Bitcoin Hits 10-day High of Over $60,000 Post-Trump Assassination Attempt
Bitcoin's price surged to a 10-day high of over $60,000 following an assassination attempt on former US President Donald Trump during a campaign event in Pennsylvania on July 13. The cryptocurrency's value increased by 4%, reaching $60,300, reversing a recent downward trend.
The crypto community and market analysts have been intrigued by the positive market response to this event. Blockchain intelligence platform Santiment attributed the uptick to a bullish sentiment around Trump, who has recently made favorable comments about the crypto industry. The incident is perceived as pro-Trump news, leading to the bullish response.
Will Clemente, co-founder of Reflexivity Research, suggested that the markets are starting to price in a potential Trump victory in the upcoming November elections. Data from Polymarkets also indicated that the shooting incident improved Trump's chances of winning, with crypto bettors believing he has a 70% chance of winning the elections compared to President Joe Biden's 15%.
Over the past few months, Trump has gained significant support from the Bitcoin and crypto community. He has pledged to protect the right to hold Bitcoin and is scheduled to be a headline speaker at the Bitcoin 2024 conference later this month. This support extends to prominent crypto figures such as Ark Invest’s CEO Cathie Wood, Gemini exchange founders Tyler and Cameron Winklevoss, and notable supporters like Elon Musk and billionaire investor Bill Ackman.
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