Trump’s speech caused a lot of volatility

The price of Bitcoin has been on a rollercoaster for the past few hours, largely induced by the anticipation and subsequent speech of former US President and current presidential candidate Donald Trump at Bitcoin 2024 in Nashville.

The price initially fell below $67,000 from an intraday high above $69,000 before the speech.

Source: TradingView

After Trump’s speech, the price started to recover, coinciding with some important statements he made.

He promised that, if elected, he would immediately stop the “war” on crypto started by the Biden administration. He also pledged to fire US Securities and Exchange Commission Chairman Gary Gensler on the first day. This was met with much applause from the audience.

Donald Trump also said he will make sure the country’s crypto regulations are written and instituted by people who understand the industry, while pledging to make sure the US keeps every bitcoin it acquires, ultimately reinforcing the slogan :

“Never sell your Bitcoin.”

Among other things, he also said that he will try to make the US the crypto capital of the world.

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