Bitcoin (BTC) closed tightly within range, again, at $4,027 USD today. Our thought process from this morning remains.
Taking a look away from king $BTC for a moment, it is hard to look in any other direction than Tron (TRX).
$TRX is up 23% over the course of the past 24 hours and is up an 43% on the week to rise to $.032 USD!
The massive run up in price is attributed to the $TRX team, which continues to exhibit shrewd marketing tactics – arguably the key variable in generating attention to the project and, thus, its prodigious growth this week.
The team is currently driving large amounts of conversation towards the project.
The event will last two days, and if the Tron team holds par with previous marketing campaigns, then we should be hearing even more publicity surrounding announcements that will be made at the event.
Even today, it was reported that Tron will higher a former SEC attorney to become a part of their guidance counsel. This is a tactful PR move and, ultimately, wise business decision when considering the amount of uncertainty in the space regarding regulations.
Our team respects the Tron project and understands the importance of aggressive marketing.
That being said, we will be playing the Tron summit just like we did the Ripple Swell conference.
At this point in time, we will be scouring to build short positions leading up to the Tron summit as these conferences have historically been buy the rumor, sell the news events. Thanks to the team over at Bitcoin Bravado for the insights and run down on the hottest token in the crypto market space today, Tron.