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Bitcoin prices soared to a two-week high today, following yesterday\u2019s shocking assassination attempt on former U.S. President and current presidential candidate Donald Trump<\/a>.<\/p>\n The incident, which occurred during a campaign rally in Pennsylvania, has reportedly greatly boosted Trump\u2019s chances in the upcoming election and led to increased interest in cryptocurrencies<\/a>. Trump, who sustained a minor ear injury in the attack, is said to be recovering well according to his campaign.<\/p>\n The former president has positioned himself as a strong advocate for cryptocurrency<\/a>, and some investors believe the attempt on his life may have strengthened his support base.<\/p>\n As of this morning, Bitcoin (BTC)<\/a> had risen 8.6% to $62,508, touching a two-week high of $62,698 earlier in the day. This surge brings Bitcoin\u2019s year-to-date gains to an impressive 47%. Ethereum (ETH)<\/a>, another major cryptocurrency, also saw significant growth, up 6.8% at $3,322.<\/p>\n The cryptocurrency market\u2019s response appears to be linked to Trump\u2019s stance on digital assets. He has been critical of Democratic attempts to regulate the cryptosector<\/a> and has presented himself as a champion for cryptocurrency. During a San Francisco fundraiser last month, Trump expressed support for crypto, though he has yet to provide specific policy proposals. Market analyst Tony Sycamore of IG told Reuters<\/a>:<\/p>\n He\u2019s certainly positioned himself as pro-crypto and as the odds of his reelection were galvanised by the shooting on the weekend, it\u2019s certainly put a big boost underneath the bid in crypto markets and Bitcoin obviously, just an absolute standout.<\/p>\n<\/blockquote>\n The former president is scheduled to speak at the upcoming Bitcoin 2024 conference in Nashville, Tennessee, on July 27, which may further impact market sentiment. Bitcoin had already seen a strong start to the year following the launch of exchange-traded funds (ETFs) in the U.S.<\/a>, reaching a record high of $73,803.25 in mid-March.<\/p>\n However, it has faced challenges recently, including concerns over the potential dumping of coins<\/a> from the defunct Japanese exchange Mt. Gox<\/a>. Sycamore added:<\/p>\n We had four weeks of declines on the back of the Mt. Gox news \u2026 but the rebound, it looks to me like it\u2019s got further to go and I wouldn\u2019t be surprised seeing it head back up towards, at least towards $65,000 by the end of this week.<\/p>\n<\/blockquote><\/div>\nAttack on Trump\u2019s effect on Bitcoin<\/h2>\n
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