For young people especially, crypto has grown to be a hot button topic in the 2024 US election. Frustrated with the conventional financial system and seeking candidates to push their interest in digital finance solutions and digital currencies, Gen Z and Millennials today account for 40% of the vote, according a recent Coinbase survey. Related […]
Filings show he has over $1 million in Ether.
According to reports, the Trump Organization—the holding company of former US President Donald Trump’s business ventures—would be moving on to present a new cryptocurrency initiative. In an interview, Eric Trump, the son of the ex-president and executive vice president of the organization, revealed that the new venture would deal with “digital real estate” and one […]
One famous political figure, Vivek Ramaswamy, not so long ago shook the markets with his predictions regarding the position that Vice President Kamala Harris would take on cryptocurrencies. In a recent interview, he urged Harris to be clear about her stance on digital assets, insinuating that perhaps she is soon going to join the pro-crypto […]
Market sentiment suggests that a Trump election victory is bullish for crypto and a Harris win would be bearish, the report said.
This week, a new PolitFi token made the headlines amid the crypto market recovery. Restore The Republic (RTR) caught the attention of investors after rumors of being linked to the Trump family surged. The Trump-themed token saw a massive surge after its launch. However, its price quickly plunged after the former US president’s camp denied any links with it. Related Reading: Toncoin Soars 14.8% After Binance Listing, Is TON Poised For A Breakout? Trump-Themed Token Turns Out Fake On Thursday night, a PolitiFi token was surrounded by controversy after it plummeted by over 95% just hours after launching. Restore The Republic was described as a token to “ensure that our nation remains a beacon of freedom, justice, and opportunity.” The memecoin created a buzz among investors as it was suspected to be the Trump Family’s highly anticipated crypto project announcement. As a result, RTR’s price surged over 14,500% following its launch, going from trading at $0.001 to as high as $0.15. The token also hit a market capitalization of $155 million three hours after launching. However, the rapid surge was quickly met with a massive drop after Eric Trump claimed the project wasn’t related to the former US president. In an X post, Eric warned crypto investors of fake tokens, stating that “the only official Trump project has NOT been announced.” He also emphasized that the news would come directly from their camp first. Immediately after, RTR’s market cap nosedived, going from $125 million to $13 million. The token went from trading around the $0.12 mark to $0.007 in less than an hour, leaving many investors with massive losses. On-chain data analysis firm Lookonchain revealed that a crypto whale lost over $800,000 after FOMO-buying the token. Per the report, the investor spent 5,800 SOL, worth $916,400, to buy 7.2 million RTR at its highest price. Due to the price crash, the whale sold the RTR tokens for only 118 SOL, worth around $18,000, resulting in a loss of $898,500 in four hours. Crypto Scam Déjà Vu Online reports revealed that insiders made over $4 million from the memecoin. The newly created wallets bought millions of RTR as it opened trading. The insiders sold the token right after Trump’s camp denied ties to the memecoin. After the price crash, the crypto community discussed the token’s shady launch and promotion. Students for Trump group’s co-founder and chairman, Ryan Fournier, suggested in a now-deleted post that RTR was the official Trump token. Moreover, several KOLs (Key opinion leaders) promoted RTR to their followers, claiming it was the highly anticipated Trump project. After the collapse, some of these influencers affirm to have lost large sums of money. One KOL also claims to possess “legal documentation” that proves Donald Trump Jr.’s involvement with the launch. The crypto community quickly compared this incident to the last “official” token linked to the Republican presidential candidate. Nearly two months ago, DJT made the headlines after being rumored to have been launched by 18-year-old Barron Trump. At the time, other Trump-inspired tokens crashed by over 30%, including the MAGA (TRUMP). However, it was later revealed that the token was created and run by “Pharma bro” Martin Shkreli. Related Reading: Solana Faces Uncertainty: Expert Explains Impact Of Jump’s Rumored Exit Following the RTR debacle, Donald Trump Jr. spoke about cryptocurrencies inspired by his father. He stated that he has “nothing to talk about” regarding these tokens. He also deemed people assuming that all Trump-themed tokens are linked to the family as the problem. The businessman clarified that he loves and respects memecoin culture, but they are not the crypto project they have been teasing. Featured Image from Unsplash.com, Chart from TradingView.com
Proponents of the “Crypto for Harris” may find the political terrain a rough patch to navigate as some sectors have labeled the US election campaign as a fraud. Related Reading: US Judge Orders FTX, Alameda To Pay A Staggering $12.7 Billion To Creditors – Details According to detractors of US Vice President Kamala Harris, the […]
The debacle underscores the wild world of memecoin markets, where grifts and rug pulls abound.
