Former President Donald Trump Affirms Commitment to Bitcoin Conference Despite Assassination Attempt – BTC Price Forecast Reaches $65,000
Former President Donald Trump reaffirms commitment to cryptocurrency industry despite assassination attempt
Former President of the United States, Donald Trump, is not backing down on his support for the cryptocurrency industry. Despite an attempted assassination on the Republican nominee, Trump has confirmed his attendance at the Bitcoin Conference in Nashville, Tennessee. The price forecast for Bitcoin on Tuesday revealed a strong bullish comeback as the largest cryptocurrency surged past $65,000.
David Bailey, CEO of Bitcoin Magazine and organizer of the event, assured the crypto community that Trump was “in good spirits” and will be speaking at the conference. Meanwhile, the “Yes” shares in the presidential election contract of the Polymarket traded at 72 cents, indicating a growing sentiment in favor of Trump winning the election against current President Joe Biden.
Investors in the Polymarket stand to earn $1 for every share if their prediction is correct. The Republican Party has chosen Sen. J.D. Vance (R-Ohio) as Trump’s running mate, known for his strong belief in cryptocurrency and holding Bitcoin.
The BTC price forecast suggests that the $100,000 milestone is achievable in 2024. The MVRV Z-Score, a metric used to measure market valuation, indicates strong support for Bitcoin’s price rally towards a new all-time high. Additionally, the NVT ratio, used to identify market tops and bottoms, suggests that Bitcoin has bottomed out and could see a breakout above $70,000 in July.
Key indicators supporting the uptrend include Bitcoin holding above $64,000, with the 50-day Exponential Moving Average (EMA) expected to absorb selling pressure. Despite resistance at $65,000, the Moving Average Convergence Divergence (MACD) has signaled a buy, reinforcing the bullish trend.
Inflows into Bitcoin ETFs and other AUM products indicate increasing interest in Bitcoin this week. Overall, the outlook for Bitcoin remains positive, with potential for further price appreciation in the near future.
