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Top 5 Presidential Candidates Thoughts About Bitcoin

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The cryptocurrency space is growing larger and has more impact on our everyday life with each new year. Despite the low prices and market crashes in 2018, the situation on the market seems to be taking a turn for the better, especially after a new surge that started on February 8th. However, as we progress through another year of cryptos’ fight for survival and adoption, the 2020 US Presidential Elections continue to approach.

With that in mind, it might be worth knowing what the current major Presidential candidates think about the crypto space, and Bitcoin (BTC), in particular. Of course, no one can know who will get elected and whether the next US President will be a crypto investor or someone who will have no problems with imposing even stricter regulations that might limit the market’s potentials.

Even so, we can at least see what they had to say about the crypto industry, and form some sort of expectations regarding the future based on that. It should be noted that the list does not include every candidate, only the major ones, and those who decided to take a notable stance towards Bitcoin.

1) Cory Booker

Let’s start with the Democratic candidates, the first of which on our list is Senator Cory Booker. Unfortunately, Sen. Booker did not reveal what his thoughts are on Bitcoin and the crypto industry, even though he sits on the Senate Commerce Subcommittee on Communications Technology, Innovation, and the Internet. While there is still a long way to go before the elections, and he might reveal his stance at some point during that time, right now he remains distant from the issue.

2) Tulsi Gabbard

Next, we have Representative Tulsi Gabbard, who has yet to reveal her formal thoughts on the crypto space. However, it is known that she invested in at least two coin — Ethereum (ETH) and Litecoin (LTC) — during the crypto hype. It has been a while since then, and the crypto space suffered a lot of damage, which may have changed her opinion about cryptos. It is also unknown whether or not she still holds the coins she invested in before, but at some point at least, the representative from Hawaii was definitely interested in digital coins.

3) Elizabeth Warren

Now, when it comes to Senator Elizabeth Warren, we do have an opinion on crypto, although it is not a bullish one. Senator Warren has criticized the crypto space in the past, and she stated that the regulators should do more in terms of overseeing the crypto space. The Senator remains concerned that the unpredictable and volatile assets might end up damaging retailers, and that consumers will get hurt as well. She is also known for being particularly skeptical when it comes to ICOs (Initial Coin Offerings), believing them to be a scam right from the start.

4) Donald Trump

Stepping away from the Democratic candidates, let’s see what the situation is like among the Republicans. The current US President, Donald Trump, has never addressed the crypto issue by providing his own thoughts on the matter. However, several members of his administration (current and former alike) were bullish on the digital currency space. White House Chief of Staff, Mick Mulvaney, for example, compared Bitcoin to USD back in 2016, praising the coin and claiming that it cannot be manipulated by any government.

Another crypto bull from the Trump Administration is a former White House adviser, Steve Bannon. He even revealed that he actually owns a certain amount of BTC and that he wanted to launch utility tokens. The Trump transition team’s Peter Thiel, who is also a billionaire venture capitalist, stated multiple times that Bitcoin is digital gold, and he even invested in several blockchain projects.

Then, there are White House Press Secretary, Sarah Huckabee Sanders, and the US Treasury Secretary Steven Mnuchin, who had less praise for BTC and more concern, stating that the cryptocurrency is being monitored.

While there are no Republican candidates willing to stand against Donald Trump in the 2020 Presidential Election race, there are some third-party candidates whose views on crypto might be interesting, just like their campaigns.

5) John McAfee

John McAfee has had a colorful life, and his latest interests revolve heavily around Bitcoin and the crypto industry. It is well-known that no other candidate is more bullish on Bitcoin than McAfee, who even claims that Bitcoin will hit the price of $1,000,000 by 2020. McAfee has attempted to run for the US President before as well, and his new campaign has attracted additional attention as he plans to run it from international waters, due to the fact that he is on the run from the IRS.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

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Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

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Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

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Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

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Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

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