Markets
Bitcoin lost $2,000 in minutes after President Joe Biden ended 2024 election campaign
The price of Bitcoin continues to be heavily influenced by the political scene in the United States. After the failed assassination attempt on Donald Trump last weekend, this time news about his opponent has shaken the markets.
However, the cryptocurrency managed to recover and almost immediately returned to the $67,000 mark.
The current President of the United States, Joe Biden, concluded his 2024 presidential campaign an hour ago, saying it was a decision made “in the best interests of my party and the country.”
This came just days after the news broke that the POTUS had COVID and the resulting uncertainty about his health given his age.
“And while it is my intention to seek re-election, I believe it is in the best interests of my party and the country for me to resign and focus solely on fulfilling the duties of President for the remainder of my term,” Biden said in a statement.
It is worth noting that several high-ranking members of the Democratic Party have called for his withdrawal from the race following the terrible debate he had with Donald Trump last month.
Biden’s decision impacted the cryptocurrency markets, which were always open, and the price of BTC dropped by around two thousand dollars in a matter of minutes, going from over 67,500 to 65,750 dollars.
However, the asset recovered most of its losses just as quickly and is now back at around $67,000.
Bitcoin/Price/Chart 21.07.2024. Source: TradingView
Remember the events since last weekend, when Trump survived an assassination attempt, and the price of BTC has skyrocketed in the days since he became the so-called “crypto candidate.”