Bitcoin Stables as Donald Trump Gains Ground Against Biden in Presidential Debate

Bitcoin rallied slightly following the recent presidential campaign debate. The top contestants in the US Presidential race answered fast-paced questions from CNN journalists. 

During the 90-minute presidential debate between Donald Trump and US President Joe Biden, BTC showed bullish momentum. However, the asset lost its price momentum after the debate but remains steady above the $61,000 price level.

Donald Trump Leads The Presidential Race

Data revealed that Trump’s chances of winning the US Presidency have increased based on the debate, while Biden’s chances have declined.

Notably, some individuals criticized Biden’s responses during the debate, noting that he could not give concise answers. Trump also criticized Biden during the debate, stating that he did not understand what Biden said about immigration.

This was the kill shot pic.twitter.com/kEYrVCTHNu

— Auron MacIntyre (@AuronMacintyre) June 28, 2024

Also, a pro-Trump observer, Donny Brasco, labeled Biden’s flops as the saddest event he has ever seen. He believes that the entire event revealed that Biden has a cognitive disorder, which his team always disguises from public view.

This is the saddest shit I’ve seen in a very long time. @JoeBiden couldn’t get through his closing statement. The entire debate confirmed what many of us already knew Biden’s cognitive decline is far worse than any of us could have EVER imagined. This is why his handlers have… pic.twitter.com/NPZcqzYkIn

— Donny ₿rasco (@CRYPTO___FEVER) June 28, 2024

Brasco labeled Biden weak, and the worst president and administration Americans have witnessed. However, CNN fact-checkers revealed that Biden and Trump made false claims during the debate. 

Trump made misleading statements on economic issues and abortion under Biden’s presidency. Similarly, Biden made false claims accusing Trump of attempting to eliminate Social Security, among others.

Finally, the debate ended with Trump gaining the upper hand due to Biden’s slow reaction to issues such as immigration. 

Cryptocurrencies Play a Major Role in the US Presidential Race

Bitcoin’s price increase during the debate showed the relationship between the upcoming elections and the crypto market. Donald Trump shifted to a pro-crypto stance, claiming he would end Biden’s war on cryptocurrencies.

Trump had already criticized Biden’s stance on crypto in the past, with the disapproval of the US SEC SAB 121 application as an example.

Earlier, in a May 25 post on the social media platform Truth Social, Trump talked about cryptocurrencies, showing his positive and open-minded position toward crypto companies and all technology related to the industry.

Also, in a special address in West Virginia, Florida, Trump promised to end Biden’s war on crypto, stating that the future of Bitcoin will be made in America, with Florida as the focus area.

He also believes that the United States must be the leader in cryptocurrency pursuits. Trump stated that crooked Joe Biden, the worst president in US history, wants crypto to die a slow and painful death.

However, if elected, he assured his supporters that cryptocurrencies would thrive under his administration. Additionally, he declared his support for Bitcoin mining, claiming it might be the last line of defense against a CBDC.

He believes that Biden’s hatred for crypto helps China, Russia, and the Radical Communists. Further, Trump expressed his desire for all the remaining Bitcoins to be mined in the USA.

The question is whether Trump’s support for cryptocurrencies is genuine or a leverage to win elections. For now, the interest is beneficial to the crypto market, which has shown a slight improvement in the past 24 hours.