As cryptocurrencies play an increasingly important role in the global economy, former US President and current candidate Donald Trump appears to be strategically leveraging this trend to his advantage. His recent statement underscores this shift.
Renowned for his skepticism towards cryptocurrencies during his presidency, Trump has since adopted a more pro-crypto stance in his current campaign. In a recent address, he once again captured attention with his remarks. For the latest financial and business news, visit COINTURK FINANCE.
Trump and his team, who have been vocal about the US taking the lead in the cryptocurrency space and accepting crypto donations for their campaign, have now turned their focus towards Joe Biden and his policies. Trump declared his intention to put an end to Biden’s anti-crypto stance and ensure that the future of crypto and Bitcoin is rooted in America.
This statement may signal the dawn of a new era in the US, characterized by stringent regulations that could pose challenges for many exchanges and crypto projects.
In the midst of these developments, all eyes are on Bitcoin (BTC), which recently dipped to the $65,000 mark. Despite a 0.88% decline in the past 24 hours, BTC is still trading at around $66,000. The cryptocurrency’s market cap remains at a significant $1.3 trillion level, although its trading volume reflects a negative trend.
BTC’s 24-hour trading volume currently stands at $27.2 billion, following a 5.67% decrease. The decline in trading volume suggests that investors who engaged in panic selling may have run out of steam. Furthermore, analyst Eric Balchunas’ recent comments on the decisions regarding the S-1 document for the spot Ethereum ETF have sparked some activity in this area. Despite the drop in BTC, Ethereum’s price has shown a positive trajectory, maintaining a value of $3,482 at the time of writing.
Ethereum’s market cap is at $418 billion, with a 24-hour trading volume of $15.7 billion after an 8% increase.
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Disclaimer: The information provided in this article is not intended as investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies, and conduct their own research before making any investment decisions.