The news that US President Biden announced his withdrawal from the 2024 presidential election may have a certain impact on the cryptocurrency market, and this impact can be analyzed from multiple angles.

First, from the perspective of political donations, we know that in the 2020 campaign, cryptocurrency industry representatives such as Sam Bankman-Fried (SBF) donated millions of dollars to Biden's campaign. This suggests that some participants in the cryptocurrency industry tend to support specific political candidates, perhaps because these candidates hold cryptocurrency-friendly policy positions or because they expect that the election of these candidates will be beneficial to their business.

In the ever-changing cryptocurrency market, investors are often attracted by the dazzling array of currencies, from Bitcoin to Ethereum to countless alternative coins (altcoins), the choices seem endless. However, in this field full of volatility and opportunities, there is an old saying that is worth pondering: "There are no good coins, only good prices." This article will explore this view and analyze how the importance of price exceeds the charm of the coin itself in investment decisions.

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UNDERSTANDING THE MARKET
The cryptocurrency market is essentially a market driven by supply and demand. This means that the value of any coin depends on the number of people willing to buy and sell it in the market and the price they are willing to pay. Therefore, even the most promising projects may suffer a heavy price blow if market sentiment is low or technical problems are frequent. Conversely, some seemingly insignificant small coins may soar in price due to a surge in speculative demand under certain market conditions.