Biden out Bull run in???

[Mr Reporter]

Biden sudden move to abandon the 2024 presidential race could be a "hug boost" for cryptocurrencies and other assets said the crypto analyst predicted.

Some analysts suggested that the president’s withdrawal from the election race could benefit Bitcoin
BTCUSD
 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


https://www.tradingview.com/news/cointelegraph:03b845355094b:0-biden-out-bull-run-in-here-s-what-analysts-think/

Guys what your take on this??

[Ojima-ojo]

This thread suite best at speculations board, since it about bitcoin price speculations, here is the link to speculations board: https://bitcointalk.org/index.php?board=57.0

Now back to the discussion as for what is responsible for the current bitcoin price movements where bitcoin moved quickly to above $67k price and pointing to possible touch 68k in no time from now, since the buy orders are accumulating more than sell other which is an indication of a further uptrend direction demands.


I can't associate the current bitcoin price break out to any political events but then we can't deny the possibility of political events and news being responsible for bitcoin price actions, so Biden exit may contribute to it even as its not clear that is the case.

[coolcoinz]

I don't think it's something that should trigger a bull run.

Bull runs should have a strong foundation. One of such foundations is halving and a subsequent increase of the floor price for new bitcoins coming to the market.
Could you call the US president a strong foundation? We're talking about a man who once criticized bitcoin. A man who can change his mind, like many others did once they were chosen.

Also, I feel like Trump had much greater chance to win against Biden who couldn't distinguish Putin from Zelensky. Kamala is dumb, but she's going to appeal to women, unlike the man who said they should be grabbed by the pussy

[SamReomo]

Nope, Biden's in or out won't matter much when it comes to bull run. I believe ETFs have played their role in adding huge boost to crypto market and the rest was played by the halving event. I know the Bitcoin's price wasn't impacted too much by halving event but it will surely help to accelerate the intensity of the bull run.

In fact I believe we're already in bull market and within time it may get more intense and that's why either Trump or Biden won't matter, they might be good as subject of useless meme coins but they play no role in improving the conditions of the market.

If Trump's saying good things about crypto then that's okay but we don't need to trust him with close eyes because politicians are known for their U-Turns and Trump may also take a U-Turn after getting elected as president of US.

[Aanuoluwatofunmi]

I can't associate the current bitcoin price break out to any political events but then we can't deny the possibility of political events and news being responsible for bitcoin price actions, so Biden exit may contribute to it even as its not clear that is the case.

Same here as well, bitcoin is known for this we already have it in mind that being a volatile digital currency, the market can rise and fall at any time, maybe we should just admit on this recent occurrence as a coincidence, politics is a different thing and that may not have to depend on the market supply or demand in which bitcoin market price is based upon, moreover, there is no clear intention that Biden is quitting, all these were just mere speculations in causing for FUD.

[LogitechMouse]

Re: Biden out Bull run in???

It can be... or it can be not.
What I do know is that, one event isn't enough for the bull run to start. It will requires series of good events that will put the investors into a state of "Euphoria" that will force them to buy Bitcoin and other altcoins because of what's happening globally.

This withdrawal of Biden from the presidential race might be one of the catalysts since many crypto investors in the US doesn't want him since he isn't supporting them. On the other hand, Trump who is the front runner "SUPPORTS" them. These political events doesn't have a direct impact towards the crypto market, but this and other events might change the sentiments of the investors which directly affects the prices. This event might have a long-term effect on the crypto, but like I said, this will not be enough for the bull run to start.

Are we in the bull run phase already? I don't think so, and I still can't feel the fact that people are panicking - to buy more Bitcoin.

[avp2306]

Biden sudden move to abandon the 2024 presidential race could be a "hug boost" for cryptocurrencies and other assets said the crypto analyst predicted.

Some analysts suggested that the president’s withdrawal from the election race could benefit Bitcoin
BTCUSD
 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

https://www.tradingview.com/news/cointelegraph:03b845355094b:0-biden-out-bull-run-in-here-s-what-analysts-think/

Guys what your take on this??

Don't expect anything from current political events since that doesn't dictate anything. Maybe it can do something with regulation but I don't think those events could trigger a bull run. Demand is the main reason why we could experience that scenario and I don't think that happens when Biden step out since that event doesn't change anything.

Maybe if Trump successfully acquire the presidency then he announce that America will separate some funds to buy Bitcoin in support of this technology then provably that we could able to see the demand will go higher and that possibly could trigger a bullrun.

But with that scene I guess bitcoin will perform the same.

