Dear Readers,

We have already covered that the US Presidential Election would be a crucial factor the crypto movements. 

While the current Democratic Government is not so friendly to crypto at this moment, the crypto world expects that Trump would be much favour for the market. As per expectation, Trump who is so harsh with Crypto in his last term made a U turn and he is so soft and support for the crypto markets. 

Even in his Presidential campaign, he raised funds through cryptos and he has launched his own NFT.

But what made the headlines is that his key note address in the recent Bitcoin 2024 conference in Nashville where he strongly supported Bitcoin and Crypto. He wanted US to be crypto capital in the world. He wanted to create a national BTC stock pile. 

His encouraging speech gained a lot of confidence for the crypto enthusiasts and the crypto world as a whole. 

But all of a sudden, the crypto world is shocked with the fact that  the US Government has moved 29800 BTC in connection with the seized Silk Road 2022 case to an unknown wallet address by yesterday the July 29, 2024. 

This is considered as a move by the present US Government to sell all its BTC reserves. 

The Galaxy Digital CEO Mike Novogratz lashed out at this recent crypto fund movement, calling it “tone deaf” move by the current administration in his twitter post. 

What makes more interesting is the view of Peter Schiff, the noted crypto point persons took his Twitter Space and mentioned the above view point.

With these news are around the corner, BTC and the crypto markets are facing a great downfall. 

At the time of writing this article, The global crypto market cap is down over by 3.48% and currently valued at  $2.39 Trillion. 

BTC is trading at $66,645 ( -4.25%) and ETH is trading at 3340 (-1.32%) from yesterday. 

But the movements that we see in the markets are temporary. 

Use wisely for all the opportunity to buy/DCA and enjoy the crypto rally that is widely anticipating sooner.

Stay invested in the crypto markets, little by little at every buying zone and build your porfolio.

If Trump would be elected in the US Presidential Election, the rally could be unstoppable indeed!

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