Crypto Market Awaits US Presidential Candidates' Announcements

IconCryptoNewsTerminal Staff24 Jul, 2024

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Crypto Market Awaits US Presidential Candidates' Announcements

The crypto market is in a wait-and-see mode as traders await announcements from US presidential candidates on their stance on digital assets. "The market will be in a wait-and-see mode until former US President Donald Trump speaks at a Bitcoin conference," said CoinMarketCap Research Director Allice Liu. "If Trump says something positive about adding bitcoin to the Treasury, BTC price will go up a lot." Singapore-based crypto trading firm QCP Capital also predicts that prices may remain low until the US presidential momentum begins in earnest. "We expect the market to remain lackluster until we get more clarity from the US presidential candidates," said QCP Capital founder and CEO Darius Sit. "Once we start to see some concrete proposals from the candidates, we could see a breakout in prices." The crypto market has been range-bound for the past few months, with Bitcoin trading between $30,000 and $40,000. The lack of volatility is likely due to the uncertainty surrounding the regulatory landscape for digital assets, as well as the ongoing COVID-19 pandemic.

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