Bitcoin Surges Despite Absence of Crypto Discourse from Biden and Trump
The recent presidential debate between Joe Biden and Donald Trump surprisingly did not touch upon the topic of cryptocurrencies, leaving the crypto community disappointed. Despite expectations of discussions on regulatory issues or other crypto-related concerns, the subject was completely overlooked during the 90-minute debate that covered various other topics.
This omission was unexpected considering the significant attention cryptocurrencies have garnered from candidates and lawmakers throughout the election cycle. While Trump had previously expressed pro-crypto sentiments, Biden faced criticism on social media following the debate. Anthony Scaramucci, founder of SkyBridge, who had previously shown support for Biden, changed his stance post-debate, suggesting Biden’s performance could cost him the election.
A poll indicated that a majority of CNN viewers believed Trump won the debate, further fueling criticism against Biden. Andrew Yang, co-chair of the Forward Party, even suggested that the Democrats should consider nominating someone else before it’s too late. In response, Biden himself took to social media to assert that he would defeat Trump, labeling him as a liar.
Despite the lack of crypto discussion in the debate, the crypto market saw some interesting movements. Bitcoin, the leading cryptocurrency, experienced a positive trend post-debate, with its price increasing from $61,439 to $62,152. This upward movement also influenced altcoins, which followed a bullish trend in the market.
However, Biden-inspired memecoins like Joe Boden suffered a significant decline of over 35% after the debate, while Trump-inspired memecoin Doland Tremp also saw a decline, albeit less severe at 3.7%. These market movements reflected the impact of the debate on the crypto market sentiment.
In conclusion, while the presidential debate might have missed the opportunity to address the crypto community’s concerns, the market dynamics post-debate showcased interesting trends, with Bitcoin leading a recovery trajectory and altcoins following suit in a bullish trend.
