Massive Volatility in Cryptocurrency Markets Following Donald Trump Shooting

The biggest news story of the last 24 hours is that Republican presidential candidate Donald Trump was shot at a rally in Pennsylvania.

The news has been making headlines in the past few hours and even caused massive volatility in the cryptocurrency markets over the weekend, which is quite atypical.

According to recent reports, 20-year-old Thomas Matthew Crooks has been identified as the “involved subject” in the attempted assassination of former U.S. President Donald J. Trump.

The shooting happened less than 12 hours ago at a rally in Butler, Pennsylvania. Trump was taken off the main stage with blood on his ear and face.

It was the first public shooting of a senior US politician in more than 40 years, since Ronald Reagan was shot dead by John Hinkley Jr in 1981.

According to According to the BBC, Trump was taken to a local hospital but has already been released and returned to his home in New Jersey.

During his first presidency, Trump was a vocal critic of Bitcoin and the crypto industry as a whole, but he has changed his stance during his current campaign, unlike current President Joe Biden.

It is therefore not surprising that the shooting had a dramatic effect on the cryptocurrency market, with high volatility in most assets.

Weekends are usually quite disappointing for BTC, but the events that occurred on Saturday (US time) saw several significant price movements, including a surge from $58,300 to $60,400 in a matter of hours.

Despite losing some ground since then, bitcoin still sits near the $60,000 mark it lost earlier this month.

Bitcoin/Price/Chart 14.07.2024. Source: TradingView

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