According to Cointelegraph, Ben Simpson, the founder of Collective Shift, stated that Bitcoin has formed a "local bottom" and is moving towards an upward trend. The price of Bitcoin has been negatively affected by the German government's sale of nearly 3 billion US dollars and the repayment of about 8.50 billion US dollars by Mt.Gox creditors. Additionally, the assassination attempt on former President Trump this week has had a positive impact on the price of Bitcoin, as Trump's supportive stance on cryptocurrencies has boosted market sentiment.

Foresight News reported that according to Cointelegraph, Ben Simpson, the founder of the crypto education platform Collective Shift, stated that a "local bottom" for Bitcoin has now formed and is moving towards an upward trend. "Bitcoin's price has been impacted by a significant forced sell-off, with most of it coming from the German government's nearly $3 billion sell-off and the negative sentiment surrounding the repayment of around $8.50 billion to Mt.Gox creditors. The attempted assassination of former President Trump this week has had a positive impact on his reelection odds, boosting the former president's support for cryptocurrencies and enhancing the positive sentiment towards Bitcoin and crypto assets."

Collective Shift founder: Bitcoin forms "local bottom" and shows upward trend