Bitcoin surge in the last 24hrs

[Obi-Ejike Banito]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

[Cryptohygenic]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

When you said breaking $65,000 mark, that feels like the value has broken a record in the bitcoin market which it does not but though it has been an interesting value due to markets sentiments where we have not meet such appreciated value in couple of weeks or month now.
I have really been on the market chart cap all these while and the market has been on the movement signal of bitcoins appreciation even before the event of the assignation attempt on Trump. So I don't think if there is a relationship with the price of bitcoin up to date.
Besides, when we experienced the current Ath, there was no political in influence of Trump to regard it as the steer resulted to the markets appreciation.

[BoB_Bass]

HaHa I love it that Bitcoin always does the opposite of what people expect.  The German sell-off caught people by surprise with a small slump. Now over on the MtGox thread everybody is predicting a crash because the trustees moved some coins to an exchange.  And instead we get a pump.

Two lessons here, don't try to second guess Bitcoin, and don't listen to anybody on social media.

[Orpichukwu]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I don't know why people just give too much credit to something that happens around. I don't see any significance that the Trump assassination attempt brought to bitcoin; it's just a normal price correction from the price crash caused by the government's bitcoin selling, and again, the price of bitcoin did not reach $65,000 immediately after the attack; it took hours, and it's been more than 24 hours since the attack before the price of bitcoin reached $65,000 again.

[tabas]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

It's not all about what he's said that he'd support crypto with his candidacy if ever he's reelected as the POTUS. We might consider that there's a slight triggering factor about the assassination attempt to him but I don't see the entire thing about that. Mind you, Bitcoin has always been like this ever since. With or without news about someone who spoke about it and then something has happened. This is the community reacting to the actual market together with the whales. Whatever it is, I can't wait to see it return to $70k and move to another ATH.

[d5000]

It's a combination of three things imo:

1) FOMO due to a surprise effect after LKA Saxony's selloff ended. After the 53k dump, caused by a panic and subsequent long liquidations, many thought BTC could go lower when the "real sales" of the LKA Saxony (what some refer as the "German Government") began. But the first few MtGox coins and the 50.000 LKA Saxony coins didn't cause the price go lower, as I expected, see also this thread. Instead, it seems that above all the ETF holders were happy to buy the dip, and also the 53-54k dump led to oversold conditions. Well, and once the LKA had finished its sales, people realized that perhaps it won't go lower for now and bought to benefit at least from sub-60k coins.

2) The Trump effect. Everything what increases the chances of Trump for the presidency in the current market seems to boost the price a bit since Trump made pro-crypto campaign statements. I believe this effect was only responsible for the surge from 59k to 60k, but it was just a critical price level. So it initiated the third reason:

3) Short squeeze / liquidations: Above 60k there could have been a lots of shorts lurking around, which probably were quickly closed as the pump was proceeding followed by liquidations. And this could have added pressure to the demand side. I have not confirmed this, but there are some indications that this could have happened.

As an addition to 2, to answer the OP's question: It's unclear if Trump is really fully supporting cryptocurrencies. However, it's likely that Republicans in general are more lenient towards economic liberalism, so it does make some sense if Republicans want to benefit the crypto industry.

[STT]

The news always follows the technicals on the chart, price moved up because it was so low prior.  We had no good reason to stay low, it was an overplayed move at that point.  I do post the scenario where a breakdown occurred that could get us to 50k or perhaps more but it did not trip especially.

    A failed attempt downwards which that was more or less will then lead to a bounce back, some of the negative is people selling into it and when it reverses it will involve those people buying as well as others speculating on the gains.   I would consider the price especially in these last 6 months almost to have an elastic property, the attempts to move downwards failing bounces us off the ropes.

  Overall BTC has been observable in its range for some time now, right now we are moving with some respect to gravity of the 50 day average which is descending.   Otherwise everything is positive is my take, most of the selling seems to be short term motivated.   Trump is only relevant as a signal of volatility.   He was a one term president and quite bizarrely that same one term dynamic very abnormal may yet occur again.  I care about how unusual that occurrence is more then the names or specific news itself

[lizarder]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

This is an interesting part of bitcoin after the correction process and it will be very profitable for those who are able to analyze the purchase in the correction process. After the news of the sale of bitcoins confiscated by the German government and now we are back in the linkage of the increase in bitcoin caused by the attack on the US Presidential candidate because of his support for crypto. I don't know how this process can be related or not but I believe in one thing in the supply and demand steps.

