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Trump vs. Biden: Riot's Morgenstern Highlights Stark Contrast in Crypto Policies

Brian Morgenstern of Riot Platforms contrasts Trump's pro-bitcoin stance with Biden's regulatory measures, emphasizing the 2024 election's impact on the crypto industry.

• Main Points:

  • Trump's Stance: Promises to protect Bitcoin, opposes central bank digital currency (CBDC).

  • Biden's Approach: Described as hostile to Bitcoin, implements stringent regulations and proposed mining taxes.

  • Crypto Impact: The 2024 election could significantly influence the future of Bitcoin and the crypto ecosystem.

• Detailed Insights:

  • Trump's Stance: Riot Platforms' Brian Morgenstern praises Trump for pledging to shield Bitcoin from regulatory threats, supporting self-custody, and opposing a CBDC. He notes Trump's alignment with global pro-bitcoin leaders.

  • Biden's Approach: Morgenstern criticizes Biden for vetoing legislation that would protect bitcoin custody rights and for implementing anti-crypto measures, aiming to undermine the industry.

  • Crypto Impact: Morgenstern argues Trump's policies would protect bitcoin enthusiasts' rights, support the bitcoin mining industry, and maintain American economic leadership, contrasting with Biden's restrictive policies.

Related: BRICS Meeting Highlights Shift to Local Currencies

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Legendary Trader John Bollinger Breaks Silence on Bitcoin Price

John Bollinger, creator of Bollinger Bands, suggests Bitcoin's recent consolidation could lead to significant price gains despite current volatility.

• Main Points:

  • Bitcoin Drop: Bitcoin fell from $70,000 to $67,000, causing market concern.

  • Consolidation Insight: Bollinger suggests prolonged consolidation can lead to significant price increases.

  • Market Prediction: Bollinger accurately predicted the recent pullback; focus now on Bitcoin's next move.

• Detailed Insights:

  • Bitcoin Drop: Bollinger highlighted Bitcoin's drop from $70,000 to $67,000, sparking market anxiety.

  • Consolidation Insight: He referenced the principle "the bigger the base, the higher in space," suggesting potential for future gains after consolidation.

  • Market Prediction: Having predicted the pullback, Bollinger now watches whether Bitcoin will hold at $67,000 or change further.

Related: Why is Ethereum (ETH) Price Down Today?

Bitcoin 92-Day Consolidation Setting Up 'Massive' Rally — Traders

Bitcoin's 92-day consolidation period hints at a major price rally, according to analysts.

• Main Points:

  • Longest Consolidation: Bitcoin has been consolidating for 92 days.

  • Potential Rally: Analysts predict a significant price surge after this stability.

  • Historical Patterns: Previous consolidations have led to all-time highs.

• Detailed Insights:

  • Longest Consolidation: This 92-day period is the longest consolidation in Bitcoin's history.

  • Potential Rally: Traders like Daan Crypto Trades and Mags suggest that longer consolidations typically result in larger expansions.

  • Historical Patterns: Past consolidations, like the 21-day one post-2020 halving, led to significant price increases. Bitcoin is now trading at $67,413, within a tight range since its March high of $73,679.

Related: Michael Saylor Reveals Bitcoin ETFs Holding 1 Million BTC

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results