Trump Speech Sparks V-Shaped Bitcoin Surge

Posts: 12 · #1 - July 30, 2024, 03:56:00 AM

During Trump's speech, Bitcoin exhibited a V-shaped movement. At the beginning of the speech, Bitcoin experienced a short-term drop, falling below $67,000. However, by the end of the speech, when Trump announced that Bitcoin would be designated as a strategic reserve asset, Bitcoin surged, not only recovering all its losses but also surpassing $69,000. Subsequently, Bitcoin briefly broke through $70,000.

Trump's announcement to designate Bitcoin as a strategic reserve asset was interpreted by the market as a positive signal, indicating that Bitcoin could occupy a more significant position in the broader financial system.

Linkback: https://www.forex.zone/general-cryptocurrency-discussion/32/trump-speech-sparks-v-shaped-bitcoin-surge/4521/

Posts: 5171 · #2 - December 10, 2024, 04:42:54 PM

Bitcoin has reached $100000 since Trump's speech. It seems the higher Bitcoin goes, the less likely people will use it to transact. Any thoughts?

Math is also what could kill #Bitcoin too. If it becomes so expensive that, let's say 1 Satoshi is worth $1, who would ever want to transact in Bitcoin?

It would take $50000 just to send a simple transaction and then you still have to wait a long time too. The future of #Crypto?
— Forex Zone (@ForexZoneForum) December 10, 2024

Posts: 1415 · #3 - December 10, 2024, 05:57:12 PM

I think Bitcoin is going to make people so rich that they won't really care about the transaction cost too much. They could also transact over the lightning network for cheap.