- After Donald Trump’s assassination try, Bitcoin reached a two-week excessive.
- Trump’s pro-crypto stance has boosted his election odds prediction to 71% within the polls.
The current assassination try on former President Donald Trump on the 14th of July throughout a political rally in Butler, Pennsylvania, has additional deepened the political divide within the nation.
Trump’s resilience in direction of the crypto neighborhood
Amidst the heightened tensions, Trump remained adamant, affirming his plans to attend the upcoming Bitcoin Convention in Nashville, Tennessee. This has had a huge effect on the crypto neighborhood.
Confirming Trump’s standing, David Bailey, one of many occasion’s organizers and the CEO of Bitcoin Journal, took to X and famous,
“I have just spoken with the President’s team. He is in good spirits and is excited to see you all in Nashville and deliver a speech that is heard around the world.”
The organizers additional confirmed this information and acknowledged,
Supply: The Bitcoin Convention/X
Sudden influence on Bitcoin
Regardless of the shockwaves despatched throughout the globe by the assassination try, the occasion had an unexpectedly optimistic influence on the cryptocurrency market.
As per Reuters, Bitcoin [BTC] surged to a two-week excessive on the fifteenth of July, only a day after the tried assassination of former President Donald Trump.
As of the newest replace, BTC was buying and selling at $63,650, up by 1.20%. This rise was confirmed by the Relative Power Index (RSI), which stood at 57.8 signaling robust bullish sentiment.
A better evaluation revealed that Bitcoin skilled a bullish reversal on the 14th of July, the very day of the assassination try.
Supply: TradingView
Is Trump prone to win the election?
That is doubtless as a consequence of Trump’s robust advocacy for cryptocurrency, which can have elevated his odds of success within the upcoming election.
Remarking on the identical, Tony Sycamore, a market analyst at IG.
“He’s certainly positioned himself as pro-crypto and as the odds of his reelection were galvanised by the shooting on the weekend, it’s certainly put a big boost underneath the bid in crypto markets and bitcoin obviously, just an absolute standout.”
The Polymarket prediction market information additional confirmed this development, with Trump main the charts, securing 71% of the votes in comparison with President Joe Biden, who stood at 17%.
Supply: Polymarket
