Markets
Cryptocurrency ‘Trump Trade’ on Hold as Other Factors Captivate the Market (BTC, ETH)
President Joe Biden’s poor performance in a debate last week boosted the prospects of Donald Trump, his embracing crypto opponent, to return to the White House.
So why is it? Bitcoin is actually trading below where it was before the debate? And why are so-called smaller altcoins doing even worse? Traders say the market is being led by other catalysts at the moment, including the expected sell-off of Bitcoin being released from the estate of the failed exchange Mount Gox and “unlocks” or distributions of additional tokens issued by minor digital currencies.