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Why crypto will likely go crazy (again) in July

June 25, 2021, 4:51 PM UTC

It has been one hell of a month for cryptocurrency investors. Bitcoin, Dogecoin, Ethereum…they’ve all taken it on the chin, and investors are rightfully exhausted. They’re not likely to get a lot of rest next month.

Elon Musk and Jack Dorsey, two of the biggest online influencers when it comes to digital currencies, will discuss Bitcoin in front of an audience on July 21 in a conference.

Dorsey announced the conference—called “The B Word”—Thursday evening, and Musk jumped into the conversation via Twitter. Dorsey continued the exchange (you can read it below for yourself), and eventually Musk agreed to a conversation at the event, and the panel was set up Friday morning.

Dorsey has been a longtime Bitcoin backer, especially via Square In February, after Bitcoin prices had tumbled, all it took for a strong rally was news that Square had bought $170 million worth of the cryptocurrency. In 2018, he boldly predicted that Bitcoin would be a world currency within 10 years.

Musk, meanwhile, has the preternatural ability to move crypto markets with the vaguest of tweets. Dogecoin’s rise (and subsequent fall) can, in large part, be credited to his off-the-cuff comments. And Bitcoin’s fall from grace earlier this year was due, in part, to his tweet about Tesla no longer accepting the crypto for car purchases.

Depending on the scope of the conversation—or the comments (or even jokes) of either participant—prices of Bitcoin and other cryptos could see even more volatility.

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