Bitcoin price rises to $65k after Harris support and Mt Gox delays token distributions

From Investing.com
October 15, 2024
1:51 AM:

– Bitcoin’s price rose on Tuesday after Kamala Harris pledged support for a regulatory framework for crypto. BTC traded at $65,395.0, slightly off weekend highs, as optimism grew due to Harris’ commitment and Mt Gox postponing token distributions.

– Harris promised easier access to the crypto industry for black men in her presidential campaign against Donald Trump, who has shown pro-crypto stance. Traders looked past regulatory concerns as Harris pledges support for crypto, diverging from Biden Administration’s crackdown efforts.

– Mt Gox, a defunct crypto exchange, announced a year-long delay in returning stolen Bitcoins to creditors, initially sparking Bitcoin losses. A staggered token distribution by Mt Gox eased immediate selling pressure on Bitcoin prices, positively impacting the crypto market with altcoins tracking Bitcoin’s uptrend.

– Altcoins like Ethereum, Cardano, and Binance Coin rose between 1% to 2%, with meme token Dogecoin adding 3.4%. Despite recent gains, most crypto tokens were incurring losses in the past two weeks, impacted by a lack of major positive industry developments.

Read more at Investing.com: upbeat at $65k on Harris pledge, Mt Gox cheer By Investing.com