Bitcoin price action is entirely dictated by hype events, ex: Trump winning, ETF, halving's, trump inaguration, all these events have causes surges in price, followed by a steep sell off. This next event will cause another spike in price
On March 7th of this week Donald Trump and crypto czar David Sacks will be hosting the first ever white house cryptocurrency summit. In the event there will be multiple CEO's and large names from the cryptocurrency industry. Although we likely will not ever see a federal BTC reserve, the hype is there and crypto bros will fomo in. The summit is bound to have a lot of eyes on it. My thesis is that anything cryptocurrency related will have a large run up based off hype (similar to the examples listed) and eventually selloff once the event begins.
Examples of previous run ups
**EDIT: News came out at 9:33PM 2/28, This is a buy the rumor sell the news opportunity**
**Inaguration (+25%)**
[Inaguration \(+25%\)](https://preview.redd.it/81ktvhunkbme1.png?width=1283&format=png&auto=webp&s=27da47b1d2bc26b6d8a7291c19084edf3d2c5e9f)
**COIN 2m chart after Lummis event tweet (+4%)**
https://preview.redd.it/5c8hqo28lbme1.png?width=512&format=png&auto=webp&s=dd015f16bbed372eb160c0415f29f60240a839e6
[COIN 2m chart after Lummis event tweet \(+4%\)](https://preview.redd.it/muo1eb3albme1.png?width=512&format=png&auto=webp&s=d2a4c825b950da14c6beae27c8df6c3c8a374121)
**Trump wins election $COIN (+53% top) 1D**
[Trump wins election $COIN \(+53% top\)](https://preview.redd.it/fmuoqtlolbme1.png?width=1171&format=png&auto=webp&s=d35fd8e735ececa6623075369fba2499863ff90b)
**POS:** Will be buying calls on $COIN and other BTC derivative calls that expire on 3/14, selling before event
Dont bet the house!