Crypto enthusiasts who were hoping that yesterday’s presidential debate would include Bitcoin (BTC-USD) as a topic would’ve been disappointed. In fact, U.S. President Joe Biden and presidential candidate Donald Trump did not mention any cryptocurrencies, despite significant lobbying efforts and millions raised by crypto-backed political action committees.
Trump has previously expressed support for cryptocurrency, promising to end Biden’s “war on crypto” if elected. Still, despite the significant political spending, Gallup polls show that issues like the economy, inflation, and immigration are top priorities for American voters. As a result, the CNN-hosted debate focused on topics like the economy, abortion rights, immigration, and foreign policy, along with the candidates’ ages and mental capabilities.
Peter Thiel Shares His Thoughts on Bitcoin
Although the presidential candidates didn’t talk about Bitcoin, one influential investor did. At the Aspen Ideas Festival in Colorado, billionaire Peter Thiel, who is a notable Bitcoin bull, said that he’s not sure that the cryptocurrency is going to go up that dramatically from here. However, that doesn’t mean Bitcoin won’t continue to see more outsized gains; they just might not be as much as investors are used to.
Is Bitcoin a Good Investment?
Using TipRanks’ technical analysis tool, the indicators seem to point to a negative outlook for Bitcoin. Indeed, the summary section pictured below shows that seven indicators are Bullish, compared to four Neutral and 11 Bearish indicators.
