According to Santiment, a crypto analytics business, the crypto markets have responded favorably to the attempted assassination of former president Donald Trump.
Trump was targeted in an alleged assassination attempt during a political gathering in Pennsylvania, but managed to survive with only minor injuries. Consequently, Bitcoin (BTC) and MAGA (TRUMP), the leading memecoin inspired by Trump, experienced a significant increase in value.
As the cryptocurrency community nears the upcoming elections, it has generally exhibited optimistic and favorable reactions to pro-Trump news, primarily because of his previous supportive statements toward cryptocurrencies. The news of surviving an assassination attempt is seen as favorable towards Trump, resulting in optimistic reactions.
Bitcoin has had an upward movement following Santiment’s publication, currently trading at $63,004, representing a growth of more than 4% in the last 24 hours.
Currently, the TRUMP stock is experiencing a decline of more than 10% in the past 24 hours, with a trading value of 7.68%. Trump, who was previously outspokenly opposed to cryptocurrencies, has shifted his stance in the past year as the asset class gained prominence in political discussions throughout the election.
Consequently, he has become a preferred choice among crypto enthusiasts who desire a presidential administration that is more supportive of the business.
According to a recent survey conducted by Paradigm, an investing firm, Donald Trump’s favorable positions on cryptocurrency are contributing to his success in gaining support from Republican voters for the upcoming 2024 Presidential Election.
Conservative people are increasingly supporting candidates who advocate for financial independence and are pro-crypto. This is because they strongly oppose the Warren-Gensler perspective, which advocates for centralized control.
Trump is scheduled to deliver a speech at the Bitcoin 2024 conference in Nashville, Tennessee, from July 25th to 27th.
