Biden out, bull run in? Here’s what analysts think
Biden’s sudden move to abandon the 2024 presidential race could be a “huge boost” for crypto assets, but it may be too soon to get excited about a massive crypto rally.
United States President Joe Biden shocked the markets when he ended his reelection bid on Sunday, July 22.
Some analysts suggested that the president’s withdrawal from the election race could benefit Bitcoin (BTC) and other crypto assets in the coming months, while others cautioned that investors should temper their excitement for now.
The price of Bitcoin immediately dipped as much as 2.8% following the announcement, touching the $65,800 mark, but it quickly regained over 3.6% by the time of publication, according to TradingView data.
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Author: Tom Mitchelhill
