Bitcoin’s price experienced a sudden drop on Sunday as President Joe Biden announced his decision to quit the 2024 race for the White House. The cryptocurrency plummeted from $67,453 to $65,884 before quickly recovering to $66,893 at the time of publishing.
This news comes after Former President Trump voiced his support for the crypto industry, stating his desire for Bitcoin to be “made in America.” With Biden now endorsing Vice President Kamala Harris as the candidate to take on Trump, the future of Bitcoin and cryptocurrency regulation remains uncertain.
Biden’s decision to drop out of the race follows concerns about his mental decline, particularly after a poor debate performance. Pressure from 37 Democrats in Congress also played a role in his decision.
As the political landscape continues to shift, investors in Bitcoin and other digital assets are advised to exercise caution and conduct thorough research before making any high-risk investments. The Daily Hodl reminds readers that all transfers and trades are done at their own risk, and any losses incurred are their responsibility.
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