Biden’s sudden move to abandon the 2024 presidential race could be a “huge boost” for crypto assets, but it may be too soon to get excited about a massive crypto rally.
United States President Joe Biden shocked the markets when he announced that he would no longer be running for a second term in the White House.
Now, some analysts say his last-minute move could boon Bitcoin (BTC) and crypto assets in the months to come, while others argue investors should temper their excitement for now.
The price of Bitcoin immediately dipped as much as 2.8% following the announcement but has since bounced off the $65,800 mark but quickly regained over 3.6% in the last 8 hours, per TradingView data.
