Quote from: Orpichukwu on July 16, 2024, 10:50:30 PM

Quote from: Obi-Ejike Banito on July 16, 2024, 08:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I don't know why people just give too much credit to something that happens around. I don't see any significance that the Trump assassination attempt brought to bitcoin; it's just a normal price correction from the price crash caused by the government's bitcoin selling, and again, the price of bitcoin did not reach $65,000 immediately after the attack; it took hours, and it's been more than 24 hours since the attack before the price of bitcoin reached $65,000 again.

It is not totally unrelated either, after all we saw the stock markets also going up roughly at the same time, so a connection could exist, and when you think about it, it is easy to see a reason why this may be the case.

If we take a look at what Trump did during his previous presidency, we know for a fact he will pass policies which benefit the richest, and since the assassination attempt failed this has caused an increase on his popularity, which could be more than enough to guarantee his victory on the next elections, and this is making those at the top happy as this means less taxes for them to pay.