Bitcoin
McAfee 2020: The Bitcoin (BTC) Candidate
2020 is just around the corner and soon Americans will be choosing the leader of the free world (again). And while most of the red white and blue-blooded patriots of the US will waffle between the inevitable Republican and Democratic candidates, a few of us will be looking into the alternatives offered by various third parties.
Lucky for us, one of those third-party candidates have already come forward. Internet security guru and champion of the cryptoverse, John McAfee, has officially thrown his hat in the ring. Running as a Libertarian, McAfee is making headlines and lighting up the twitter feeds with a brand new political platform designed to bring awareness to blockchain technologies while securing the civil liberties of our internet personas.
And it couldn’t come soon enough.
As we watch our malevolent overlords rip apart what’s left of net neutrality, it has become increasingly difficult to find a voice defending the people’s right to a free and open internet experience.
Between Silicon Valley collectively banning conservative opposition to their progressive agendas, and conservative politicians granting corporations ever intrusive access to your personal information, it seems we are left deciding between two sides of the same tyrannical coin. Whether liberal or conservative, the leaders of the two-party system seem to want the same thing: control of your data. A McAfee White House may flip that coin on its head.
But for investors in the altcoin space, there may be a better reason to cheer the candidacy of John McAfee; There is perhaps no better platform for enlightening the masses about the benefits of blockchain tech. And the coin(s) to benefit from an increased interest in cryptocurrency are likely already hodl’d in our digital wallets.
If you weren’t already, it may behoove you to take note of the coins pumped by this eccentric candidate as we get closer to election season.
Currently, McAfee remains vocal about his predictions concerning Bitcoin (BTC), but he has also recently expressed interest in Swarm (SWM) and decentralized exchanges like EOSfinex and the Binance DEX. Going forward, these coins and exchanges may deserve a second look from each of us as McAfee expands his influence into the media circus surrounding the 2020 presidential election.
In 2016 John McAfee was on the presidential stage helping define the debate surrounding cybersecurity. This time around he will introduce Bitcoin (BTC) to a curious public ready for a new investment strategy. With Rob Loggia, his presidential campaign manager, already laying the foundation for his historic 2020 run, McAfee stands ready to attack the media with a non-stop 2-year crypto-blitz of valuable information on the importance of his favorite decentralized coins.
Despite the seriousness of his rhetoric, McAfee has made it clear that he does not expect to win the presidency. The purpose of his running for president is to bring decentralization and the benefits of cryptocurrency into the American consciousness. To McAfee (and to investors in the cryptoverse) getting your vote is less important than raising your awareness… and perhaps the price of your favorite altcoin.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.
Fundamentals
Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.
Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.
Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.
Last week on Thursday, cryptocurrency experts took notice of…
Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.
Economic Outlook
Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.
The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.
Additionally, the central bank indicated that three rate…
Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.
Fundamentals
Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.
According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.
Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…
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