Bitcoin price tops $63,000 after Trump assassination
The price of Bitcoin surged above $63,000 over the weekend following Donald Trump's assassination, further boosting his chances of winning the election. Bitcoin prices surged above $63,000 after former US President Donald Trump was shot during a campaign rally.
Bitcoin’s price rose nearly 10% from less than $58,000 on Friday to over $63,000 on Monday morning. Bitcoin prices rose significantly after a gunman opened fire at a Trump rally in Pennsylvania on Saturday.
Despite Trump's minor injuries, analysts linked the rise in Bitcoin prices to an increase in Trump's chances of winning the November election. Trump has been supportive of Bitcoin and cryptocurrencies and has promised to loosen related regulations, making him the preferred candidate for many Bitcoin supporters.
In addition, the Trump team also confirmed that Trump will personally attend the Bitcoin 2024 conference in Nashville in two weeks, further proving his commitment to Bitcoin.
Exchange trading volumes increased significantly as Bitcoin broke above the 200-day moving average. Some analysts believe holding this technical level is a bullish sign, especially after weeks of downward pressure.
The gains add to Bitcoin's rebound from a low of $53,000 earlier this month after selling off Mt. Gox payments and the German government sparked panic in the market. Traders hope the rally marks a bottom for Bitcoin.
Bitcoin is regaining ground above $60,000 after a few weeks of lackluster performance. If this strong rally continues, Bitcoin could return to all-time highs in anticipation of a Trump presidency.
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