Cryptocurrency
Political Turmoil and Crypto Markets React to Biden's COVID-19 Diagnosis
Friday. July 19 at 12:30 AM
1 min. readThe news of President Joe Biden testing positive for COVID-19 has had a significant impact on both political and crypto markets. Speculators on the decentralized betting platform Polymarket have adjusted their forecasts regarding Biden's political future, with odds of him withdrawing from the presidential race surging to 69%. This shift was accompanied by a sharp decline in a Joe Biden-themed meme coin. Vice President Kamala Harris has seen a surge in betting odds, surpassing Biden as the more likely Democratic candidate. The Biden-themed meme coin, 'Jeo Boden' (BODEN), has plummeted in value by nearly 25% in the past 24 hours, reflecting uncertainties surrounding his re-election efforts. Meanwhile, the Kamala Harris-themed meme coin, 'Kamala Horris' (KAMA), has skyrocketed over 101%. The political turbulence also extends to former President Donald Trump, whose chances of winning the next election increased to 64% after an assassination attempt. The market's response to these events indicates a shifting landscape in both politics and crypto markets.