Last Saturday, US presidential candidate Trump was shot at a rally in Pennsylvania, attracting global attention. Fortunately, Trump was only shot in the right ear, and he later publicly stated that he was in good condition and would continue his campaign.
However, the attack still caused a great earthquake in the American political arena. The most obvious consequence is that the expectations of Trump's victory have been raised again. Some analysts predict that Trump's sympathy for the victims of the incident and anger at the violence will drive a significant increase in Trump's approval rating.
Prediction platform Polymarket shows that Trump's chances of winning the November election soared by about 10 percentage points to 70% after the shooting, while his rival Biden's odds of winning fell further to 18%.
This development has also rekindled enthusiasm in the crypto industry. After Saturday's shooting, the price of Bitcoin rose sharply. As of press time, its trading price exceeded $61,500, setting a new high in a week, and the 24-hour increase reached 3.3%.
Ethereum, the second largest currency, also rose by more than 3.1% in 24 hours. The prices of other small tokens fluctuated, but overall, the market value of the entire crypto market rose by 2.42% in 24 hours.
Big benefits
Trump confirmed his support for the cryptocurrency market at the beginning of this round of campaign. He had previously shouted the slogan "Let all cryptocurrencies be made in the United States", winning the support of crypto enthusiasts.
In order to consolidate the market's support for him, he also plans to speak at a Bitcoin conference on July 27. It can be said that the encryption industry, which has been "tortured" by the Biden administration's strict censorship policy, is eagerly looking forward to Trump's coming to power.
IGAustralia Pty market analyst Tony Sycamore noted that the assassination attempt strengthened Trump's chances of re-election, which gave Bitcoin an upward momentum.
Santiment analysts expect more volatility in the cryptocurrency market, with gains similar to those following the June presidential debate, which saw markets sharply raise expectations for a Trump victory due to Biden's poor mental state.
QCP Capital revealed in a report that large hedge funds are actively buying Bitcoin. Macro sentiment is also very positive, inflation is slowing down, and the market expects the Federal Reserve to cut interest rates in September, which is consistent with the rising trend of Bitcoin and cryptocurrencies. The company believes that the target price of Bitcoin is between $100,000 and $120,000.
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