Bitcoin's value has been strongly influenced by political and socio-economic events for quite some time now. The currency experienced a significant jump on rumors that former
President Donald Trump might establish a U.S. Bitcoin Strategic Reserve. Political news like Biden's withdrawal decision from the 2024 election resulted in a quick surge in
crypto prices, indicating a tight connection between politics and crypto market fluctuations. Donald Trump, showing interest in the virtual currency, referred to himself as the 'crypto president.' His potential involvement caused a surge in price, with predictions that the currency might even triple. However, this does not exclude the possibility of flash crashes, such as the one experienced recently when Bitcoin slumped below $66K, followed by a rebound to above $68K.
ARK Invest Analysts see such fluctuations as indicators of deep value opportunities. The future still remains uncertain, but Trump's involvement and his optimistic stance towards Bitcoin could significantly raise its market cap. Critics, however, warn of the potential exhaustion of large sellers.
Bitcoin News Analytics from Sun, 30 Jun 2024 07:00:00 GMT to Mon, 22 Jul 2024 00:40:54 GMT -
Rating 3
- Innovation 5
- Information 7
- Rumor -2
