Yesterday, U.S. President Joe Biden announced the end of his 2024 presidential campaign, stating that the decision was made in “the best interest of my party and the country”
The political climate in the United States continues to influence the price of Bitcoin significantly. Following the unsuccessful assassination attempt against Donald Trump last weekend, the markets were once again jolted by news concerning his opponent.
Nevertheless, the cryptocurrency was able to rebound and return to a value of nearly $67,000 almost immediately.
This occurred mere days after reports surfaced that the President of the United States was afflicted with COVID-19, which led to apprehension regarding his medical condition, particularly in light of his age.
“And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling the duties as President for the remainder of my term,” reads a statement by Biden.
It is important to mention that several prominent members of the Democratic Party have been advocating for his race withdrawal following a disastrous debate he participated in against Donald Trump last month.
BTC’s price plummeted by approximately two grand in minutes from over $67,500 to $65,750 due to Biden’s decision, which immediately impacted the crypto markets, which are perpetually open.
Nevertheless, the asset regained most of its losses on time and is currently valued at nearly $67,000.
Last weekend, Trump survived an assassination attempt, which resulted in a significant increase in the price of BTC in the days that followed. This was due to his status as the “crypto Candidate.”
