On a sunny Saturday in Pennsylvania, an unexpected event unfolded: Donald Trump, the former president of the United States and a prominent supporter of crypto, was shot in the right ear during one of his political rallies. Trump, known for his pro-crypto stance, now finds his odds of a political comeback greatly increased. As a result, the crypto market has surged with optimism.
As of July 15, BTC is holding strong at $63,154, marking a 5% gain in the last 24 hours. ! [Trump survives assassination attempt: Bitcoin soars, what’s next for crypto?
Let’s delve deeper into the current sentiment surrounding this event, explore upcoming trends, and examine the reactions from analysts and market participants. Even after the assassination attempt, Trump remains undeterred in his efforts to engage with the crypto community. He is scheduled to speak at the Bitcoin 2024 conference in Nashville later this month, as confirmed by the organizers.
In contrast, President Joe Biden’s chances of winning stand at 18% on the same platform, 4 times lesser. Solana has been a breeding ground for meme coins lately, with platforms like Pump.fun making it easy for users to launch their own tokens. Following the incident, a surge of new meme coins inspired by the event has emerged.
Michaël van de Poppe, a well-known crypto analyst, highlighted that Germany has finished selling its Bitcoin holdings, which could remove some downward pressure on the market. Stockmoney Lizards referred to the Trump assassination attempt as a “black swan event,” an unexpected occurrence that typically has severe consequences. However, they noted that this event is unique in potentially driving gains in the crypto market.
According to their analysis, the possibility of Trump’s return to the presidency has not yet been fully factored into Bitcoin’s price, implying room for further growth as the political situation evolves. Bitcoin Magazine shared another shift in perspective from Larry Fink, CEO of BlackRock. Once a critic of Bitcoin, Fink has become a major believer after studying it closely, particularly since BlackRock launched its own spot Bitcoin ETFs in January.
While the market is experiencing a bullish wave, it’s essential to proceed with caution. The influx of meme coins can create bubbles that are prone to bursting, leading to sudden and exponential losses. As always, it’s crucial to do thorough research and not rely solely on market sentiment driven by current events.