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Between this week’s Bitcoin conference in Las Vegas at the price of approximately a record greater than $ 109,000, traders and analysts look closely if what has become a trend of poor performance after these events.
Historical data compiled by Galaxy Research through five previous conferences from San Francisco in 2019 in Nashville in 2024 reveal that Bitcoin generally did not succeed during and especially after these gatherings.
For example, the 2019 event experienced a 10% drop at the conference and the BTC continued to overflow 24% in the following month. The 2022 conference in Miami showed a similar trajectory: down 1% during the event and a drop of 29% in the following month. However, these two cases occurred in the middle of the bear markets.
Even in the bull market years like 2023, prices have remained flat or slightly negative.
The most recent conference in 2024 in Nashville in July – who presented the candidate of the time, Donald Trump, promising a Bitcoin strategic reserve – posted a gain of 4% during the event, but a rapid decrease of 20% shortly after, coinciding with the course of the Transport of the Yen which sparked a broader risk decision on the global markets.
The configuration of this year – which should present the current vice -president JD Vance – could be materially different as institutional engagement increases. However, with historical data stacked against it, Bitcoin faces a psychological obstacle as much as a technical obstacle. The weeks of conference have become moments of sale-New News.
