The past week brought significant developments in the crypto sphere, as former President Donald Trump voiced his backing for the industry. Additionally, Charles Hoskinson criticized President Joe Biden for allegedly hindering the American crypto sector’s growth.
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Furthermore, Trump announced plans to facilitate crypto donations for his 2024 campaign. Here’s a summary of the top crypto news from the week.
Crypto Landscape: Trump’s Endorsement and Hoskinson’s Criticism
Former U.S. President Donald Trump made headlines by endorsing cryptocurrency, marking it as a significant issue for the upcoming elections. This unexpected move contrasts sharply with President Joe Biden’s perceived lack of familiarity with the crypto world. In a series of video clips shared by notable NFT creator Frank Degods, Trump expressed his support for the crypto industry, suggesting that those in favor of crypto should support him.
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Meanwhile, Charles Hoskinson, founder of Cardano (ADA/USD), accused President Biden of actively hindering the Bitcoin and cryptocurrency industry in the United States. Hoskinson criticized the Biden administration for its alleged efforts to undermine the American crypto sector, highlighting tensions within the political sphere regarding cryptocurrency regulation.
Market Fluctuations and Predictions
Cryptocurrency markets saw fluctuations in response to recent developments, leading to declines in major cryptocurrencies like Bitcoin, Dogecoin, and Ethereum. Despite the boost in market sentiment from strong ETF data the previous week, the upward trend could not be sustained on Monday.
In the world of cryptocurrency predictions, Cathie Wood, CEO of Ark Invest, is renowned for her bold forecasts about the future of digital assets. Wood has repeatedly raised the price target for Bitcoin, with her latest projection reaching an ambitious $3.8 million by 2030. However, Kevin O’Leary remains skeptical, advising caution against making speculative investments solely based on optimistic forecasts.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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