How Crypto Investors Are Bracing for Volatility and What It Means for Bitcoin’s Future

Till President Biden dropped out of the race in July, it appeared that Trump was the clear favourite throughout the crypto neighborhood. Within the aftermath of the failed assassination try on July 12, bitcoin rose from $56,000 to $65,000 on expectations that the previous president would revenue from the incident. Trump’s view on crypto appears to have modified over time. As president, he expressed skepticism about crypto, claiming it could possibly be used to facilitate unlawful actions reminiscent of drug trafficking. He additionally mentioned at one level that he sees bitcoin as a forex that competes with the greenback. In newer occasions, nonetheless, he has wholeheartedly embraced crypto, promising that the US would grow to be a “bitcoin superpower” and the “crypto capital of the planet” underneath his management. His marketing campaign has began accepting bitcoin donations. He additionally mentioned he would change SEC Committee Chairman Gary Gensler, a notoriously hated determine amongst crypto advocates. This twist appears to have labored. Many of the crypto neighborhood apparently helps Trump.