Bitcoin surges to two-week high following assassination attempt on Donald Trump
The incident, in which Trump was shot in the ear but is reportedly doing well, has bolstered market sentiment regarding his re-election prospects, positively influencing the cryptocurrency market.
Bitcoin surged to a two-week high on Monday following the attempted assassination of US presidential candidate Donald Trump. Trump, who was shot in the ear during a rally in Pennsylvania, is recovering well, according to his campaign. The attack is seen by some investors as boosting his chances of winning the upcoming election, leading to increased trades betting on his victory.
The cryptocurrency saw an 8.6% rise, reaching $62,508, with a session high of $62,698, marking a 47% annual gain. Ether also experienced a boost, climbing 6.8% to $3,322. Trump has criticised Democratic efforts to regulate the crypto sector and positioned himself as a pro-crypto candidate, which has resonated with the market.
Market analyst Tony Sycamore from IG noted that the assassination attempt has significantly bolstered Bitcoin, adding that the cryptocurrency could see further gains. Trump is set to speak at the Bitcoin 2024 conference in Nashville on 27 July, a move likely to keep the crypto market’s focus on his campaign. Despite a rocky start to July, Bitcoin’s recent rebound suggests it could approach $65,000 by the end of the week.
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