Bitcoin Presidential Candidates Pool Shrinks Further — Trump, RFK Jr. Remain Sole Hopes For Crypto World After DeSantis Exits
Portfolio Pulse from Mehab Qureshi
The pool of U.S. presidential candidates supportive of cryptocurrency has diminished with the withdrawal of Vivek Ramaswamy and Ron DeSantis from the race. This leaves Dean Phillips and Robert F. Kennedy Jr. as the remaining pro-crypto candidates. Donald Trump, who has previously criticized cryptocurrencies, has recently opposed central bank digital currencies (CBDCs) and launched a series of NFTs with Bitcoin Ordinals. Bitcoin's price is currently at $41,133, down 1.12%.
January 22, 2024 | 7:10 am
News sentiment analysis
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NEUTRAL IMPACT
With the presidential candidate pool shrinking and remaining candidates showing support for crypto, Bitcoin's regulatory outlook could be impacted. Trump's NFT launch with Bitcoin Ordinals may also influence sentiment.
The withdrawal of pro-crypto candidates may create uncertainty about future regulatory support for Bitcoin, potentially affecting investor sentiment. Trump's engagement with NFTs and Bitcoin Ordinals could be seen as a positive signal by some investors, but his past criticism of cryptocurrencies adds complexity to the potential impact. The short-term price action of Bitcoin is down, indicating that the news has not had a positive effect on the price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70