Bitcoin surges past $60k following assassination attempt on Trump
9:38 AM EDT, July 14, 2024
The price of bitcoin has surged above $60,000, likely in response to the failed assassination attempt on Donald Trump during a rally in Pennsylvania. Experts believe this incident has enhanced the former president's chances of re-election.
On Saturday, during Trump's political rally in Pennsylvania, there was a shooting incident. The former president was hit in the right ear, but his campaign staff reported that he is "in good condition" and plans to attend the Republican Convention starting Monday in Milwaukee.
The initial market reaction to these events was a 2.7% increase in bitcoin's price to $60,161. Analysts attribute this rise to an increase in Trump's chances of being re-elected, as indicated by data from the PredictIt platform.
Bitcoin may grow
Bitcoin's rise above $60,000 comes after a period of relative stability. This stability was primarily due to the introduction of new financial instruments facilitating cryptocurrency trading, such as ETF funds. These instruments allowed large-scale transactions by market giants like BlackRock Inc. and Fidelity Investments. Experts believe these financial instruments can sustain demand for the cryptocurrency and help reduce its price volatility.
Market analysts also note that the perception of Trump as a politician favorable to cryptocurrencies might further influence bitcoin prices in the context of the upcoming presidential elections.
Assassination attempt on Donald Trump. Wave of comments
Social media and television were inundated with images of Trump with a clenched fist raised above his head, a bloody right ear, and the American flag in the background. These images could significantly impact public opinion and the election campaign.
Current President Joe Biden commented on the incident, expressing relief that Trump is safe and condemning the act of violence. Experts predict that markets might react with increased volatility on Monday, similar to the reaction after the last debate, which was favorable for Trump. At that time, the US dollar gained value, and Treasury bond yields increased.
