PANews reported on July 24 that regarding the upcoming Bitcoin conference in Tennessee, USA, HashKey Group chief analyst Jeffrey Ding believes that the timing of this conference is quite similar to the "Bitcoin 2021" conference held in Miami in 2021, and may replicate or even surpass the crazy market in the second half of 2021.
Specifically, first of all, the market sentiment before this conference was more optimistic. In 2021, the market triggered the "5.19" market due to negative events in China's domestic policies; this year, similar wash operations were carried out using the German and Mt.Gox events. However, the market tended to be stable before the 2021 conference, and the market consolidated for several days after the conference, and only started to rise after confirming the bottom twice; before this conference, due to the impact of the "Trump" incident, the market had achieved a "V-shaped" reversal before the conference, rising from the bottom, and the sentiment was more optimistic.
Secondly, the guests of this conference are expected to be more important. Participants in 2021 include American politicians, Crypto industry insiders or celebrities. The most important event is undoubtedly that the President of El Salvador announced that Bitcoin is the local legal currency and reserve asset, and has been purchasing it. This year's conference attracted a more important guest because of the US election: Donald Trump! Whether the former president is for 50 million American crypto voters or to support the Crypto financial system to break the financial monopoly of Wall Street, it will bring huge benefits to the industry. At the same time, "Iron Man" Musk and the new Democratic candidate Harris may also attend the conference, although the latter's main purpose is to win the support of crypto voters.
Most importantly, the macro-monetary policy is expected to be more friendly. In early 2020, the United States started the "helicopter money" mode due to the epidemic. At that time, the interest rate hike was expected to begin, and the market was eager to complete the market before the official rate hike. Now, the Fed's interest rate cut is imminent, which may be implemented in September this year or after Trump takes office. This will enhance the liquidity and risk appetite of the market, and the market will therefore last longer.
