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Bitcoin Climbs Above $62,508 Post Trump’s Assassination Attempt
Bitcoin price post-Trump attempt: According to Reuters, Bitcoin surged to a two-week high on Monday following the attempted assassination of US presidential candidate Donald Trump.
Analysts predicted it would increase the likelihood of him winning the US presidential election.
Bitcoin Price Post-Trump Attempt
In an incident at a Saturday rally in Butler, Pennsylvania, Trump, the 78-year-old ex-president, and prospective White House candidate, suffered an ear injury and was withdrawn from the scene, with blood on his cheek, after a shooting that left one dead and two critically wounded in the crowd.
Ipek Ozkardeskaya, analyst at Swissquote, says, “Impressions of a strong, heroic Trump, bloody-faced with fist raised high, and the American flag waving behind him as security agents rushed him away from the scene, dominated the weekend.”
Reuters highlighted that Bitcoin rose 8.6% to $62,508, touching a two-week high of $62,698 earlier in the session, taking its year-to-date gains to 47%.
Ether was also up 6.8%% at $3,322.
Trump, A Champion For Cryptocurrency
Trump is running against Democratic President Joe Biden in November’s U.S. election and has slammed Democrats’ attempts to regulate the crypto sector.
The presidential candidate presented himself as a champion for cryptocurrency during a San Francisco fundraiser in June, although he hasn’t offered specifics on his proposed crypto policy.
The Bitcoin price post-Trump attempt has continued to go up. The cryptocurrency exchange-traded funds (ETFs) also continued their positive price momentum this month.
Last week, crypto ETFs drew in more than $1.35 billion in funds, representing the fifth-best week in their history, according to CoinShares data.
Also Read: Bitcoin Faces ‘Critical’ 36-Hour Period
The surge in inflows was catalyzed by two major factors: the German government’s recent selloff of bitcoin and “a turnaround in sentiment due to lower than expected CPI [Consumer Price Index] in the U.S., prompted investors to add to positions,” according to CoinShares head of research James Butterfill.
