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Trump: "Bitcoin Can Fix US Debt Crisis"
With US debt at $35 trillion, former President Donald Trump is considering Bitcoin as a solution. Trump consulted Bitcoin expert David Bailey, indicating a significant policy shift.
Joe G & Money Talks
May 30, 2024 • Estimated Reading Time: 5 minutes
What we will talk about today...
Bitcoin Traders Await US Macro Data as BTC Stalls at $67K
Trump Explores Bitcoin to Tackle US Debt Crisis
Ark CEO Cathie Wood Praises El Salvador's Bitcoin Vision
Bitcoin remains near $67,000 as traders anticipate key US macroeconomic data to influence BTC price movement.
$BTC 1D
One thing I am really liking is the bull PA that’s present as we’re dropping into support.
Low volume + lower price = a non confident downtrend.
Again, looking for LTF reversals in this area to take longs.
#bitcoin#cryptocurrency#cryptonews
— Roman (@Roman_Trading)
1:27 PM • May 29, 2024
Main Points:
Price Stagnation: BTC stuck at $67,000, with weak momentum.
Support and Resistance: $67,000 is crucial support; resistance at $70,000.
Upcoming Data: US jobless claims and Q1 GDP revision may trigger volatility.
Detailed Insights:
Lack of Momentum: Bitcoin struggles to sustain moves above $70,000, with potential downside to $65,000.
Trader Sentiment: Low volume suggests a weak downtrend.
Macro Impact: Key US economic data could disrupt Bitcoin's current sideways trading.
$BTC 1D
After running into range high & market supply $72K, bulls have lacked sustained momentum above $70KWe can see the wanning momentum behind price with Stoch RSI
Structurally $66K - $65K is quite important for buyers to step in on 1D basis
RSI still above 50 + 4H/1D… x.com/i/web/status/1…
— Skew Δ (@52kskew)
1:41 AM • May 30, 2024
Traders are watching for macroeconomic data to shift Bitcoin's stagnant price action potentially.
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Trump Explores Bitcoin to Tackle US Debt Crisis
With US debt at $35 trillion, former President Donald Trump is considering Bitcoin as a solution. Trump consulted Bitcoin expert David Bailey, indicating a significant policy shift.
Main Points:
Debt Strategy: Trump explores Bitcoin to reduce US debt, consulting with expert David Bailey.
Policy Shift: Trump's new pro-crypto stance contrasts with his previous skepticism.
Crypto Support: Prominent figures like Justin Sun and Charles Hoskinson back Trump's crypto-friendly approach.
Detailed Insights:
Advisory Role: Bailey's team shapes Trump's cryptocurrency strategy.
Community Reaction: Mixed reactions in the crypto community to Trump's policy shift.
Market Impact: Investors watch for potential effects on Bitcoin's price and market.
Trump's portfolio includes over $10 million in cryptocurrencies, reflecting his evolving stance on crypto. His potential presidency could significantly impact the crypto industry.
For the past month we have been working with the Trump campaign to develop their bitcoin and crypto policy agenda. We proposed a comprehensive executive order for President Trump to sign on day 1. I will be sharing those details soon. This week Trump took the first step, but… x.com/i/web/status/1…
— David Bailey🇵🇷 $0.65mm/btc is the floor (@DavidFBailey)
3:52 AM • May 11, 2024
₿itcoin reached $67,924. +0.33%
♢Ethereum reached $3,746. -1.21%
Cathie Wood, CEO of Ark Invest, met with El Salvador’s President Nayib Bukele, praising his plans to make the country a hub for Bitcoin and AI. She predicts El Salvador’s GDP could increase tenfold in five years.
Thank you @maxkeiser and Stacy for introducing Art Laffer, @dpuellARK, Marc Seal, and me to President Bukele last week. Harnessing #bitcoin and #AI to turbocharge his economic and education reforms, the President could scale El Salvador's GDP 10-fold during his next 5-year term.
— Cathie Wood (@CathieDWood)
11:46 PM • May 28, 2024
Main Points:
Meeting Highlights: Wood and Bukele discussed reforms focused on Bitcoin and AI.
GDP Growth Potential: Wood envisions a tenfold increase in El Salvador’s GDP.
Educational Initiatives: Plans to introduce Ark Educate’s tech curriculum in schools.
Detailed Insights:
Visionary Leadership: Wood praised Bukele’s economic understanding and regional popularity.
Economic Reforms: Bukele's Bitcoin and AI focus aims to boost the economy.
Educational Reforms: Ark Invest supports tech education to drive growth.
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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results