Dr. Profit's Sunday report:
Bitcoin - What's Next?
The Big Sunday Report: All You Need to Know
🚩 TA/LCA/Psychological Analysis:
At $54k, I predicted $60k was next. At $60k, I told you $66-67k was imminent. Now, prepare yourself for a new all-time high (ATH) – it’s very close. Watch the Fear and Greed Index, which shifted from EXTREME FEAR last week to greed in just 7 days. These are golden moments for investors ready to grab the golden entry, but many (especially those not in our premium membership) missed buying during extreme fear. Those who bought the dip in my buy zone are now seeing huge profits.
BTC has reclaimed the MA100 daily and closed the week above it. This is yet another confirmation that my technical analysis was spot on. Those who trusted my insights had the opportunity to add even more to their portfolios. So, what’s next, and why is this week special?
Upcoming Catalysts: Trump at the Bitcoin 2024 Conference
This week is monumental. In six days, on July 27, Trump will speak at the Bitcoin conference in Nashville. Expect big volatility this week, especially with Trump’s speech, which is likely very bullish for BTC. Trump announced JD Vance as his vice-presidential pick, a big crypto fan. This announcement could transform digital asset regulations, providing a bullish outlook for the future of the entire industry. It’s very likely Trump will discuss integrating crypto with AI, potentially driving massive gains for AI coins and the crypto market itself.
Parallels with Elon Musk’s 2021 Conference
I spotted several parallels with Elon Musk’s conference In 2021, at the Bitcoin conference in Miami, Musk’s speech caused a 20% market correction, with Bitcoin dropping from $39,000 to $31,000 in just 3-4 days. However, 45 days later, Bitcoin reversed, pumping from $29,000 to $69,000 in 110 days, marking a +133% increase and entering a golden bull run. This huge pump was due to El Salvador’s President Bukele making Bitcoin legal tender. This time, Its unlikely that Bitcoin will correct another 20% from here, I personally expect a breakout to the upside instead.
Now, three years later, Bitcoin is in a similar position. The same conference is coming, but instead of a South American president, we have a (most likely future) U.S. president speaking about Bitcoin. This makes the outlook extremely bullish, with the potential for a new ATH as a direct result of Trump’s speech this quarter.
There are also rumors that Elon Musk might attend the conference, but if you ask me and my personal opinion, there’s a possibility of Michael Dell making a surprise appearance. Dell, with a net worth far exceeding that of Michael Saylor by x10, will have a much bigger impact on BTC than someone like Michael Saylor.
For Bitcoin, this event signifies massive price volatility. The 2021 bull market was catalyzed by a similar conference, and history might be on the verge of repeating itself. I stay very bullish here.
Conclusion
Prepare for a very volatile week ahead. ETH ETF launch in two days and Trump’s participation in the Bitcoin 2024 conference will make this week crazy volatile. Again and I repeat myself, this market is a pure bull market and I see no reason for the start of the bear as some people expect.
