Bitcoin Rises as Trump Shooting Raises Re-Election Odds

Bitcoin is gaining after the shooting at a Donald Trump rally, leading to speculation that the incident… increase his chances of winning the presidential election.

The former president, who positioned himself as pro-Encrypthe said it was I shoot in his right ear after gunfire erupted at his political rally in Pennsylvania on Saturday. His campaign said he was “fine” after the incident and looking forward to the Republican National Convention that begins Monday in Milwaukee.

The chances of Trump returning to office have increased after today’s developments, according to data from PredictIt. Images of a defiant Trump, with his fist raised above his head and his right ear bleeding, with the American flag flying in the background, have been trending on social media and television since the attack.

The Trump campaign said it would attend the convention. President Joe Biden said he was glad Trump was safe and condemned the violence.

Markets are likely to respond with increased volatility and may repeat the trades they employed when last month’s debate swung in Trump’s favor, when the U.S. dollar gained and Treasury yields rose.

Bitcoin rose as much as 2.1% to $59,849.84, before paring that advance to trade around $59,426 as of 10:25 p.m. New York time. The most traded cryptocurrency token had stabilized in recent days on the optimism that the ETFs of the titans including Black rock Inc. and Faithful Investments They offer the kind of underlying demand that can smooth out price swings.

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