Minnesota Governor Tim Walz will be running partner for Vice President Kamala Harris in the 2024 presidential contest. Unlike Harris’ coastal base, this choice seeks to boost support in important Midwestern battlefield states. Rural and moderate voters find Walz attractive, hence it might be quite important for the Democratic ticket. Related Reading: Recession Worries Spark […]
The roundtable hosted by Representative Ro Khanna is an opportunity for the cryptocurrency industry to influence the policy direction of Vice President Kamala Harris’s election campaign.
The roundtable hosted by Representative Ro Khanna is an opportunity for the cryptocurrency industry to influence the policy direction of Vice President Kamala Harris’s election campaign.
The Presumptive Democratic U.S. presidential nominee cannot afford to cede crypto to Donald Trump and luring crypto voters and donations away could "make a difference in key battleground states," OMFIF wrote.
As Bitcoin carves out a position in the world’s financial landscape, recent events in the US have given it a bright future. At least, this is what an analyst at H.C. Wainwright & Co. sees. Mike Colonnesse offered a weekly study on July 30 outlining several positive elements driving the Bitcoin and BTC mining sector […]
Traders also are skeptical about China 'unbanning' bitcoin
BTC price gains fail to materialize as Donald Trump and others promise to build a giant Bitcoin strategic reserve if elected.
As the 2024 election approaches, the interplay between political strategies and industry dynamics will continue to evolve.
The former and prospective United States president made the announcement at the Bitcoin 2024 conference in Nashville, Tennessee.
Mow aims to influence the political leader to consider Bitcoin a viable and strategic component of the national economy.
Anticipation is at a high degree as the 2024 Bitcoin Conference draws near, driven not just by technical developments but also by the surprising backing of an influential person: Donald Trump. Related Reading: Is The US Emulating Germany? $4 Million Bitcoin Movement Raises Questions The surprising acceptance of Bitcoin by the former president may change the crypto scene and throw lengthy shadows over political debate and market projections. Here is a look at how Trump’s potential presidency can impact the direction of the crypto. The Bitcoin Turnaround Of Trump Once a strong opponent of Bitcoin, Donald Trump has changed his language dramatically. Even suggesting Bitcoin as a possible reserve currency alongside the US dollar, his campaign has aggressively embraced the digital asset. This fresh zeal differs greatly from his past posture, where he wrote out Bitcoin as a “scam.” In recent discussions, the former president has labeled Bitcoin as “digital gold.” His campaign vows to boost the digital asset’s acceptability. This might give companies and investors more confidence, adding more appeal to Bitcoin. Regulatory Change And Economic Effects Trump’s possible impact on Bitcoin is mostly dependent on his attitude to regulation. Given JD Vance’s pro-crypto posture, Trump’s choice of running mate suggests a likely tsunami of favorable crypto laws. Clearer rules and more institutional Bitcoin investment might find their path in this regulatory climate. Another important element for the dynamics of Bitcoin’s price might be Trump’s economic plans. His platform emphasizes on lowering inflation and enhancing economic stability—qualities that directly influence the value of Bitcoin. Trump’s economic policies were blamed with a somewhat consistent investment environment over his past presidency. Should he be successful in fostering a better economic climate, Bitcoin would gain from more liquidity and investor confidence. Conjecture And Market Responses The market for Bitcoin is driven by speculation, hence Trump’s close relationship with the crypto asset has magnified this influence. Recent events, like the attempted murder of Trump, have demonstrated how drastically market mood may respond to political changes. After the episode, the crypto enjoyed a big surge; meme coins and market mood reflected the great stakes of Trump’s involvement. Meanwhile, post-assassination attempt, the former commander in chief’s ratings against Biden rose somewhat (see chart below). Trump’s erratic political path fuels even more conjecture about his possible administration. The result of the election is still unknown even if Kamala Harris is becoming a strong competitor. Harris’s opinion on Bitcoin might potentially affect market dynamics, therefore adding even another level of intricacy to the future of the currency. Analyses disagree on the possible effect of a Trump win on the price of Bitcoin as the election gets near. While some see a positive trend with Bitcoin maybe skyrocketing above $100,000, others remain wary expecting firmer indications from Trump’s campaign and plans. BTC Price Forecast Technical signs show Bitcoin will rise significantly in the following week. The cryptocurrency is trading 33% below our monthly projection, predicting a comeback if market circumstances improve. Bullish indications like a rising moving average and a stronger Relative Strength Index (RSI) imply BTC might rectify its undervaluation and reach the forecasted price goal. Related Reading: Ethereum Name Service (ENS) 153% Rally ‘Underway’, Analyst Says Bitcoin’s expected three-month rise of 536% and six-month growth of 53% shows investor confidence. Analysts expect a 148% growth in BTC over one year, indicating its long-term potential. Positive trendline breakouts and solid support levels back this projection. Institutional interest and favourable macroeconomic conditions might boost Bitcoin’s price in the long run. Featured image from Getty Images, chart from TradingView
The Bitcoin bull market is in full swing, as proved by the BTC futures premium reaching a five-week high.
