In an exciting development for the cryptocurrency world, US Presidential candidate Robert F. Kennedy Jr. will be delivering a keynote speech at the upcoming Mining Disrupt 2023 event in Miami. Known for his growing support for Bitcoin, Kennedy Jr. has made several promises regarding the popular cryptocurrency if he were to be elected as President. These include backing the US dollar with Bitcoin and eliminating capital gains taxes on bitcoin conversions, signaling his recognition of the importance of digital assets in the global economy.
Mining Disrupt has established itself as a significant event in the industry, originating from a Telegram group for miners and growing into a thriving trade show and B2B Expo. This year, the event is expecting a large turnout of around 5,000 attendees, including expert speakers from the Bitcoin mining space. The primary goal of Mining Disrupt is to foster trust within the industry while promoting its continuous growth.
Meanwhile, Russia is set to launch its own digital currency, the digital ruble, after receiving approval from President Vladimir Putin. Unlike Western countries, Russia has banned the use of private cryptocurrencies for payments within the country, thus emphasizing the government’s emphasis on a centralized approach to digital assets. The digital ruble will be optional for citizens and managed directly by the central bank. It is expected to offer programmable features such as transaction limits and spending restrictions, providing the government with greater control over the flow of money.
In the midst of these developments, the price of Bitcoin has been experiencing a decline, currently trading below the $29,000 mark. With a risk of further downside towards the $28,200 support zone, Bitcoin has broken a major bullish trend line and is trading below the 100 hourly Simple Moving Average. The immediate resistance is near $29,250, and failure to break this level could lead to continued downward movement towards the $28,200 support zone. Further major support levels lie at $28,880 and $28,200.
As the mining industry evolves and governments around the world grapple with the implications of digital currencies, events like Mining Disrupt serve as crucial platforms for education, collaboration, and innovation. With prominent figures like Robert F. Kennedy Jr. lending their support to Bitcoin and discussions surrounding the launch of national digital currencies, the future of blockchain and its applications in various sectors continue to captivate both investors and enthusiasts alike.
Disclaimer: The above market analysis is for informational purposes only and should not be regarded as financial advice. cryptocurrency investments are volatile and carry significant risks. It is essential to conduct thorough research and seek professional advice before engaging in any investment activities.
Note: The information provided in this response is based on the given text and does not reflect the current or future state of events. It is advisable to verify the mentioned developments from reliable sources.