Bitcoin surges to two-week high after Trump assassination attempt

Bitcoin rose to a two-week high, writes Reuters, explaining this jump by the fact that after the failed assassination attempt, Donald Trump’s chances of winning the upcoming US presidential election have increased sharply. And he positions himself as a supporter of the use of cryptocurrencies.

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Bitcoin rose 8.6% to $62,508, approaching a two-week high of $62,698 reached earlier in the trading session. As a result, Bitcoin’s growth since the beginning of the year has been 47%. Ethereum also showed growth, but slightly less – by 6.8% to $3,322.

Republican Donald Trump, who is the main competitor of current President Joe Biden in the November US elections, criticized the Democrats’ attempts to regulate the crypto sector. At a campaign fundraiser in San Francisco in June, he described himself as a cryptocurrency advocate, although he did not reveal details about what policies he plans to pursue regarding the cryptocurrency market.

«He’s definitely positioned himself as a pro-cryptocurrency guy, and with his re-election chances being boosted by the shooting over the weekend, it’s certainly raised the stakes significantly in the crypto markets and obviously in Bitcoin,” said Tony Sycamore. Market Analyst IG.

After the launch of spot exchange-traded funds (ETFs) in the United States, the price of Bitcoin rose in mid-March 2024 to a record $73,803.25, but then corrected and remained in the range of 60–70 thousand for a long time. In early July, Bitcoin fell to a more than four-month low. as traders were concerned about the likely appearance of cryptocurrency from the bankrupt Mt.Gox exchange on the market.

«We had four weeks of declines on news of Mt. Gox… but I think there’s still a recovery to come and I wouldn’t be surprised to see it move back up to at least $65,000 by the end of this week,” Sycamore predicts.