As a seasoned crypto investor with a knack for predicting market trends and a keen interest in politics, I find myself intrigued by the recent developments that have sent Bitcoin soaring to unprecedented heights. The convergence of two seemingly unrelated events – Jerome Powell’s monetary policy announcement and Robert F. Kennedy Jr.’s endorsement of Donald Trump – has created a perfect storm for Bitcoin and other cryptocurrencies, sending their prices skyrocketing.
On Friday, Bitcoin (BTC) saw a substantial rise, approaching $64,000. This price jump was prompted by two significant occurrences that favored the cryptocurrency market. Firstly, when US Federal Reserve Chairman Jerome Powell hinted at the commencement of a monetary easing cycle in the upcoming month. This announcement triggered a 3% rise in Bitcoin’s price during the subsequent trading session.
In the second instance, we encountered Robert F. Kennedy Jr., an independent presidential contender, expressing his decision to halt his campaign and instead back Republican candidate Donald Trump. This endorsement had a significant impact on Bitcoin’s price, propelling it to $63,800, marking a 24-hour increase of 5.6%.
It’s thought that Kennedy’s choice to withdraw from the presidential race and back Trump could significantly influence the upcoming election. As both candidates have favorable opinions about cryptocurrency, Kennedy’s departure in the crucial swing states might work to Trump’s advantage.
Presidential Race Tightens as RFK Jr. Backs Pro-Crypto Trump
Trump is well-known for having a strong interest in cryptocurrencies and has shown a readiness to establish a strategic Bitcoin reserve, as well as pledging to replace SEC chairman, Gary Gensler, who has faced criticism for his unfavorable stance towards cryptocurrencies. Kennedy, another supporter of cryptocurrencies, shares similar viewpoints, which adds an interesting layer to his support for Trump.
As a result of these advancements, the broader market turned green since all cryptocurrencies profited from this positive trend. Not just Bitcoin, but coins such as Ethereum, Tezos, and Solana, along with several others, experienced growth exceeding 5%.
The presidential race remains tense and uncertain, but Kennedy’s endorsement of Trump might significantly shift the dynamics, especially in crucial swing states. This move has sparked optimism among cryptocurrency supporters, who view it as a positive sign for the potential future acceptance of these digital currencies within the U.S.
Read More
- PENDLE PREDICTION. PENDLE cryptocurrency
- W PREDICTION. W cryptocurrency
- FIO PREDICTION. FIO cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- BONE PREDICTION. BONE cryptocurrency
- WALV PREDICTION. WALV cryptocurrency
- Bitcoin’s Unreliable Death Cross Is Looming Again
- Did the Megalopolis Trailer Make Up All Those Movie-Critic Quotes?
- Ethereum Suffers $61M Outflows, Worst Performance Since August 2022
- Decoding the Cosmic Conundrum in Honkai: Star Rail – Why So Serious?
2024-08-24 20:32