Biden sudden move to abandon the 2024 presidential race could be a "hug boost" for cryptocurrencies and other assets said the crypto analyst predicted.
Even if Joe Biden is not out of the United States presidential race, bitcoin will still later increase because it is likely that Donald Trump would be the next president of the United States even if Joe Biden contestant in the presidential race. Joe Biden party might probably have seen that Joe Biden might lose and making new strategies to make sure that Donald Trump will not win. If Donald Trump won, I think the market would be bullish that day. But regardless of this, be it anyone that wins, bitcoin is still an asset with increasing value.
Most times, I try as much as possible not to get involved with political issues and speculations, but when it comes to bitcoin and how it market react to news and political issues, I believe that no political candidates have the power to influence the promise of bitcoin, no matter how firendly they are towards bitcoin.
Trump or Joe Biden, none have the power to influence the price of bitcoin Because being a united states president gives the president power to make policies that concern the United State alone.
What makes it a good sign though is Trump winning the election as he is a pro-crypto as opposed to Biden and Kamala Harris party stance on it. As if they are trying to curtail the technology with taxes and all that stuff. But yeah, who knows, maybe Trump being the re-elected will push the price to higher grounds much faster that we expected.
As he could hire pro-crypto amongst his rank to bolster Bitcoin in the US. Maybe there will be no tax on those mining Bitcoin and there could be pro crypto laws. So he could be what we call the catalyst in this bull run to see the price hitting at least 6 digits next year if he is inaugurated formally as the next US President next year January. So exciting times ahead to be crypto enthusiast in the US.