[Majestic-milf]

 I won't attribute Bitcoin's increase to Biden stepping down at all cause that will seem unfair. If anything, we're seeing such bull run thanks to the effort of Trump and the fact that he's not relenting even with the assassination attempt on his life.
More people are confident to put their money in Bitcoin to support the campaign from what I see and that too could cause the rise in price.
 

[TravelMug]

I won't attribute Bitcoin's increase to Biden stepping down at all cause that will seem unfair. If anything, we're seeing such bull run thanks to the effort of Trump and the fact that he's not relenting even with the assassination attempt on his life.
More people are confident to put their money in Bitcoin to support the campaign from what I see and that too could cause the rise in price.
 

But investors need something to fuel and put their money on Bitcoin so that we will have this bull run. Nevertheless, after the news it really push as high as $68,500. However, it has settled down a bit as we are seeing minor dip in the last 24 hours to $66k.

Still early though, not sure how strong Harris is against Trump, the score hasn't changed a bit, it seems that the Americans are favoring Trump this November. So most likely if there will be another massive pump, it could still be this November when Trump win and then triggering till early next year when he official sits at January.

[Oshosondy]

Biden sudden move to abandon the 2024 presidential race could be a "hug boost" for cryptocurrencies and other assets said the crypto analyst predicted.

Even if Joe Biden is not out of the United States presidential race, bitcoin will still later increase because it is likely that Donald Trump would be the next president of the United States even if Joe Biden contestant in the presidential race. Joe Biden party might probably have seen that Joe Biden might lose and making new strategies to make sure that Donald Trump will not win. If Donald Trump won, I think the market would be bullish that day. But regardless of this, be it anyone that wins, bitcoin is still an asset with increasing value.

[Majestic-milf]

Still early though, not sure how strong Harris is against Trump, the score hasn't changed a bit, it seems that the Americans are favoring Trump this November. So most likely if there will be another massive pump, it could still be this November when Trump win and then triggering till early next year when he official sits at January.

She can have a fighting stance against the ex president as most of her leading rivals have endorsed her, same with speaker of the House, Nancy Pelosi. Contrary to beliefs, many people don't really dance to Trump's tunes and still have a distate that he's even a candidate. She can use this aversion to her benefit if she can convince the centrist in important states and energize the Democratic base who have been in the past few weeks, swinging towards a state of uncertainty, to equal or rival the enthusiasm many on the right hold for the former president.

[Yaunfitda]

Biden sudden move to abandon the 2024 presidential race could be a "hug boost" for cryptocurrencies and other assets said the crypto analyst predicted.

Even if Biden chooses to continue with his Presidential bid against Trump, crypto will still be a big boost as we are in the bull run season and we are just waiting for the right time to see the price suddenly zoom out and go on parabolic rise. But it could be the after effect of Trump, who declared himself to be pro crypto and there party are putting crypto in front of their policies. But there are still months to go, Harris will be the new nomination so let's see how fare he can go against Trump. It might be a task for Kamala and her party to overcome Trump though. In any case, if we can still continue to do DCA before the price goes off at the end of the year, then we should all do it and save and accumulate as much as we can.

[boyptc]

One theory that I've read is that most of the Trump supporters are also into Bitcoin and that's why we're seeing a pump. 

Seriously, without this election, the bull run will come smoothly. But I'm starting to play with a thought that this bull run might be even bigger after this election.

And can't deny that fact that the politics in the USA has affected the Bitcoin market this time.

[Jating]

Still early though, not sure how strong Harris is against Trump, the score hasn't changed a bit, it seems that the Americans are favoring Trump this November. So most likely if there will be another massive pump, it could still be this November when Trump win and then triggering till early next year when he official sits at January.

She can have a fighting stance against the ex president as most of her leading rivals have endorsed her, same with speaker of the House, Nancy Pelosi. Contrary to beliefs, many people don't really dance to Trump's tunes and still have a distate that he's even a candidate. She can use this aversion to her benefit if she can convince the centrist in important states and energize the Democratic base who have been in the past few weeks, swinging towards a state of uncertainty, to equal or rival the enthusiasm many on the right hold for the former president.

She could have, but for now the numbers doesn't seems to be likely favoring her. And it's obvious that she will be endorsed by anyone, but I guess even if they do, Trump is leading as per the data and it's going to be very hard to overtake. And if we talk about crypto, this is the breaking point for Trump as it looks like he got a positive nod from Bitcoin supporters already.

So you can't discount that Trump, couple with the news goods with him picking Vance as his VP, they will have to do something drastic to overcome him. And probably this is what they have decided, but still Harris is not that well known to voters while Trump is making headlines and push the price of Bitcoin to almost $70k.

