Investing.com: Bitcoin Price Soars as Trump Assassination Attempt Boosts Speculation for Second Term
In a surprising turn of events, Bitcoin experienced a significant rebound on Monday, following recent lows, as markets reacted to news of an assassination attempt on former President Donald Trump. Speculation regarding the potential impact of this event on Trump's chances of securing a second term played a crucial role in Bitcoin's resurgence. The Republican frontrunner has been vocal about his support for cryptocurrency, which further fueled investor optimism.
Bitcoin surged by 4.6% in the past 24 hours, reaching $62,708.9 by 01:26 ET (05:26 GMT). After hitting four-month lows last week, the token has now bounced back by nearly $10,000.
The news of the failed assassination attempt on Trump has led to renewed discussions about his stance on crypto and the potential implications for the industry. Trump's promises to prioritize the development of Bitcoin in the U.S. and his acceptance of campaign donations in cryptocurrency have bolstered confidence in the market.
Despite the positive sentiment surrounding Bitcoin, uncertainties remain about the impact of ongoing distributions from Mt Gox, a defunct crypto exchange. The exchange has been gradually returning lost crypto from a 2014 hack to its clients, raising concerns about a potential influx of tokens into the market.
In addition to Bitcoin's rally, other cryptocurrencies have also seen gains, with altcoins tracking Bitcoin's recovery. The second-largest token, Ethereum, rose by 4.3% to $3,338.85, while other popular tokens like XRP and Litecoin also experienced price increases.
Overall, the recent developments in the cryptocurrency market highlight the growing influence of external events on digital asset prices. Investors should remain vigilant and stay informed about political developments and regulatory changes that could impact their investments in the crypto space.