Regulation
‘Crypto President’ Trump’s ‘Less Strict’ Regulation Will Bless Coinbase’s Bitcoin Leverage, Expert Says – Coinbase Glb (NASDAQ:COIN)
Chris SenyekChief Investment Strategist at Wolfe Researchrecently expressed his views on the potential impact of a Donald Trump win the 2024 elections on the cryptocurrency market.
What happened:Senyek suggested that a Trump presidency could loosen cryptocurrency regulations, benefiting companies like Coinbase Global Inc. COIN because of their importance Bitcoin BTC/USD Leverage.
“Trump would be less harsh on cryptocurrency regulation, and Coinbase would benefit greatly from that given its influence on Bitcoin,” Senyek said on CNBC’s “Last Call” on Tuesday.
See also: Boost Your Retirement Portfolio: The Benefits of Adding Cryptocurrency
Because matterSenyek’s comments come in the context of the former president Donald Trump‘S reported plans for participation at the 2024 Bitcoin convention, which could strengthen his image as the “Cryptocurrency President.”
Trump’s potential attendance at the 2024 Bitcoin Convention, a key event in the cryptocurrency calendar, could have significant implications for the industry.
Pratik KalaHead of Research at DigitalX Limitedhas predicted Trump’s victory in the upcoming elections, but warns that immediate regulations in favor of cryptocurrencies may not be a priority.
A recent report by Search 10x explore the recent increase in the price of Bitcoin and its potential connection to Trump’s strong position in the 2024 election race. The report, titled “Is The Bitcoin Trump Pump Sustainable?”, highlights a 4% rally in the price of Bitcoin following the news that President Joe Biden will remain in the race despite a poor performance in the presidential debate.
Price Action: At the time of writing, Bitcoin was down 2.10% to $60,860.66, according to Benzinga Pro.
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