[justdimin]

Biden sudden move to abandon the 2024 presidential race could be a "hug boost" for cryptocurrencies and other assets said the crypto analyst predicted.

Yeah, I think Biden being out could be great for crypto. Because dem candidate (probably Kamala) could be pro-crypto as well, these people are on the side of whoever pays them, and Kamala could be bought as well and would do better for crypto world.

This means, whoever wins, we have a shot have having a better future for crypto in the USA , that should be something to be excited about. I am not saying that will be the case, I am just saying that it is a good possibility that we can see that happening, not unlikely. I believe that we are going to see things change easily as well, we just need to make sure that it is not really that bad, we could probably do something nice with it. Obviously it is not going to be too simple, it is going to take a while.

[retreat]

Guys what your take on this??

It is possible that for some investors they see this as positive news, because with Biden's resignation it makes Trump come forward as the strongest candidate, which we know that he came with good promises in the world of Bitcoin, and that made his way to becoming president became smoother and made investors more confident that he could become president and realize his promises. However, I'm not so sure that it can bring a bullrun, because to achieve a bullrun it can't only be achieved with Trump as president, but it must also be supported by other positive news, but it does provide positive things to the market.

[Majestic-milf]

[quote  link=topic=5503786.msg64352012#msg64352012 date=1721723455]

She could have, but for now the numbers doesn't seems to be likely favoring her. And it's obvious that she will be endorsed by anyone, but I guess even if they do, Trump is leading as per the data and it's going to be very hard to overtake. And if we talk about crypto, this is the breaking point for Trump as it looks like he got a positive nod from Bitcoin supporters already.

Not surprised about that because like you mentioned Trump has Bitcoin supporters rooting for him and you don't expect a woman who Biden kept as a ceremonial figure to fill in for him should Incase matters like this arise? We all know she doesn't stand a chance against Trump on a good day but the votes and the outcome of the debates can prove otherwise.

So you can't discount that Trump, couple with the news goods with him picking Vance as his VP, they will have to do something drastic to overcome him. And probably this is what they have decided, but still Harris is not that well known to voters while Trump is making headlines and push the price of Bitcoin to almost $70k.

Trump is at the forefront of every Bitcoin price headline at the moment and that shouldn't be surprising with how much energy he's got going. You know what makes for a good story? A convicted felon championing for Bitcoin. It will make naysayers tongues wag but then we know how resilient he is and won't let that faze him and continue to do what he's doing. If anything, this new rival in Harris Kamala will bring out Trump's harshest instincts.

[Helena Yu]

What a funny reason to correlate with Bitcoin price, Biden out, Trump dead, Elon Musk in, Xi Jinping takeover US etc. Bitcoin price is depend on supply and demand, not from someone else including a president.

Even Biden is out from the election, it doesn't mean Trump or anyone else can make a decision without Biden. Biden is still the president, so he can do anything until Trump will officially back become a president.

[EarnOnVictor]

Biden sudden move to abandon the 2024 presidential race could be a "hug boost" for cryptocurrencies and other assets said the crypto analyst predicted.
Guys what your take on this??

People will not stop to amaze me, Biden is still the US president and that will not change till 2024, not to mention the fact that he nominated someone with the same view. Why would the market react so much to that? People always like to point fingers at happening and just find whatever excuses that come to their heads for Bitcoins' woes and appreciation.

In my understanding of what is happening now, the trend of the market was already bullish before Biden declared his withdrawal from the presidential race. This will not magically stop the market trend, and more reason why this claim doesn't hold water is that the market didn't react strangely after the declaration till now. Besides, Biden's administration is not anti-crypto as widely spread, they are only trying to regulate it.

[Finestream]

Biden sudden move to abandon the 2024 presidential race could be a "hug boost" for cryptocurrencies and other assets said the crypto analyst predicted.

Even if Joe Biden is not out of the United States presidential race, bitcoin will still later increase because it is likely that Donald Trump would be the next president of the United States even if Joe Biden contestant in the presidential race. Joe Biden party might probably have seen that Joe Biden might lose and making new strategies to make sure that Donald Trump will not win. If Donald Trump won, I think the market would be bullish that day. But regardless of this, be it anyone that wins, bitcoin is still an asset with increasing value.

Biden and Trump may create an effect to bitcoin but I don’t think the whole pump of bitcoin these days are only attributed to Biden or Trump, but it’s probably the right time for bitcoin price to skyrocket again after its price has dumped few days ago. Let’s just say when its demand, adoption and its market sentiments are doing in favor of the market, the whole price of bitcoin will certainly be moving upward, not the other way around.