1 day ago
As bitcoin BTC enters this week’s Bitcoin Conference successful Las Vegas priced astatine astir a grounds precocious supra $109,000, traders and analysts are intimately watching whether it what's go a inclination of mediocre show aft these events.
Historical information compiled by Galaxy Research crossed 5 anterior conferences from San Francisco successful 2019 to Nashville successful 2024 reveals that bitcoin has mostly fared poorly some during and particularly aft these gatherings.
For example, the 2019 lawsuit saw a 10% diminution during the league and BTC went connected to tumble 24% implicit the pursuing month. The 2022 league successful Miami showed a akin trajectory: down 1% during the lawsuit and a steep 29% descent successful the period after. Both of those instances, however, occurred successful the mediate of carnivore markets.
Even successful bull marketplace years similar 2023, though, terms enactment remained level oregon somewhat negative.
The astir caller 2024 league successful Nashville successful July — which featured then-presidential campaigner Donald Trump promising a strategical bitcoin reserve — posted a 4% summation during the event, but a accelerated 20% diminution soon after, coinciding with the unwinding of the yen transportation commercialized that triggered a broader risk-off determination crossed planetary markets.
The setup this twelvemonth — which is acceptable to diagnostic existent Vice President J.D. Vance — could beryllium materially antithetic arsenic institutional engagement is rising. Still, with humanities information stacked against it, bitcoin faces a intelligence hurdle arsenic overmuch arsenic a method one. Conference weeks person go sell-the-news moments.
English (US) 