The attempted assassination of Donald Trump occurred approximately today. It caused an immediate and notable reaction in the cryptocurrency markets. Bitcoin (BTC) rebounded to a high of $60.3K, marking a 10-day high. Additionally, the TRUMP token surged by 63% as the news broke, according to a tweet from Santiment.
Trump’s Survival Causes Bullish Trends in Crypto Market
Since any attempt of an assassination is a serious matter especially if it involves a public figure, this movement in the crypto market is very important. A bullish forecast has been made regarding the US presidential candidate in 2024, Donald Trump, especially after his positive remarks about cryptocurrencies recently. His support for crypto emerged as the market cheered the fact that he survived the assassination attempt.
As the US presidential elections are scheduled for this fall, the crypto community is likely to remain highly sensitive to any developments concerning Trump. Due to his pro-crypto stance, he enjoys the support of many in the cryptocurrency industry. In this regard, this news that is interpreted as beneficial to him signals the start of an uptrend.
This has shown that the crypto market is very much influenced by political events. Looking at it, it is apparent that substantial political news from the United States will keep impacting the cryptocurrency market for the rest of 2024. As a highly speculative industry, the reactions to such news are typically immediate and big in the crypto sector.
Trump Assassination Attempt Shakes Crypto Markets
The assassination attempt on the life of Trump is an example of how the markets can be affected by external forces. Due to frequent fluctuations, the crypto market is the most vulnerable to such effects. The optimistic market attitude toward Trump’s survival indicates that investors may consider his further political activity to be beneficial for cryptocurrencies.
Lastly, the incident of the assassination attempt on Donald Trump has significant effect on the cryptocurrency market. Importantly, it has increased the price of Bitcoin and the TRUMP token. The same market effects can be observed as the election approaches in response to other major political occurrences. This is because the crypto market highly depends on political processes. On the other hand, investors should pay attention to such news influencing their decisions.
