Bitcoin may be set for a price rebound amid alleged Trump’s plan to speak at Bitcoin convention

Bitcoin could be in line for a resurgence in price following reports that former President Donald Trump is planning to speak at a Bitcoin convention. Data from Santiment suggests that Bitcoin’s price has historically rebounded when social media discussions around the word “bottom” have increased. This news brings hope to investors who have grown skeptical of Bitcoin’s recent decline. Bitcoin briefly dropped below $60,000 on Monday following news of Mt Gox beginning to pay its creditors. However, with Trump’s alleged pro-crypto stance and his intentions to “end Joe Biden’s war on crypto,” his speech at the Bitcoin convention in July could further strengthen the crypto industry’s support for him and potentially solidify his advantage over Biden in the upcoming elections.