Bitcoin Price Prediction as Musk Denies Crypto Talks with Trump – What’s Next for BTC?

Forex
May 31, 2024
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Bitcoin Price Prediction

Bitcoin’s market outlook has garnered significant attention following Elon Musk recent tweet denying any discussions about cryptocurrencies with former U.S. President Donald Trump.

Musk stated, “Pretty sure I’ve never discussed crypto with Trump, although I am generally in favour of things that shift power from the government to the people, which crypto can do.”

This clarification comes amid speculation about their conversations during a breakfast meeting in Florida, where Trump reportedly did most of the talking.

This comment highlights Musk’s continued support for decentralized financial systems, even amid his denial.

Pretty sure I’ve never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do

— Elon Musk (@elonmusk) May 30, 2024

Musk’s Denial of Crypto Talks with Trump Amid Campaign Rumors; Bitcoin Steady

This denial follows reports that Trump is emphasizing Bitcoin and other digital assets in his campaign to attract new voters.

Trump campaign officials have also considered inviting Musk to speak at the Republican convention, though no final decision has been made.
Discussions suggest Trump values Musk’s influence, especially given Musk’s significant role in Washington and his companies’ federal contracts.

Musk clarified on Twitter that he has not discussed crypto with Trump, but he supports the idea of shifting power from government to people, which crypto can achieve.

This tweet comes amid ongoing speculation and reflects Musk’s stance on decentralization and empowerment through digital assets.

Musk’s denial and his general support for decentralization underscore the potential of cryptocurrencies like Bitcoin to empower individuals. Let’s take a look at Bitcoin price prediction

Bitcoin Price Pumps to $68,300 Despite Elon Musk’s Denial

On the technical front, Bitcoin (BTC/USD) has gained immediate support around the $67,885 level, extended by an upward trendline on the 4-hour chart. The Relative Strength Index (RSI) is consolidating around 50, suggesting potential for further upward movement.

The pivot point, marked in green at $68,232, serves as a critical level for determining market direction. Immediate resistance levels are at $68,862, $69,548, and $70,620. Conversely, support levels are found at $67,107, $66,380, and $65,428.

Bitcoin Price Prediction – Source: Tradingview

Technical indicators show that a bullish breakout above $68,862 could lead to further gains towards $70,620. Conversely, a break below $67,885 might expose BTC to further downside risks, targeting $67,107 or even lower towards $66,380 and $65,428.

Conclusion: The outlook for Bitcoin remains cautiously bullish above the pivot point of $68,232, with immediate resistance at $68,862 and support at $67,107. Traders should monitor these key levels for potential market movements.

Exciting New AI Meme Coin Wiener AI – Can It Outperform?

The fun new sausage dog-themed meme coin, Wiener AI (WAI), is more than just a novelty. It offers advanced AI-powered trading tools, adding substantial utility beyond its playful exterior.

With investors already pouring $3,611,700 into WAI’s presale, this early demand signals strong interest in the new meme coin.

In the current market, AI is a hot theme, especially after Nvidia’s impressive earnings. This trend is expected to boost demand for WAI even further.

Not only does WAI come with AI utility, but it also provides a great opportunity for earning passive income. Twenty percent of the total supply is allocated to staking rewards, offering investors a remarkable 396% APY, according to the project’s official website.

At this rate, investors can potentially double their initial presale investment in just a few months.

3 Million raised!

As holder count grows, so does the anticipation for launch and the AI trading bot release!!

pic.twitter.com/Y19TEbKwjc

— WienerAI (@WienerDogAI) May 26, 2024

Crypto experts are eagerly buying into this exciting AI crypto coin. Michael Wrubel, a widely followed crypto analyst with over 312,000 YouTube subscribers, ranks WAI as a top crypto for 2024.

Interested investors need to act fast as the WAI price will increase when the presale reaches $3 million. The current price is $0.00071, giving WAI a market cap of under $50 million. If WAI achieves market leadership, early investors could see significant gains, with the potential for 100x returns or more.