{"id":630868,"date":"2024-07-22T07:40:00","date_gmt":"2024-07-22T07:40:00","guid":{"rendered":"https:\/\/wncen.com\/?p=630868"},"modified":"2024-07-22T07:36:16","modified_gmt":"2024-07-22T07:36:16","slug":"expert-bitcoin-price-vertical-100000-candle","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/expert-bitcoin-price-vertical-100000-candle\/","title":{"rendered":"Expert Claims Bitcoin Could ‘Go Vertical With A $100,000 Candle’: Here’s The Trigger"},"content":{"rendered":"

As the Bitcoin 2024 conference in Nashville draws near, scheduled for July 25-27, the BTC community braces for what could be a pivotal moment in Bitcoin’s history. The event is attracting unprecedented attention, possibly set to surpass the landmark announcement<\/a> in 2021 by Jack Mallers that El Salvador would adopt Bitcoin as legal tender.<\/p>\n

The anticipation around the conference has been significantly amplified by the scheduled appearance of Donald Trump, the leading US presidential candidate. Rumors that began circulating<\/a> last week have suggested that Trump might endorse Bitcoin as a potential reserve asset should he win the presidential election in November.<\/p>\n

These speculations were further fueled<\/a> by Dennis Porter, founder of the regulatory advocacy group Satoshi Act Fund, who posted on social media platform X about an unconfirmed leak claiming that Trump plans to \u201cannounce a USA bitcoin strategic reserve in Nashville,\u201d citing sources wishing to remain anonymous.<\/p>\n

Bitcoin Could See A \u201c$100,000 Trinity Candle\u201d<\/h2>\n

Amidst this backdrop, Dan Ripoll, a former managing director at financial service company Swan and now a professional trader, outlined a bold scenario<\/a> that could potentially more than double Bitcoin’s price instantly if Trump’s plans come to fruition. Speaking on X, Ripoll described the possibility as “one of the most gangster moves” Trump could make.<\/p>\n

Related Reading: Here Are 5 Reasons To Be Bullish On Bitcoin, Analyst Says<\/a><\/div>\n

His hypothetical involves Trump announcing at the conference that he has significantly invested in Bitcoin and plans to integrate it into the US Strategic Reserve. \u201cGet balls long BTC (as in thousands of coins) going into the Bitcoin Conference next week. Announce plans to put BTC in the US Strategic Reserve. BTC goes vertical with a $100,000 Trinity Candle. Trump quintuples his net worth overnight. He never sells,\u201d Ripoll theorized.<\/p>\n

According to him, such an action would not only enhance Trump\u2019s net worth but also be positive for BTC hodlers<\/a> if he keeps his promise. \u201cThen, he should actually follow through with that promise and start accumulating BTC once in office. Everyone wins. Gensler comes after Trump for market manipulation. Trump to Gensler: \u201cYou\u2019re Fired\u201d, Ripoll added.<\/p>\n

Ripoll also suggested that the Democratic Party could potentially undercut Trump’s impact by adopting a pro-Bitcoin stance before the elections, though he expressed skepticism about their willingness to make such a move. Ripoll stated: \u201cThe Democrats could steal his thunder by coming out in favor of BTC before the election. But they won’t do it. It makes one question, how badly to the Dems want to win this thing?\u201d<\/p>\n

Reactions From The BTC Community<\/h2>\n

The reactions within the Bitcoin community to this speculative scenario has been mixed. Eugene Gant expressed skepticism about the broader implications of linking Bitcoin with potential political maneuvers, questioning the ethicality of leveraging a public position for personal financial gain through cryptocurrency. Ripoll responded by emphasizing the broader benefits if America adopts Bitcoin as a reserve asset, suggesting that tying the dollar to “hard money” could stabilize the currency and benefit holders of Bitcoin.<\/p>\n

Related Reading: Bitcoin Option Traders Are Betting On A Price Breakout Ahead Of US Elections: QCP Capital<\/a><\/div>\n

Another community member, Steve, voiced concerns that Trump’s history of promoting and then divesting personal ventures could indicate a similar strategy with Bitcoin\u2014buying low, pumping the price, and then selling high. Ripoll countered by noting the common trajectory from skepticism to support within the Bitcoin community, suggesting it wouldn’t be surprising if Trump had genuinely shifted his stance.<\/p>\n

The expert concluded: \u201cEveryone who is a bitcoin maximalist started off as a bitcoin skeptic. Every single one of us. It would not be surprising to see that he actually learned about it and changed his tune. That is the path.\u201d<\/p>\n

