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 think the attack on Donald Trump while he was giving a speech to run his own campaign as a presidential candidate is a very separate thing from cryptocurrencies even though Donald Trump himself really likes cryptocurrencies completely, especially Bitcoin. And regarding the increase in the price of Bitcoin in the market which immediately penetrated the $65K mark, this is a very normal thing because even if Donald Trump does not suffer any attacks today, the price of Bitcoin will continue to increase and recover slowly in the market.
I think it has nothing to do with it, because if it were related, the price of Bitcoin would fall because of that event, but in fact the price of Bitcoin is moving in a different direction.
The increase in Bitcoin in the last few days is a response to the sharp decline that occurred previously so I think it is very natural.
And now we haven't seen the price of Bitcoin move higher than the price of 65k so in my opinion it is still the support price so if you look at it from before the sharp decline last week then there is no significant difference.
Why did bitcoin price decrease following that event? Did you know Trump's approval rating skyrocketed right after the failed assassination attempt? Meanwhile, everyone knows that he is very pro-bitcoin and that means the market will also benefit if he is elected. Therefore, it is understandable that investors have positive sentiment from that event.
Bitcoin will only go down in price if he is shot dead that day because this will be a black swan for US politics and it will affect all other markets, not just bitcoin.
It will be hard to believe and many people will not like this, but many investors are very excited about Trump and the upcoming election, so news related to the election will certainly impact the market in the near future. It is inevitable.