Bitcoin witnessed a significant rise, reaching its highest levels in two weeks on Monday, following the incident involving former President Donald Trump, the presidential candidate in the upcoming US elections.
Trump was the target of an assassination attempt at a rally in Pennsylvania on Saturday, where he suffered a gunshot wound to the ear, but is said to be recovering well. This event appears to have improved his odds of winning the election, leading to an increase in trades betting on his victory.
The cryptocurrency rose 8.6% to $62,508, having previously peaked at $62,698, marking a 47% year-to-date increase. Ether, another major cryptocurrency, also saw a 6.8% rise to $3,322.
Trump, who is running against incumbent President Joe Biden, has criticized Democrats' efforts to regulate the cryptocurrency sector. During a fundraiser in San Francisco in June, Trump expressed his support for cryptocurrencies, although he did not provide details of his policy plans related to the sector.
An IG market analyst commented on the situation, noting Trump's pro-crypto stance, and noted that the weekend's events had significantly boosted the cryptocurrency markets, with Bitcoin showing remarkable performance#BTC $BTC
