Bitcoin has emerged as a significant beneficiary of the current political turmoil in the US. Following the announcement that President Joe Biden will not be running in the upcoming Presidential race against Donald Trump, Bitcoin’s price surged to $68,007 on international exchanges, marking its highest level in June and July.
On exchanges like BuyUCoin, Bitcoin is trading at $68,080. Despite this spike in Bitcoin’s value, the overall crypto market showed mixed movements, indicating increased volatility among altcoins.
“Bitcoin has bounced back to the $68,000 mark as market participants show optimism about Donald Trump’s potential election win. BTC is now eyeing the $70,000 level, signaling continued positive sentiment,” commented market analysts.
