Bitcoin’s price reaches over $60,000 following an unexpected event
Bitcoin’s value soared past $60,000 after an attempt on the life of the former President of the United States, underscoring the cryptocurrency’s susceptibility to political influences.
Increasing Popularity of Trump in the Crypto Sphere
News of the attack on Donald Trump prompted a surge in Bitcoin’s price. As Trump’s odds of securing the White House for a second term rose on the Polymarket platform, Bitcoin exceeded $60,000 per unit, up from $53,000 earlier this month.
Market Reaction to Political Uncertainty
Forbes reported a significant spike in Trump’s chances of winning the upcoming election post the unfortunate incident, reaching a seventy percent likelihood on the Polymarket gambling site. Participants can bet cryptocurrencies on various events on this platform.
Political Support for Cryptocurrency
In light of his scheduled appearance at the Bitcoin 2024 conference, Trump has positioned himself as a strong advocate for Bitcoin and the crypto community, vowing to protect citizens’ right to use Bitcoin.
Crypto Integration in Political Fundraising
President Trump has signaled his alignment with cryptocurrencies by accepting campaign donations in Bitcoin, Ethereum, Solana, Dogecoin, and Shiba Inu, contrasting the anti-crypto stance of the Biden administration.
Source : tokenpost.com