In a turn of events, the assassination attempt on former United States President Donald Trump during a campaign rally has been labeled a “true black swan event” by analysts.
Surprisingly, this incident has led to gains in the cryptocurrency market, particularly Bitcoin (BTC), which surged above $60,000. This phenomenon is unprecedented, as black swan events typically result in market downturns.$BTC
Notably, before the rally, Bitcoin was consolidating below the $60,000 mark, facing the threat of a free fall under $55,000.In this line, crypto analyst Stockmoney Lizards, in an X post on July 14, highlighted this anomaly in the analysis of Bitcoin.
According to the expert, Bitcoin has weathered several black swan events over the past decade, each resulting in significant price drops. In 2012, the collapse of Mt. Gox saw Bitcoin plummet by 96%. The 2014 Bitfinex hack resulted in an 87% drop. The COVID-19 pandemic in 2020 led to an 84% decline, and the 2022 FTX collapse saw Bitcoin fall by 78%.