Bitfinex: Biden Dropping Out, Harris Endorsement May Negatively Impact Crypto Short-Term

IconCryptoNewsTerminal Staff24 Jul, 2024

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Bitfinex: Biden Dropping Out, Harris Endorsement May Negatively Impact Crypto Short-Term

Biden Withdraws, Endorses Harris: Slight Negative for Crypto in Short-Term, Says Bitfinex Crypto exchange Bitfinex has expressed its views on the recent developments in the US presidential race, suggesting that cryptocurrencies may face some short-term challenges following Joe Biden's withdrawal and his endorsement of Kamala Harris. According to a report by CryptoPotato, Bitfinex believes the announcement of Biden's withdrawal and Harris' endorsement could increase uncertainty and the potential for policy changes, which could negatively impact the cryptocurrency market. The report mentions that Bitcoin initially experienced a 3% dip after Biden's announcement but has since recovered these losses. Bitfinex also notes that the ongoing contest for the Democratic nomination could create further uncertainty, leading to potential market volatility. The report emphasizes that these developments are likely to have a short-term effect on the crypto market, and the long-term implications remain to be seen.

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