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Trump’s fiery address at the Bitcoin 2024 conference in Nashville saw Bitcoin prices tumble, defying expectations of a market boost.
Trump's Crypto Vision
Even if Donald Trump's keynote speech at the Bitcoin 2024 conference in Nashville, Tennessee, wasn't as powerful as some experts had hoped, it might still have an influence when word gets out.
According to Cointelegraph, a tremendous round of applause greeted the former president as he spelled out his ideas to put a stop to the war on cryptocurrency. He also shared his goals with the audience in the United States should he be re-elected. Although there was a lot of excitement in the crowd, the markets were not able to replicate the anticipation of the fans of the Republican nominee.
Bitcoin Price Trends
When President Trump was due to enter the stage, the price of Bitcoin was approximately $68,626. This occurred approximately one hour previously. In the time leading up to the event, with just thirty minutes remaining, we witnessed a rise of approximately five hundred dollars in the positive direction; however, by the time the speech was scheduled to begin, it had retreated back to a point where it was at $68,286.
The price of Bitcoin was roughly $68,447 at the time that he eventually entered the stage in Nashville, which was approximately three o'clock in the afternoon local time.
Market Hesitation
Even the president's own enthusiasm was not reflected in the market, despite the fact that he made a promise to send Bitcoin to the Moon and fire Gary Gensler on the very first day of his presidency, as well as a statement that he would "never sell" the country's current Bitcoin stockpile and a recommitment to freeing Ross Ulbricht, a former Silk Road operator.
The price of Bitcoin was $67,382 when the president's speech drew to a close, representing a decrease of approximately 1.72% compared to almost three hours earlier.
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