Bitcoin drops $2,000 in minutes after President Joe Biden ends 2024 campaign

The price of Bitcoin continues to be heavily affected by the political scene in the United States. After the failed assassination attempt against Donald Trump last weekend, this time news about his opponent shook the markets.

However, the cryptocurrency managed to bounce back to almost $67,000 almost immediately.

The current president of the United States, Joe Biden, ended his campaign for the 2024 presidential election an hour ago, saying that it was a decision made “in the best interest of my party and the country.”

This comes just days after the POTUS was reported to be suffering from COVID and the resulting uncertainty about his health status given his age.

“And while it has been my intention to seek re-election, I believe it is in the best interest of my party and the country that I step down and focus solely on fulfilling my duties as president for the remainder of my term,” he says. a statement from Biden.

It’s worth noting that numerous high-ranking members of the Democratic party have called for her to withdraw from the race after a terrible debate she had against Donald Trump last month.

Biden’s decision affected crypto markets, which are always open, and the price of BTC fell by about two thousand in minutes, from more than $67,500 to $65,750.

However, the asset recovered most of the losses just as quickly and is now back near $67,000.

Bitcoin/Price/Chart 07/21/2024. Source: TradingView

Remember the events of last weekend when Trump survived an assassination attempt and the price of BTC skyrocketed in the following days since he became the so-called “crypto candidate”.

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