- After the assassination attempt on Donald Trump, Bitcoin reached a two-week high.
- Trump’s pro-crypto stance has boosted his election chances prediction in the polls to 71%.
The recent assassination attempt on former President Donald Trump on July 14 during a political rally in Butler, Pennsylvania, has further deepened the political divide in the country.
Trump’s resilience towards the crypto community
Amid the heightened tensions, Trump remained adamant and confirmed his plans to attend the upcoming Bitcoin conference in Nashville, Tennessee. This has had a huge impact on the crypto community.
Confirmation of Trump’s status, David Baileyone of the event organizers and the CEO of Bitcoin Magazine, turned to X and commented:
“I just spoke to the president’s team. He is in good spirits and looks forward to seeing you all in Nashville and delivering a speech that will be heard around the world.”
The organizers further confirmed this news, stating:
Source: The Bitcoin Conference/X
Unexpected impact on Bitcoin
Despite the shockwaves sent around the world by the assassination attempt, the event had an unexpectedly positive impact on the cryptocurrency market.
From ReutersBitcoin [BTC] rose to a two-week high on July 15, just a day after the attempted assassination of former President Donald Trump.
As of the last update, BTC was trading at $63,650, up 1.20%. This increase was confirmed by the Relative Strength Index (RSI), which stood at 57.8, indicating strong bullish sentiment.
Further analysis revealed that Bitcoin experienced a bullish reversal on July 14, the day of the assassination attempt.
Source: TradingView
Is it likely that Trump will win the election?
This is likely due to Trump’s strong advocacy for cryptocurrency, which may have increased his chances of success in the upcoming elections.
Tony Sycamore, a market analyst at IG, says the same.
“He has certainly positioned himself as pro-crypto and as the chances of his re-election were boosted by the shooting over the weekend, this has certainly given a big boost to the bid for the crypto markets and bitcoin of course, just an all-time high.”
The Polymarkt Predictive market data further confirmed this trend, with Trump topping the charts and securing 71% of the vote, compared to President Joe Biden, who was at 17%.
Source: Polymarkt