Trump's Bitcoin 2024 Promises Fail to Move Markets, Defying Expectations of a Rally

Even if Donald Trump's keynote speech at the Bitcoin 2024 conference in Nashville, Tennessee, wasn't as powerful as some experts had hoped, it might still have an influence when word gets out.

Despite expectations of a market boost, Bitcoin prices fell during Trump's speech at the Bitcoin 2024 conference in Nashville.

Donald Trump's keynote speech at the Bitcoin 2024 conference in Nashville, Tennessee may yet have an impact despite falling short of some experts' expectations.

According to Cointelegraph, the former president was met with thunderous applause as he outlined his vision to end the cryptocurrency war and shared his goals for the U.S. if re-elected. While the crowd was engaged, the markets didn't quite echo the enthusiasm fans of the Republican nominee had hoped for.

Bitcoin Price Movement

Bitcoin was trading around $68,626 about an hour before President Trump was set to take the stage. In the 30 minutes leading up to the event, the price saw a positive trajectory, climbing about $500. However, by the time the speech was scheduled to begin, it had dropped back down to $68,286.

As he finally entered the stage in Nashville at around 3 PM local time, Bitcoin was trading at $68,447.

Markets Unmoved Despite Presidential Pledges

Despite the president's enthusiasm, which included promising to send Bitcoin "to the Moon" and firing Gary Gensler on the first day of his presidency, as well as a statement that he would "never sell" the country's current Bitcoin holdings and a renewed commitment to pardoning former Silk Road operator Ross Ulbricht, the market showed little excitement.

At the conclusion of the president's speech, Bitcoin was trading at $67,382, down about 1.72% from almost three hours earlier.

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