As Bitcoin
Entering the Bitcoin Conference this Sunday in Las Vegas who was priced at about a record of over $ 109,000, entrepreneurs and analysts were closely watching if it had become a trend of poor performance after these events.
Historical data Combined with Galaxy Research Throughout the five previous conferences from San Francisco in 2019 to Nashville in 2024 it was announced that Bitcoin was usually tired at the same time and especially after these gatherings.
For example, the 2019 event saw a 10% decline in the conference and the BTC continued to fall by 24% next month. The 2022 Conference in Miami showed a similar trajectory: down 1% during the event and a steep 29% slide to the month afterwards. The same instances, however, took place in the midst of the bear markets.
Even during the Bull Market years like 2023, though, price action remained flat or slightly negative.
The latest 2024 conference in Nashville in July-which featured president’s candidate Donald Trump who promised a strategic Bitcoin reserve-posted a 4% gain during the event, but a fast 20% decline in a while, coinciding with the yen carry trade that triggered a greater risk-off-off market.
This year’s setup – set to feature current vice president JD Vance – may be material as different as Interaction with the institution is rising. However, with historical data stacked against it, Bitcoin faces a psychological obstruction that is as much as a technical. The conference weeks have become the moments of sell-the-news.
