Tech
Bitcoin Steady as Donald Trump Gains Ground on Biden in Presidential Debate
Bitcoin has seen a slight rise following the recent presidential campaign debate. The main contenders in the US presidential race answered intense questions from CNN reporters.
During the 90-minute presidential debate between Donald Trump and US President Joe Biden, BTC showed bullish momentum. However, the asset lost its price momentum after the debate but remains stable above the $61,000 price level.
Donald Trump Leads the Presidential Race
Data revealed that Trump’s chances of winning the US presidency increased following the debate, while Biden’s decreased.
In particular, some individuals criticized Biden’s responses during the debate, noting that he was unable to give concise answers. Trump also criticized Biden during the debate, saying that he did not understand what Biden had to say about immigration.
This was the death blow photo.twitter.com/kEYrVCTHNu
— Auron MacIntyre (@AuronMacintyre) June 28, 2024
Also, a pro-Trump observer, Donny Brasco, labeled Biden’s flops as the saddest event he has ever seen. He believes that the entire event revealed that Biden has a cognitive disorder, which his team always hides from the public eye.
This is the saddest thing I’ve seen in a long time. @JoeBiden failed to finish his closing statement. The entire debate confirmed what many of us already knew. Biden’s cognitive decline is far worse than any of us could EVER have imagined. That’s why his handlers have… photo.twitter.com/NPZcqzYkIn
— Donny ₿rasco (@CRYPTO___FEVER) June 28, 2024
Brasco called Biden weak and the worst president and administration Americans have ever seen. However, CNN fact-checkers revealed that Biden and Trump made false claims during the debate.
Trump did it misleading statements on economic issues and abortion under Biden. Similarly, Biden has made false claims accusing Trump of trying to eliminate Social Security, among other things.
Ultimately, the debate ended with Trump’s victory, thanks to Biden’s slow reaction on issues such as immigration.
Cryptocurrencies play a major role in the US presidential race
Bitcoin’s price surge during the debate showed the relationship between the upcoming election and the cryptocurrency market. Donald Trump has shifted to a pro-crypto stance, saying he would end Biden’s war on cryptocurrencies.
Trump had previously criticized Biden’s stance on cryptocurrencies, with the disapproval of the US SEC SAB 121 application as an example.
Previously, in a Post of May 25th On the social media platform Truth Social, Trump spoke about cryptocurrencies, showing his positive and open position towards companies in the sector and all technology related to the sector.
Furthermore, in a special address In West Virginia, Florida, Trump promised to end Biden’s war on cryptocurrencies, saying that the future of Bitcoin is in America, with Florida as an area of focus.
It also has you think that the United States must be a leader in cryptocurrency-related activities. Trump said that corrupt Joe Biden, the worst president in US history, wants cryptocurrencies to die a slow and painful death.
However, if elected, he assured his supporters that cryptocurrencies would thrive under his administration. He also declared his support for Bitcoin mining, arguing that it could be the last line of defense against a CBDC.
He believes that Biden’s hatred of cryptocurrencies helps China, Russia and radical communists. Furthermore, Trump has expressed his desire for all remaining Bitcoin to be mined in the USA.
The question is whether Trump’s support for cryptocurrencies is genuine or a lever to win the election. For now, the interest is beneficial to cryptocurrency marketwhich has shown a slight improvement in the last 24 hours.
Disclaimer: The views expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile and high-risk asset class.
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