The sudden decision not to seek re-election is emblematic of a party with a complicated history regarding cryptocurrencies. The current Democratic government has not been very favorable to the cryptocurrency industry, and under its rule, the cryptocurrency industry has been subjected to several regulatory crackdowns. A prime example is the SEC's authorization to create the Ethereum ETF.
the X Spaces #interview and the U. S. election: a turning point?
Can this interview turn the tide of the U. S. election campaign? It's hard to predict at this stage. Elon Musk has repeatedly and openly supported Donald Trump, and his optimistic stance on the crypto industry is well known; X Spaces is expected to have high traffic during the live interview, and the platform anticipated this and ran the system. The crypto community, which is heavily represented on X, will undoubtedly be keeping a close eye on this event. If the #cryptocurrency debate plays out as many expect, it could benefit the Republican camp significantly. The actual effect will depend on how well Democrats are prepared to parry any significant statements about the future of cryptocurrencies in scheduled interviews.
At the time of writing, the price of #bitcoin was approximately $58,699.68. It has fallen 4.3% in the last 24 hours, but has only risen 0.9% in the last hour. Interestingly, the 30-day change is 1.2% and the seven-day change is 11.3%. The #ethereum chart shows almost the same trend. In the last seven days, it has increased by 10.3 %; the 24-hour change is -4.1 % and the hourly change is 0.9 %. However, unlike bitcoin, Ethereum has shown a significant drop of -18.1 % in the last 30 days. Following the interview, there is potential for price volatility on the major cryptocurrency charts.
the interview between Trump and Musk could be a pivotal moment for the crypto community and for Republican candidates ahead of a key debate with their opponents in September. As both men are influential figures, their conversation could have a significant impact not only on the cryptocurrency market, but also on the broader election campaign. Will he really be able to sway the cryptocurrency establishment to the Republican side?
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