Bitcoin –Another All-Time High Attempt Before Going Parabolic?

Institutional Crypto Research Written by Experts

Author

Markus Thielen
July 21, 2024

👇1-10) This week is packed with potential market-moving events. Rumors are rife that the SEC may settle a major case, and former President Trump is set to deliver a highly anticipated speech in Nashville. Speculation is high that he will announce Bitcoin as a strategic reserve asset, which could trigger a parabolic rise in Bitcoin's price.

👇2-10) With Joe Biden dropping out of the US Presidential race, no credible candidate can seriously challenge Donald Trump. The November election appears to have been decided without a single vote. For Bitcoin, a pro-crypto administration will enter the White House. Historically, this meant that the SEC chair resigned when a new administration was elected, despite SEC Chair Gensler’s term ending on June 5, 2026. He will most likely resign by January/February 2025.

Bitcoin tended to rise parabolically once above previous all-time highs.

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