The Bitcoin price has rejected strongly from the $70k price mark, trading as low as $65,700 today on Tuesday.
Several factors are contributing to the selling pressure on BTC. For instance, the US government moved $2 billion worth of its Bitcoin holdings, which spooked several whales into panic selling. The FOMC meeting and monthly close on Wednesday are also adding to the volatility.
However, Bitcoin price predictions from experts are not underestimating the fact that pro-crypto candidate Donald Trump has slipped up in the latest polls against Vice President Kamala Harris.
Smart money traders are already divesting into presale tokens to weather the short-term volatility. For instance, a new meme coin WienerAI is surging in its presale, having already raised over $8 million.
Pro Crypto Donald Trump Slips In Latest Polls
Former President Donald Trump has been the key factor behind Bitcoin’s bullish strength in July.
The failed assassination attempt on Trump kickstarted BTC’s recovery. Furthermore, his speech at the Bitcoin Conference last Sunday pushed the Bitcoin price to as high as $70k.
The former president announced the launch of a Bitcoin Strategic Reserve, promising that his government will not sell any BTC it holds or acquires in the future. He also promised to fire Gary Gensler from the SEC on day one, to thunderous applause from the audience.
The crypto industry is square behind Donald Trump and prices climbed as he appeared as the favorite against Biden.
However, Trump is no longer the clear favourite. In fact, the latest poll from Redfield has Kamala Harris Leading against her opponent by two points.
More importantly, Trump’s lead has evaporated in the swing states. For instance, Harris appears to be firmly in the lead in Pennsylvania.
Harris could see more gains in the coming days, especially considering that she has yet to pick her running mate.
Quite simply, there is now a real possibility that Kamala Harris wins the presidential election in November.
Bitcoin Price Prediction for August
Experts were initially extremely bullish on Bitcoin for August, with some expecting it to hit a new all-time high and trade as high as $80k.
However, this could change if Trump continues to slip in the polls.
For instance, the Bitcoin price prediction from Nebraskangooner (@nebraskangooner) highlights that BTC could correct to $62k in August. He highlights that the bulls need to defend the 11-day and 22-day EMAs to avoid this maximum pain scenario.
All eyes are now on Wednesday’s FOMC. A bullish stance from Fed Chair Jerome Powell could eliminate all bearish scenarios, pushing BTC towards new all-time highs.
WienerAI Raises $8 Million as Crypto Presales Surge In Demand
Crypto presales and low-cap gems are surging in demand, considering they protect investors from short-term price action and allow them to invest on fundamentals alone.
For instance, a new meme coin WienerAI (WAI) has raised over $8 million in presale. Aside from its strong presale performance, smart money investors are impressed with its real-world utilities.
Indeed, WAI isn’t an ordinary run-of-the-mill meme coin. Instead, it offers cutting-edge AI utility to its holders in the form of a Trading Bot. The AI-powered bot will offer investment-related suggestions including alpha trading setups, MEV protection and seamless swaps – all at no additional cost.
Furthermore, WAI holders can stake their coins and earn attractive yields, currently at an APY of over 110%.
Owing to its unique value proposition, analysts believe that WienerAI could potentially offer up to 100x returns. More importantly, it would not impacted by the broader market sentiment, owing to its low-cap status.
Experts are expecting the hype and FOMO surrounding the meme coin to reach a fever pitch, considering that its presale is ending tomorrow on July 31st at 10 AM UTC.
