Bitcoin (BTC) experienced a significant surge on Friday, climbing to nearly ,000. This boost in price followed two major events that positively impacted the cryptocurrency market. The first was when the US Federal Reserve Chairman Jerome Powell mentioned that a monetary easing cycle would begin in the following month. This news led to a 3% increase in Bitcoin price within the next session of trading. The second one was the moment with the Independent presidential candidate Robert F. Kennedy Jr., who stated that he decided to stop his campaign and support Republican candidate Donald Trump. This endorsement went on to boost Bitcoin price to ,800, a 24-hour rise of 5.6%. It is believed that Kennedy’s decision to leave the presidential race and support Trump would greatly impact the
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Bitcoin (BTC) experienced a significant surge on Friday, climbing to nearly $64,000. This boost in price followed two major events that positively impacted the cryptocurrency market. The first was when the US Federal Reserve Chairman Jerome Powell mentioned that a monetary easing cycle would begin in the following month. This news led to a 3% increase in Bitcoin price within the next session of trading.
The second one was the moment with the Independent presidential candidate Robert F. Kennedy Jr., who stated that he decided to stop his campaign and support Republican candidate Donald Trump. This endorsement went on to boost Bitcoin price to $63,800, a 24-hour rise of 5.6%.
It is believed that Kennedy’s decision to leave the presidential race and support Trump would greatly impact the coming presidential election. Since both the candidates have positive views towards cryptocurrency, Kennedy’s withdrawal from the ten “swing” states may be beneficial to Trump.
Presidential Race Tightens as RFK Jr. Backs Pro-Crypto Trump
Trump is known to have a special liking towards cryptocurrencies and has expressed willingness towards forming a Bitcoin strategic reserve and has vowed to remove SEC chairman, Gary Gensler, who has been under scorn for his negative stand towards cryptocurrencies. Kennedy, who is also pro-crypto, also had similar opinions, which made his support for Trump rather intriguing.
Due to these developments, the overall market also entered the green as all cryptocurrencies benefited from this trend. Besides Bitcoin, other tokens like Ethereum, Tezos, and Solana among others also rose by more than 5%.
The battle for the presidency continues to be a nail-biting affair, but Kennedy’s endorsement of Trump could be a game-changer, particularly in swing states. What Kennedy has done has brought hope for the supporters of cryptocurrencies as they perceive this as a win for the future use of these currencies in the United States.