The Bitcoin bull market is in full swing, as proved by the BTC futures premium reaching a five-week high.
The bitcoin price is currently too high versus its production cost and relative to its volatility-adjusted comparison to gold, the report said.
As the Bitcoin 2024 conference in Nashville draws near, scheduled for July 25-27, the BTC community braces for what could be a pivotal moment in Bitcoin’s history. The event is attracting unprecedented attention, possibly set to surpass the landmark announcement in 2021 by Jack Mallers that El Salvador would adopt Bitcoin as legal tender. The anticipation around the conference has been significantly amplified by the scheduled appearance of Donald Trump, the leading US presidential candidate. Rumors that began circulating last week have suggested that Trump might endorse Bitcoin as a potential reserve asset should he win the presidential election in November. These speculations were further fueled by Dennis Porter, founder of the regulatory advocacy group Satoshi Act Fund, who posted on social media platform X about an unconfirmed leak claiming that Trump plans to “announce a USA bitcoin strategic reserve in Nashville,” citing sources wishing to remain anonymous. Bitcoin Could See A “$100,000 Trinity Candle” Amidst this backdrop, Dan Ripoll, a former managing director at financial service company Swan and now a professional trader, outlined a bold scenario that could potentially more than double Bitcoin’s price instantly if Trump’s plans come to fruition. Speaking on X, Ripoll described the possibility as “one of the most gangster moves” Trump could make. Related Reading: Here Are 5 Reasons To Be Bullish On Bitcoin, Analyst Says His hypothetical involves Trump announcing at the conference that he has significantly invested in Bitcoin and plans to integrate it into the US Strategic Reserve. “Get balls long BTC (as in thousands of coins) going into the Bitcoin Conference next week. Announce plans to put BTC in the US Strategic Reserve. BTC goes vertical with a $100,000 Trinity Candle. Trump quintuples his net worth overnight. He never sells,” Ripoll theorized. According to him, such an action would not only enhance Trump’s net worth but also be positive for BTC hodlers if he keeps his promise. “Then, he should actually follow through with that promise and start accumulating BTC once in office. Everyone wins. Gensler comes after Trump for market manipulation. Trump to Gensler: “You’re Fired”, Ripoll added. Ripoll also suggested that the Democratic Party could potentially undercut Trump’s impact by adopting a pro-Bitcoin stance before the elections, though he expressed skepticism about their willingness to make such a move. Ripoll stated: “The Democrats could steal his thunder by coming out in favor of BTC before the election. But they won’t do it. It makes one question, how badly to the Dems want to win this thing?” Reactions From The BTC Community The reactions within the Bitcoin community to this speculative scenario has been mixed. Eugene Gant expressed skepticism about the broader implications of linking Bitcoin with potential political maneuvers, questioning the ethicality of leveraging a public position for personal financial gain through cryptocurrency. Ripoll responded by emphasizing the broader benefits if America adopts Bitcoin as a reserve asset, suggesting that tying the dollar to “hard money” could stabilize the currency and benefit holders of Bitcoin. Related Reading: Bitcoin Option Traders Are Betting On A Price Breakout Ahead Of US Elections: QCP Capital Another community member, Steve, voiced concerns that Trump’s history of promoting and then divesting personal ventures could indicate a similar strategy with Bitcoin—buying low, pumping the price, and then selling high. Ripoll countered by noting the common trajectory from skepticism to support within the Bitcoin community, suggesting it wouldn’t be surprising if Trump had genuinely shifted his stance. The expert concluded: “Everyone who is a bitcoin maximalist started off as a bitcoin skeptic. Every single one of us. It would not be surprising to see that he actually learned about it and changed his tune. That is the path.” The anticipation for the Bitcoin 2024 conference featuring Trump is clearly visible in the BTC price action over the past days. At press time, BTC traded at $67,373, up more than 24% in the past two weeks. Featured image created with DALL.E, chart from TradingView.com
President Joe Biden said during an interview that if a medical condition emerged, he'd consider dropping out of the race.
