition. Maybe it won’t fall this time; we can’t know without seeing it. However, Trump’s speech on Saturday, with the competition heating up with Harris as the November elections approach, will undoubtedly be unprecedented in history.
Cryptocurrency has turned into something quite interesting, hasn’t it? The world’s largest asset manager is issuing crypto ETFs. The favorite presidential candidate of the world’s largest country is eagerly waiting to excite 30,000 people with crypto promises at a Bitcoin event. What could be bigger than that?
The next step would probably be the Fed adding billions of dollars of Bitcoin to its reserves. Too funny? Senator Lummis will likely announce this bill as a promise just before Trump speaks. And of course, BTC is still inexplicably around $67,500.
Expert Commentary on Cryptocurrencies
Popular crypto analyst Titan of Crypto is even more bullish due to the supportive environment in terms of news flow and the hash ribbons indicator. He wrote the following about the buy signal he saw on the 5-day chart:
“After the Hash Ribbons indicator gave a buy signal on the daily chart, it now shows a Buy Signal on the 5-day chart, which is even more significant. One of the 8 events in the past resulted in a big rise this way.”
The analyst known by the pseudonym Mikybull also supports the bullish sentiment.
“Bitcoin finally witnessed the MACD bullish cross on the 3-day chart, confirming this setup even further. Big bear squeezes are coming, folks!”
Rekt Capital is also among those expecting a rise to $71,500 with closes above $65,000. The latest crypto analyst Crypto Ed, on the other hand, expects a new test at $62,000.
