In the latest edition of Proactive's Crypto Report, Stephen Gunnion interviews Billy Farrington about the current state of the Bitcoin market.
Farrington noted an increase in volatility over the past week, with daily fluctuations of up to 5%. He attributes this to decreased trading volumes following Bitcoin's recent halving event. Despite positive US inflation data, which showed a drop to 3% year-on-year in June, Bitcoin did not experience the expected price increase. Currently, Bitcoin's price has slightly increased week-on-week but remains 15% down against the US dollar.
The upcoming Bitcoin 2024 conference will feature a diverse lineup of speakers, including Donald Trump, Russell Brand, Edward Snowden, Cathie Wood, and Michael Saylor. Farrington mentioned Trump's historically sceptical stance on Bitcoin, though recent Republican policies have shown more support for cryptocurrency.
The Republican National Committee's platform opposes a central bank digital currency and supports the right to mine and self-custody Bitcoin. This shift is seen as a strategic political move contrasting with the Democrats' more cautious approach to cryptocurrency.
Farrington concluded by noting the interesting mix of speakers and the potential impact of their discussions at the conference.
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