Rally

Biden

Bitcoin

Joe Biden

Gary

Leading cryptocurrency Bitcoin experienced a brief decline after US President Joe Biden announced that he will not seek a second term.
However, this decline was short-lived. While BTC rose above the level before the decline, it rose to $ 68,400 levels earlier today.
Although some analysts state that Biden's withdrawal from the 2024 presidential elections is a major catalyst for Bitcoin, some analysts also warn investors.
Describing Biden's withdrawal as “a victory for cryptocurrencies”, eToro market analyst Josh Gilbert stated that Trump's chances of re-election increased with this decision of Biden.
Stating that Biden's withdrawal means a great support for Bitcoin and the cryptocurrency industry, Gilbert continued his words as follows:
<blockquote>
 “As long as we see Trump continue to stay ahead in the election odds, cryptocurrencies will further price in his victory.
 It's hard to think Kamala Harris or any other Democratic candidate can overcome Trump's lead in the polls with just three months left in this race. But a lot can happen in that time frame, so nothing is out of the question.”
</blockquote>
Gilbert also said that he expects the Bitcoin price to rise further following the upcoming launch of spot Ethereum ETFs, noting that ETFs in the US have been one of the main catalysts for the market-wide rise.
10X Research founder Markus Thielen also stated that he expects an increase and stated that there may be a parabolic rise in BTC in the short term with Trump's speech at the Bitcoin conference in Nashville.
Related News: <a href="https://en.bitcoinsistemi.com/attention-to-this-week-in-bitcoin-btc-is-preparing-for-a-parabolic-rise-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Attention to This Week in Bitcoin: BTC is Preparing for a Parabolic Rise! Here's Why!</a>
<h2 id="analysts-warn-bitcoin-investors">Analysts Warn Bitcoin Investors!</h2>
However, some analysts think that Biden's decision to withdraw may not lead to a sudden increase in cryptocurrencies.
On this issue, Swyftx analyst Pav Hundal said that Biden's withdrawal may increase Trump's chances, but it will be difficult to correlate this directly with the current price movements in the cryptocurrency market and warned investors.
<blockquote>
 “Learning from the Bitcoin ETF experience, we may see a temporary pause in prices before the uptrend resumes.
 “This recent surge can be attributed to early Ethereum ETF speculation, and it is important for investors to remain cautious and not get overly excited about the short-term rise.”
</blockquote>
Gary Black, managing partner of The Future Fund, also warned his followers that Trump's presidential victory is not yet certain.
“Those who think Trump/Vance will win overwhelmingly are getting carried away,” Black wrote in his “They may nominate a Democrat as their presidential candidate. It's too early to have such a high confidence that Trump will be president for a second term.” said.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/how-will-joe-bidens-withdrawal-from-candidacy-affect-the-crypto-market-will-rally-begin-in-bitcoin-and-altcoins-here-are-analysts-predictions/" rel="noopener noreferrer nofollow">How Will Joe Biden's Withdrawal from Candidacy Affect the Crypto Market? Will Rally Begin in Bitcoin and Altcoins? Here are Analysts' Predictions…</a>

How Will Joe Biden's Withdrawal from Candidacy Affect the Crypto Market? Will Rally Begin in Bitcoin and Altcoins? Here are Analysts' Predic...

Съдържание

Bitcoin Sistemi EN

Други статии, публикувани на 22.07.2024 г.

Dogwifhat Price Nears $3 – 3 Other Meme Coins to Watch This Week

U.S. SEC Verdict: Classifies Ethereum (ETH) as a Commodity, Not a Security

All Eyes On Donald Trump At Bitcoin 2024 As Elon Musk Arrives In Tennessee After Changing X Profi...

From Mantle’s Missteps to MoonBag’s $10 Moonshot: The Only Crypto Play You’ll Need in 2024

Dogecoin 380% Surge ‘A Matter Of Time’, Analyst Predicts

The Role of the Thunder Wallet in RAIN's Ecosystem

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!