Bitcoin, Ethereum Hold Steady, Dogecoin Spikes As Biden Bows Out Of Presidential Race: King Crypto Might Have A Chance To Reclaim $71.5K, Forecasts Analyst
Portfolio Pulse from Aniket Verma
Bitcoin and Ethereum held steady while Dogecoin spiked following President Joe Biden's withdrawal from the 2024 presidential race. Bitcoin closed above $68,000, and Ethereum is awaiting ETF approval. Analysts predict potential volatility and a possible rise to $71,500 for Bitcoin.
July 22, 2024 | 2:52 am
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POSITIVE IMPACT
Bitcoin held steady and closed above $68,000 following Biden's withdrawal from the 2024 presidential race. Analysts predict potential volatility and a possible rise to $71,500.
Bitcoin's price stability and close above $68,000, combined with bullish analyst predictions, suggest a positive short-term impact. The political development adds to market sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Dogecoin spiked 5.50% to $0.1397 following Biden's withdrawal from the 2024 presidential race.
Dogecoin's significant price increase following the political news suggests a positive short-term impact. The spike indicates strong market reaction.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Ethereum held steady around $3,500 and is awaiting the final approval of ETFs tracking its spot price, which could go live this week.
Ethereum's stability and the anticipation of ETF approval suggest a positive short-term impact. The approval could drive bullish momentum.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 80