The anticipation for the Bitcoin 2024 conference featuring Trump is clearly visible in the BTC price action over the past days. At press time, BTC traded at $67,373, up more than 24% in the past two weeks.<\/p>\n

\"Bitcoin
BTC surpasses the key resistance area, 1-day chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL.E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

As the Bitcoin 2024 conference in Nashville draws near, scheduled for July 25-27, the BTC community braces for what could be a pivotal moment in Bitcoin’s history. The event is attracting unprecedented attention, possibly set to surpass the landmark announcement in 2021 by Jack Mallers that El Salvador would adopt Bitcoin as legal tender. The anticipation around the conference has been significantly amplified by the scheduled appearance of Donald Trump, the leading US presidential candidate. Rumors that began circulating last week have suggested that Trump might endorse Bitcoin as a potential reserve asset should he win the presidential election in November. These speculations were further fueled by Dennis Porter, founder of the regulatory advocacy group Satoshi Act Fund, who posted on social media platform X about an unconfirmed leak claiming that Trump plans to \u201cannounce a USA bitcoin strategic reserve in Nashville,\u201d citing sources wishing to remain anonymous. Bitcoin Could See A \u201c$100,000 Trinity Candle\u201d Amidst this backdrop, Dan Ripoll, a former managing director at financial service company Swan and now a professional trader, outlined a bold scenario that could potentially more than double Bitcoin’s price instantly if Trump’s plans come to fruition. Speaking on X, Ripoll described the possibility as “one of the most gangster moves” Trump could make. Related Reading: Here Are 5 Reasons To Be Bullish On Bitcoin, Analyst Says His hypothetical involves Trump announcing at the conference that he has significantly invested in Bitcoin and plans to integrate it into the US Strategic Reserve. \u201cGet balls long BTC (as in thousands of coins) going into the Bitcoin Conference next week. Announce plans to put BTC in the US Strategic Reserve. BTC goes vertical with a $100,000 Trinity Candle. Trump quintuples his net worth overnight. He never sells,\u201d Ripoll theorized. According to him, such an action would not only enhance Trump\u2019s net worth but also be positive for BTC hodlers if he keeps his promise. \u201cThen, he should actually follow through with that promise and start accumulating BTC once in office. Everyone wins. Gensler comes after Trump for market manipulation. Trump to Gensler: \u201cYou\u2019re Fired\u201d, Ripoll added. Ripoll also suggested that the Democratic Party could potentially undercut Trump’s impact by adopting a pro-Bitcoin stance before the elections, though he expressed skepticism about their willingness to make such a move. Ripoll stated: \u201cThe Democrats could steal his thunder by coming out in favor of BTC before the election. But they won’t do it. It makes one question, how badly to the Dems want to win this thing?\u201d Reactions From The BTC Community The reactions within the Bitcoin community to this speculative scenario has been mixed. Eugene Gant expressed skepticism about the broader implications of linking Bitcoin with potential political maneuvers, questioning the ethicality of leveraging a public position for personal financial gain through cryptocurrency. Ripoll responded by emphasizing the broader benefits if America adopts Bitcoin as a reserve asset, suggesting that tying the dollar to “hard money” could stabilize the currency and benefit holders of Bitcoin. Related Reading: Bitcoin Option Traders Are Betting On A Price Breakout Ahead Of US Elections: QCP Capital Another community member, Steve, voiced concerns that Trump’s history of promoting and then divesting personal ventures could indicate a similar strategy with Bitcoin\u2014buying low, pumping the price, and then selling high. Ripoll countered by noting the common trajectory from skepticism to support within the Bitcoin community, suggesting it wouldn’t be surprising if Trump had genuinely shifted his stance. The expert concluded: \u201cEveryone who is a bitcoin maximalist started off as a bitcoin skeptic. Every single one of us. It would not be surprising to see that he actually learned about it and changed his tune. That is the path.\u201d The anticipation for the Bitcoin 2024 conference featuring Trump is clearly visible in the BTC price action over the past days. At press time, BTC traded at $67,373, up more than 24% in the past two weeks. Featured image created with DALL.E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":630869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,92792,679,6848,1119,1122,8480,9848],"class_list":["post-630868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-2024","tag-bitcoin-price","tag-bitcoin-price-prediction","tag-btc","tag-btc-price","tag-donald-trump","tag-trump"],"acf":[],"yoast_head":"\nExpert Claims Bitcoin Could 'Go Vertical With A $100,000 Candle'<\/title>\n<meta name=\"description\" content=\"As the Bitcoin 2024 conference in Nashville draws near, scheduled for July 25-27, the BTC community braces for what could be a pivotal moment in Bitcoin's\" \/>\n<meta name=\"robots\" content=\"index, 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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