Bitcoin has been on a strong run in recent weeks, but history shows that past Bitcoin conferences often turned into selling opportunities for traders.
As Bitcoin (BTC) arrives at this week’s Bitcoin Conference in Las Vegas trading near a record high of over $109,000, market participants are watching closely to see if the so-called “conference curse” will strike again.
Data gathered by Galaxy Research from five previous conferences—ranging from San Francisco in 2019 to Nashville in 2024—indicates Bitcoin has generally struggled during and after these events.
For example, the 2019 conference saw Bitcoin fall 10% during the event and plunge 24% in the following month. Similarly, the 2022 Miami event showed a modest 1% dip during the conference, followed by a sharp 29% decline over the next 30 days. It’s worth noting both of those declines happened amid broader bear markets.
Even in bull market years, like 2023, Bitcoin’s price tended to remain flat or slip slightly during conference periods.
At the 2024 Nashville conference, where then-presidential candidate Donald Trump announced plans for a strategic Bitcoin reserve, Bitcoin gained 4% during the event but quickly dropped 20% afterward. This decline coincided with the unwinding of the yen carry trade, which sparked risk-off sentiment across global markets.
This year’s conference, featuring current Vice President J.D. Vance, could mark a turning point as institutional interest in Bitcoin continues to grow. However, with the historical pattern of conference-week sell-offs, Bitcoin faces both psychological and technical hurdles. These events have often become classic “sell-the-news” moments for traders.
