Key Takeaways
- Bitcoin's price spiked past $63,000 after an assassination attempt on Trump.
- Trump is favored by Bitcoin advocates due to his stance on regulation.
- Trump confirmed his attendance at the Bitcoin 2024 conference in Nashville.
The price of Bitcoin surged past $63,000 after an assassination attempt on former U.S. President Donald Trump during a campaign rally in Pennsylvania.
Bitcoin jumped nearly 10% from below $58,000 on Friday to over $63,000 on Monday morning. The sharp increase followed a gunman opening fire at the rally on Saturday.
Although Trump survived with minor injuries, analysts connected the rising price of Bitcoin to improved odds of his election victory in November. Trump has embraced Bitcoin and pledged to roll back regulation, making him a favored candidate among Bitcoin supporters.
2024 Conference
The Trump team confirmed that he will still attend the Bitcoin 2024 conference in Nashville in two weeks, reinforcing his commitment to the cryptocurrency.
TA
Exchanges saw heavy trading volume as Bitcoin broke above its 200-day moving average. Some analysts view maintaining this technical level as a bullish signal after weeks of downward pressure.
These gains contribute to Bitcoin’s recovery from lows near $53,000 earlier this month, influenced by sell-offs from the Mt. Gox payouts and the German government.
