- After Donald Trump’s assassination attempt, Bitcoin reached a two-week high.
- Trump’s pro-crypto stance has boosted his election odds prediction to 71% in the polls.
As a seasoned market analyst with over two decades of experience, I have witnessed numerous events that have impacted financial markets, both positively and negatively. However, the recent assassination attempt on former President Donald Trump during a political rally in Pennsylvania was an unprecedented event that sent shockwaves across the globe.
The attempted assassination of ex-President Donald Trump on July 14th at a rally in Butler, Pennsylvania, has intensified the political rift in the country even more.
Trump’s resilience towards the crypto community
As a researcher studying the dynamic interplay of politics and cryptocurrencies during times of uncertainty, I’ve noticed an intriguing development: despite the escalating tensions, former President Trump has unequivocally expressed his intent to attend the forthcoming Bitcoin Conference in Nashville, Tennessee. This decision has generated significant waves within the crypto community, amplifying its importance and attention on a global scale.
Affirming Trump’s attendance, David Bailey, who is both an organizer of the event and the CEO of Bitcoin Magazine, expressed this on X.
“The President’s group has recently updated me. He’s looking forward to your company in Nashville and eager to share a globally significant speech with you all.”
The organizers further confirmed this news and stated,
Unexpected impact on Bitcoin
In spite of the global reverberations caused by the assassination attempt, the occurrence surprisingly brought about a favorable outcome for the cryptocurrency market.
According to Reuters, Bitcoin (BTC) reached a two-week peak on July 15, following the attempted assassination of former US President Donald Trump the previous day.
The most recent data shows that Bitcoin was being bought and sold for approximately $63,650, representing a 1.20% increase. This upward trend is supported by the Relative Strength Index (RSI), which currently reads 57.8, indicating robust optimism among investors.
As an analyst, I uncovered some intriguing insights upon conducting a thorough examination of Bitcoin’s price movements. Specifically, I noticed that Bitcoin displayed a bullish reversal on July 14th – a striking coincidence given that this was also the date of a reported assassination attempt.
Is Trump likely to win the election?
It’s possible that Trump’s vocal support for cryptocurrency has boosted his chances of winning the upcoming election, given its growing popularity among voters.
Remarking on the same, Tony Sycamore, a market analyst at IG.
“He has strongly advocated for cryptocurrencies, and the recent shooting incident that bolstered his reelection prospects has significantly increased the momentum for crypto investments, with bitcoin leading the charge.”
According to the data from Polymarket’s prediction market, Trump garnered a significant lead, accounting for 71% of the votes, while Biden received only 17%.
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2024-07-16 14:15