“Bitcoin has been on a heater over the past few weeks, But Previos Years’ Conferences Have Proven to be Decent Selling Opportunities.”, – WRITE: www.coindesk.com
Enters this Week’s Bitcoin Conference in Las Vegas Priced at Roomhly a Record High Above $ 109,000, Traders and Analysts Are Closely Watching Whther Iter.
For Example, The 2019 Event Saw A 10% Decline Durying The Conference and BTC Went On Tumble 24% Over The Following Month. The 2022 Conference in Miami Showed a Similar Tradery: Down 1% During the Event and A Steep 29% Slide in the MONTH After. Both of Those Instances, However, Occurred in the Middle of Bear Markets.
Even in Bull Market Years Like 2023, Thought, Price Action Remated Flat or Slightly Negative.
The setup this year – WHICH IS SET TO FEATURE CURRENT VICE President JD Vance – Could Be Materialy Different as Institutional Engase is rising. Still, with Historical Data Stacked Against It, Bitcoin Faces A Psychological Hurdle As Much As A Technical One. Conference Weeks Have Become Sell-The-News Moments.
BTCUSD PRICE Performance Durying and After BTC Conferences (Galaxy Research)
In addition to his professional endeavors, James Serves as an Advisor to Coinsilium, A UK Publicly Traded Company, WHERE HE PROVides Guidance on Their Bitcoin Treasury Strategy. He Also Holds Investments in Bitcoin and Strategy (MSTR).
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