Following the news of an attack on Trump, there was a significant increase in Bitcoin.
According to CoinGecko data, the price of Bitcoin rose from $58,337 to $59,796 in less than an hour after the news was heard. At the time of writing, the price was fixed at $59,524.
Trump-themed memecoins also saw significant gains; for example, TREMP is up 71%, TRUMP is up 39%, and MAGA is up 33% in the last 24 hours.
Following news of an attack on Trump, Bitcoin skyrocketed, which also affected Bitcoin and related memecoins.
Rise in Bitcoin After Trump Rally
Bitcoin prices increased significantly immediately after the news that former US President Donald Trump was attacked at a rally in Pennsylvania. According to CoinGecko data, Bitcoin climbed from $58,337 to $59,796 in a short time and recorded a new weekly high. This sudden price movement once again shows how Bitcoin reacts to major political events, although the price later dropped to $59,524.
Impact on Trump-Inspired Memecoins
This event significantly affected not only Bitcoin but also Trump-themed memecoins. For example, TREMP gained 71%, while TRUMP gained 39% and MAGA gained 33%. These figures reveal how closely linked speculative assets can be to political figures and events.
Details of the Event and Market Reaction
During Trump's campaign speech, noises such as gunshots or explosions were heard and it was reported that Trump was injured in his ear. The former President was immediately taken under guard by Secret Service agents and was seen with his face covered in blood. While the Secret Service confirmed that Trump was safe, CNN reported the incident as a possible assassination attempt and announced that the attacker was neutralized by the authorities.
Trump's Effect on Election Chances
Trump's survival and subsequent public appearance seem to have increased his chances in the upcoming elections. Users of leading prediction platform Polymarket increased the probability of Trump winning from 60% to 71% after the event. Current President Joe Biden's odds of winning have dropped to 15%, indicating a possible change in voter trends.
Conclusion
This incident once again highlights the profound impact of political developments on financial markets, especially cryptocurrencies. Although Bitcoin's sudden price increase was instantaneous, it is important for investors to always be careful and do thorough research due to the inherent volatility of the markets. Trump's apparent resilience could shape the political landscape and therefore influence future crypto investment trends.
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