Bitcoin surged to a two-week high on Monday, gaining 8.6% to $62,508. The surge followed an attempted assassination of former US President Donald Trump, who has positioned himself as a proponent of less regulation in the crypto sector. Some investors believe a Trump victory in the upcoming election would be beneficial for cryptocurrency.
The attack on Trump has been seen by some as bolstering his chances of winning the presidency, contributing to the increased optimism in the crypto market. This optimism is reflected in the rise of Bitcoin and other cryptocurrencies, such as Ether, which also experienced a significant increase, gaining 6.8% to $3,322.
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The rally in Bitcoin follows a period of decline attributed to concerns over a potential token dump from the defunct Japanese exchange Mt. Gox. However, the recent surge suggests that these concerns may be fading.
Trump is scheduled to speak at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, further signaling his interest in the crypto industry. His presence at the conference is likely to further fuel optimism within the crypto community.