Markets
Bitcoin surges after Trump survives assassination attempt
The price of Bitcoin skyrocketed after an assassination attempt on former US President Donald Trump at a campaign event in Pennsylvania on July 13.
After the incident, the value of bitcoin increased by 4%, reaching $60,300. This is the highest level in the last 10 days, reversing the recent downward trend.
Why Bitcoin Price Surged After Trump Assassination Attempt
The market’s positive response to the event has intrigued the crypto community, sparking debates about the reasons for the price increase.
Blockchain intelligence platform Santiment attributed the surge to bullish sentiment around the 2024 U.S. presidential candidate. The firm noted that the crypto community showed positive reactions to the news of the assassination attempt due to Trump’s recent favorable comments about the crypto industry. This incident is seen as pro-Trump newswhich led to a bullish response.
“Regardless of your political stance (or lack thereof), note how these types of market reactions will continue to any notable new U.S. policy for at least the remainder of 2024, especially in a sector that remains speculatively driven like cryptocurrency,” Santiment said. added.
Learn more: Bitcoin (BTC) Price Prediction 2024/2025/2030
Bitcoin’s reaction to Trump’s assassination attempt. Source: Santiment
Will Clemente, co-founder of Reflexivity Research, echoes this sentiment. He suggested that markets are beginning to price in a full Trump victory in the upcoming November election.
“Based on Bitcoin’s reaction so far, it looks like markets are going to start pricing in a full Trump victory,” he said. declared.
Interestingly, Polymarkets data shows that the shootout improved its chances of winning. According to the platform, crypto punters believe that Trump has a 70% chance of winning Elections compared to the President Joe Biden, whose chances have fallen to 15%.
In recent months, Trump has become a favorite among the Bitcoin and crypto community. He has vowed to protect the right to hold Bitcoins and will be one of the main speakers at the Bitcoin Conference 2024 Later this month.
Learn more: How can blockchain be used for voting in 2024?
These actions have earned him the support of prominent figures in the crypto industry, including Ark Invest CEO Cathie Wood and Tyler and Cameron Winklevoss, Founders of Gemini ExchangeIt is worth noting that Elon Musk and billionaire investor Bill Ackman are also supporting his re-election bid.
“I fully support President Trump and hope he recovers quickly,” Musk said. declared.
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