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Enter this week’s Bitcoin conference in Las Vegas, priced at about a record high over $ 109,000, see dealers and analysts close to whether it has become a tendency for poor performance after these events.
Historical data prepared by Galaxy Research across five prior conferences from San Francisco in 2019 to Nashville in 2024 reveals that Bitcoin has generally managed poorly both under and especially after these gatherings.
For example, the 2019 event saw a decrease of 10% during the conference, and BTC continued to tumble 24% over the following month. The conference in 2022 in Miami showed a similar course: down 1% during the event and a steep 29% slide in the month after. However, both of these cases occurred in the middle of the bear markets.
However, even in the year of the bull market as 2023, the price action remained flat or slightly negative.
The last 2024 conference in Nashville in July with the then presidential candidate Donald Trump, who promised a strategic Bitcoin-Reserve-broadcasting a win of 4% during the event, but a quick 20% fall shortly after, coincided with the settlement of the yen berry that triggered a wider risk movement across global markets.
The setup this year – which is set to contain current Vice President JD Vance – can be material different as institutional commitment increases. Still, with historical data stacked against them, Bitcoin faces a psychological obstacle as much as a technical. Conference Week has become Sales-News moments.
