As a seasoned crypto investor with a decade of experience under my belt, I have seen my fair share of market fluctuations and geopolitical events impacting the cryptocurrency landscape. Last weekend’s attempted assassination of former US President Donald Trump during his campaign in Pennsylvania was an event that had me on the edge of my seat.
Last Saturday, July 13th, I came perilously close to being assassinated during my campaign stop in Pennsylvania as a former US President. Yet, the following day, David Bailey, the conference organizer of Bitcoin 2024, revealed that I would still be in attendance at the upcoming event in Nashville, Tennessee later this month.
As a researcher studying social media communications, I came across a post by Bailey on platform X on July 14. In his message, he shared that he had recently engaged with Trump’s team, expressing that the former President was in high spirits. Moreover, Bailey mentioned Trump’s eagerness to attend an event in Nashville and deliver a speech that would resonate globally.
As a crypto investor looking back on the events of that week, I can recall that the former president was supposed to attend and speak at the conference between July 25 and July 27. He was scheduled to deliver his speech on the last day, specifically on July 27. However, prior to this date, an assassination attempt occurred, which unfortunately changed the course of events.
As an analyst, I’ve observed an intriguing correlation between recent events and the cryptocurrency market trends. Following the unsuccessful assassination attempt on Donald Trump last week, I noticed a significant surge in Bitcoin and the broader crypto market on Sunday. The news of Trump’s survival has bolstered his potential re-election prospects for the 2024 US Presidential elections. Consequently, this development ignited a wave of excitement among crypto market participants, fueling their determination to drive the market upward.
It’s intriguing that the rally persisted into Monday, pushing Bitcoin’s price up by 4.5% to reach $62,987. This figure now exceeds the significant resistance level of $60,000.
After a robust weekend, Bitcoin regained the $62,000 mark as its support level. Although resistance lies above this point, sufficient buying power could thwart selling pressures.
Can Bitcoin break the downtrend?
— IntoTheBlock (@intotheblock) July 15, 2024
Altcoins, Meme Coins Join the Party
In addition to Bitcoin, various other cryptocurrencies and meme coins have experienced impressive gains. Notably, Ethereum‘s price has surged by 5% and reached $3,400 as investors eagerly anticipate the upcoming launch of an Ethereum spot ETF. The Securities and Exchange Commission (SEC) in the US has yet to make a decision regarding the Ethereum ETF proposals, which were submitted last week.
In the past two days, coins such as Solana, XRP, Cardano, and Dogecoin have experienced a surge of more than 10% in value, joining Bitcoin in its post-Trump attack growth.
I’ve noticed an exciting resurgence in the meme coin market, with many coins experiencing gains of 5-10% as of now. Among these, MAGA, the meme coin themed after former U.S. President Donald Trump, saw a remarkable surge of 60% on Sunday alone, reaching a price point of $10. Although it has corrected by 25% from its peak, MAGA still boasts impressive weekly gains of 42%.
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2024-07-15 13:25