Bitcoin Drops: Bitcoin’s price fell as much as 3.4% during the US presidential debate between Kamala Harris and Donald Trump. Investors reacted strongly to the discussion, causing the price to drop to around $55,850. Other markets were also affected, with stocks falling and bond yields rising.
Why Did Bitcoin Drop?
Bitcoin’s fall was connected to the debate, as both candidates have different views on cryptocurrency. Donald Trump, a supporter of the crypto industry, had promised to make the US a “crypto capital.” On the other hand, Kamala Harris hasn’t shared many details about her stance on cryptocurrency yet. However, she has shown interest in measures that help the industry grow while ensuring safety.
The Debate’s Impact
Market experts believe that the debate made investors nervous, especially when they saw Harris gaining more support. Betting markets also reflected this, showing a shift in favor of Harris after the debate.
Trump’s Crypto Projects
Donald Trump has been active in the crypto space. He recently launched his fourth collection of NFTs, which include images of him riding a motorcycle or posing as a boxer. His sons, Eric and Don Jr., are also involved in a new crypto project called World Liberty Financial. However, not much is known about this project yet.
Crypto’s Role in the Election
Cryptocurrency is becoming an important topic in the presidential election. Many businesses in the crypto industry are supporting candidates by donating money. They are also pushing for better regulations to help the crypto market grow. Bitcoin Drops
Conclusion
As the presidential race heats up, Bitcoin’s price is likely to react to the candidates’ positions on cryptocurrency. Trump’s support for the industry may attract more attention from crypto investors, while Harris’s policies are still being watched closely. Bitcoin Drops