The recent remarks by leading US presidential candidate Donald Trump regarding Bitcoin’s potential role as a strategic reserve asset for the United States have ignited substantial discussions among policymakers, legal experts, and financial analysts. While Forbes reported on the potential move, it is David Bailey, CEO of Bitcoin Magazine and advisor to the Trump campaign, […]
Trump’s presidential campaign has raised about $3 million in crypto, mostly bitcoin and ether.
Prospective Republican Party presidential candidate Donald Trump announced on July 15 via Truth Social that Senator JD Vance, a notable proponent of crypto, will join his ticket as the vice-presidential candidate for the 2024 election. This decision could herald a profound shift in the US government’s approach towards cryptocurrencies, potentially ushering in a more favorable […]
The Trump-inspired tokens surged around 40% following Donald Trump’s assassination attempt. As a result, PolitiFi tokens closed the week, outperforming most categories in the industry. The remarkable performance earned some crypto whales millions in profits from the MAGA (TRUMP) memecoin. Related Reading: 1,000 Bitcoin On The Move: Satoshi-Era Whale Stirs The Crypto Waters Crypto Whale Profits From TRUMP Memecoin On Sunday, on-chain tracking platform Lookonchain reported that a crypto whale had made millions from a Trump-inspired memecoin. An address deposited all their TRUMP holdings to the crypto exchange BTSE. Per the report, the whale bought 1.08 million TRUMP between November 22 and December 4, 2023. The address acquired the tokens at an average price of $0.5, spending $540,000 for the memecoin. Seemingly, the whale made $8.85 million from the tokens, $8.3 million of which were profits. Per Lookonchain, the wallet was suspected to be owned by renowned crypto trader GCR. However, it was later confirmed the address in question wasn’t related to the crypto trader. Lookonchain also reported another address holding a significant amount of the Trump-inspired memecoin. The second address, also suspected to be linked to the crypto trader, has $6.5 million in unrealized profits from TRUMP. The whale wallet tagged “GCR: Address 1” spent over $700,000 to buy 936,279 TRUMP. The address bought the tokens at an average of $0.75 between December 8, 2023, and January 18, 2024. At the time of the report, the whale’s holdings were worth around $7.23 million. Nonetheless, it hasn’t been confirmed if this address is linked to the renowned crypto trader. PolitiFi And Trump-Inspired Tokens Soar Over the weekend, former US President Donald Trump survived an assassination attempt. The Republican Presidential Candidate got shot in the ear during a campaign rally in Butner, Pennsylvania. Following the news, PolitiFi tokens soared over 30%. DeFi creator and analyst Jake Pahor shared that the PolitiFi sector outperformed most categories over the weekend. Pahor cited DeFiLlama data, revealing that PolitiFi tokens rose 36.7% last week. The DeFi analyst also noted that “all categories outperformed Bitcoin over the past 7 days, possibly indicating a shift towards a risk-on environment.” Before the failed Trump assassination attempt, Trump-inspired memecoins saw a pump. The tokens surged after the former US President was announced as a keynote speaker at the Bitcoin 2024 Conference on July 27. TRUMP’s price went from $5.74 to $6.54 after the news. This performance represented a 15% and 39.5% surge in the daily and weekly timeframes. Since then, the biggest Trump-themed memecoin has seen a 35% rise, fueled by the most recent incident. Following the assassination attempt, the token went from the $6.3 price range to the $9.51 mark, increasing by over 50% in twelve hours. On Sunday, the memecoin hovered between the $7.3-$7.9 price range, starting the week trading at $7.47. Related Reading: Notcoin (NOT) Ignites Crypto Market, Analyst Predicts 25% Rally As of this writing, TRUMP exchanges hands at $8.15, a 3.8% increase in the last day. This performance also represents a 35.3% and 22.2% rise in the one-week and two-week timeframes. Featured Image from Unsplash.com, Chart from TradingView.com
His appearance in Nashville, still a go despite injuries sustained in Saturday's shooting, will cement cryptocurrency as a mainstream political topic.