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Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Bitcoin soared after Kamala Harris's statement on supporting the regulatory framework for cryptocurrencies

October, 15 2024
watermark Economic news

The price of bitcoin rose sharply on Monday evening after Democratic presidential candidate Kamala Harris promised to support the regulatory framework for cryptocurrencies.


The world's largest cryptocurrency has peaked since the end of July, surpassing the $66,555 mark. After the spurt, prices partially rolled back, trading under moderate pressure on Tuesday. Now bitcoin is trading around $65,700, having lost 1.28% since the beginning of the day.


Vice President Harris on Monday announced her support for the regulatory framework for cryptocurrencies, but the details of her plan are still unknown.


This statement was one of the first mentions of cryptocurrency policy in her campaign speeches and raised hopes for a softer stance towards the cryptocurrency industry than the Biden administration.


Harris' promise helped traders ignore concerns about new regulatory moves against cryptocurrencies. This happened after the Securities and Exchange Commission sued one of the largest cryptocurrency market makers last week.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.