US President Donald Trump is confident about his country’s dominance regarding Bitcoin and crypto as a whole. The president has again declared that the US is leading the way in these crypto assets, ahead of his much-anticipated crypto dinner, where he will host top holders of his TRUMP meme coin. Donald Trump Asserts US Dominance In Crypto & Bitcoin In a Truth Social post, the president stated that the USA is dominating in crypto and Bitcoin and that they are going to keep it that way. He made this statement while revealing that he would soon be heading to the crypto dinner in Loudon County, Virginia. This isn’t the first time the US president has boldly asserted the US dominance in crypto. As CoinGape reported, Trump once claimed that the US is ahead of China in crypto. He also made it clear from the start of his campaign last year… Read More at Coingape.com
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]]>The Bitcoin price today is up as Donald Trump made a crypto payment using the flagship crypto while buying food for supporters during a campaign stop in New York. This development again highlights how much the former US President could impact the crypto’s price, with analysts predicting a Bitcoin price surge if Trump wins.
Bitcoin Price Surges Following Donald Trump’s Crypto Payment
Bitcoin is up over 9% since the former US President used the crypto to make a payment at the PubKey bar in New York during a campaign stop. Trump bought almost $1,000 worth of burgers and drinks for the supporters at the bar.
The moment was historic as Donald Trump became the first president to transact in BTC. As such, this explains why the BTC price has surged following this event. Nate Geraci, the President of the ETF Store, highlighted how “highly noteworthy” this was for the cryptocurrency. He claimed that this shows that Bitcoin now matters.
Earlier this year, Trump declared his support for flagship crypto and other cryptocurrencies. He has gone as far as calling himself the ‘Crypto President.’ His newfound love for crypto is also believed to have led him to launch his DeFi crypto project – World Liberty Financial.
Based on Trump’s pro-crypto stance, experts like Bernstein analysts have projected that the flagship crypto could rise to as high as $90,000 if he wins the November elections. The Bitcoin price today proves that these analysts might have a point, seeing how it has surged since Donald Trump’s crypto payment in New York.
Specifically, Trump’s victory could spark a bullish sentiment towards BTC, just like it did following his payment. A crypto community member, known as ‘Chairman’ on the X platform and with over 800,000 followers, stated that Bitcoin would hit $100,000 if Trump wins. Jake Gagain, a crypto influencer, remarked this was “so bullish.”
Meanwhile, although Trump’s crypto payment could have impacted the Bitcoin price today, it is also worth mentioning the Fed rate cut, which has also provided bullish momentum for the flagship crypto.
Bitcoin’s Fate Rests On The Elections
Economist Alex Krüger stated that Bitcoin’s path is still “heavily dependent” on who wins the US presidential elections. The economist suggested that the Bitcoin price would surge if Donald Trump wins in November. Besides BTC, Krüger also indicated that altcoins will enjoy a parabolic rally if the former US President comes out on top. He advised market participants to max long these coins if Trump is coming up ahead in the counts on Election night.
The latest Polymarket data shows that Donald Trump has a 48% chance of winning the elections while Kamala Harris has a 51% chance. Following his stop at the Bitcoin bar in New York, Trump urged crypto voters to go out and vote. He added that they cannot lose if they vote.
Indeed, the crypto voters will have a say in the upcoming elections. During an event organized by the ‘Stand With Crypto’ non-profit organization, Coinbase’s CEO Brian Armstrong stated that the crypto electorates exist and that they will have a voice in this election.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
School Dinner Lady Invested $2000 of Her Life Savings into Shiba Inu (SHIB) and became a Millionaire Instantly, Now Invested into HedgeUp (HDUP) NewsBTC
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Klaytn (KLAY) may not be a well-known cryptocurrency. However, it is making a name for itself in the nascent metaverse sector. That is after the native token KLAY more than doubled in value within a single day after a community proposal.
KLAY soared from a bottom price of $0.13 to $0.28 on October 23. A spot check shows that the token has been in a bear market since October 2021. Can the token sustain the surge?
As earlier indicated, Klaytn is crafting a name in the metaverse sector dominated by The SandBox and Decentraland. However, it is a public enterprise blockchain with inroads in non-fungible tokens, gaming, and entertainment. The blockchain is rebuilding to a metaverse scope, enabling users to build, play, and work in virtual environments.
Besides, Klaytn has lined up milestones for the next two years. That includes making the blockchain Ethereum compatible and bringing changes to developer updates and governance. The latest gains in the native token reflect a new update to the network’s tokenomics.
According to an October 23 announcement, Klaytn would slash its block rewards by a third. The block rewards are now 6.4 KLAY, from the previous 9.6 KLAY. The team attributed the change to the global macroeconomic climate. Accordingly, the move will build sustainable growth and attract demand for KLAY. The announcement has ignited interest in the token.
KLAY surges above moving averages as price pumps
Source – TradingView
From the technical lens, KLAY surged above the moving averages amid considerable buyer interest. The cryptocurrency hit near overbought levels as the price doubled.
However, the bullish momentum has since stalled, and KLAY trades at $0.196. A technical outlook shows that the area around $0.25 – $0.30 is a resistance. The price has, therefore, crashed below it.
Should you buy KLAY?
We think buying KLAY now could be a premature decision. There is no confirmed bullish momentum to indicate that the gains are sustainable. Buyers could become attracted if the momentum remains and the token successfully clears $0.30.
Where to buy KLAY
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
CoinEx
Founded in December 2017, CoinEx is a global and professional cryptocurrency exchange service provider. CoinEx supports multiple languages and are providing global trading services in nearly 100 countries/regions.
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