🚨 BIDEN QUIT = BULLRUN CONTINUES? 🚨
💼📰 Joe Biden's unexpected decision to end his 2024 reelection bid has created ripples across the financial markets. Some analysts believe this move could significantly benefit Bitcoin and other crypto assets, while others urge caution before predicting a massive crypto rally.
📉📈 The announcement led to an initial 2.8% dip in Bitcoin's price, touching $65,800, but it quickly rebounded by 3.6% to settle around $67,245, as per TradingView data.
Market Analysts' Perspectives:
Josh Gilbert, eToro
🌟 "Biden's move is a win for crypto assets," Gilbert remarked, suggesting that Trump's increased chances of reelection could be a "huge boost for the asset class." He believes Trump's lead in the election odds will further bolster crypto assets' prices.
Markus Thielen, 10x Research
💡 Thielen proposed that a crypto-friendly Trump might announce plans to make Bitcoin a strategic reserve asset for the U.S. at the upcoming Bitcoin 2024 conference. He noted that doubling the U.S. government's Bitcoin holdings could have a significant price impact.
Pav Hundal, Swyftx
⚠️ Hundal cautioned against linking Biden's withdrawal directly to the recent price action in the crypto market. He mentioned the possibility of a temporary stall in prices, akin to the Bitcoin ETF experience, urging investors to stay cautious and avoid overexcitement.
Gary Black, The Future Fund
🔮 Black warned his followers on X that a Trump victory is not a foregone conclusion, pointing out the American public's trust issues with Trump post-Jan 6th events. He highlighted potential Democratic candidates like Newsom or Michelle Obama who could still enter the race.
Stay tuned for more updates & stay informed with @Professor Mende - Bonuz Ecosystem Founder . 🚀💡
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