US Election News Likely to Drive Cryptocurrency Volatility in Near Term
CryptoNewsTerminal Staff22 Jul, 2024
US Election News Likely to Drive Cryptocurrency Volatility in Near Term
As the US election draws near, the cryptocurrency market has been experiencing increased volatility. Singapore-based crypto trading firm QCP Capital predicts that "the US Election news headlines will continue to drive the crypto volatility in the near term." Several factors are contributing to the volatility, including the assassination attempt on former US President Donald Trump, his comments on Taiwan's defense spending, and the recent endorsement of Vice President Harris by former Vice President Joe Biden. All eyes will be on Trump as he is set to speak at a Bitcoin conference this weekend. QCP believes that the US election-related news should continue to be the main driver for the crypto market in the near term. Investors should be aware of the potential for increased volatility in the crypto market as the US election approaches. They should also be mindful of the risks associated with investing in cryptocurrencies.
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