Even if that is true then the positive side is that we can sell to make a profit in the short term but for long-term holders they will not be affected by any conditions. Because they buy to save and wait until the next ATH arrives to dump enough bitcoins to make a big profit.

[TastyChillySauce00]

HaHa I love it that Bitcoin always does the opposite of what people expect.  The German sell-off caught people by surprise with a small slump. Now over on the MtGox thread everybody is predicting a crash because the trustees moved some coins to an exchange.  And instead we get a pump.

Two lessons here, don't try to second guess Bitcoin, and don't listen to anybody on social media.

I remember there were KOLs and CT doomposting saying that bitcoin is done for over the twitter and guess what they're all wrong and right now they suddenly changed direction and always tweeting bullish.
it speaks a lot about these CT in general, just following hype engaging farm so that they can be paid as a KOL.
the average people that follows them and take them too seriously always be the one that got the short end of the stick.

shorting BTC will only result in loss.

[davis196]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

It's funny how all the mainstream media linked the Bitcoin price pump with the Trump assassination attempt. This is just a coincidence, if you ask me. If the price pump was really caused by what happened with Trump, the BTC price should've started going back to 54K-57K USD two days ago.
Anyway, I expect another price drop below sixty thousand dollars by the end of this week. Bitcoin has proven that it can always surprise us, but the summer won't be the best time for a bull run. The Mt.Gox coins aren't sold yet and many governments around the world still have seized Bitcoins to sell.

[Yaunfitda]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

Well it could be one factor that really push the price, or not. We just really don't know as the market is too big, it's from Asia to Africa, so there are so many investors, and traders that might put their money on the market just because they heard that Donald Trump chooses a pro-crypto Vice President as his running mate. However, as others have said, there are still in the background, the Mt. Gox repayment and so this could create another FUD and perhaps there could be investors might get nervous and afraid of this news to trigger another sell-off. So shouldn't be confident that we have seen a big surge in the price, it doesn't mean that it won't go down as what we have witnessed with the German government dumping their bitcoin in the first-second week of this month. So just be prepared and not get excited.

[Jating]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I don't understand the voting though, but obviously USD is the gauge, but if you have a local crypto exchange, obviously it will equate to your fiat.

As for the surge, it called FOMO, that's why others suddenly invest their money because of Trump being pro-crypto. And then there is the drama about his assassination attempt and that they has 9 lives and then picking up a good VP candidate in Vance, so what can you asked for? Of course, investors are going to take advantage of this recent news to create this pump.

We can only speculate how he will be pro-crypto once he get to the office and so far the odds for him are very high to be re-elected and then could really boost the price to 6 digits in the future.

[Kemarit]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

Indeed it has surged in the last couple of years and tipping at a high $66,000. But the thing is that it's not that sustainable though as we are again might be struggling to get into $65,000 mark. So we still that far from the surge or at least trying to get to a new all time high.

For the US election, being the top nation, everything that happen in that country has an effect on all market not just crpyto, so yeah, with him putting crypto in their political agenda, it might be good for us in the long run. And we are thinking of what could be the catalyst for this bull run? Maybe we are looking at it right now, as Trump might be re-elected, second term as US President.

[NeuroticFish]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I just love how people link Bitcoin price movements to all events they see, forgetting what is the most important.

As said, Germany has sold a really significant amount of bitcoin in the past days. Now that stash has depleted, hence the selling pressure ended, leaving Bitcoin price free to grow again.

Meanwhile somebody tried to shoot Trump. And Trump's benefit to crypto is debatable, since in the past he was against it and now embraces it because it suits him well. Since he is a politician, there's no guarantee on what he will do in the future, no matter he's going to be elected or not.

I'd guess that the lack of selling pressure had much more effect than whatever happens to Trump.

[EarnOnVictor]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

You guys should stop relating what is not to events, Bitcoin moving up this week has started the preparation a week earlier and all my speculation was telling me that this week would be a bullish one and I'd consistently made reference to $62,120, which after breached it jumped massively upwards, it's purely technical. Did anyone buy Bitcoin in billions because Trump was attached, what is even the correlation? If you have, point it out,  that's unthoughtful of.

Even this Trump you guys are now lousy about will disappoint you. Someone who had earlier condemned cryptocurrency now turned into your messiah simply because he is seeking reelection and you believe Trump?

[Obi-Ejike Banito]

The fact there hasn't been a clear speculation on the price suddenly skyrocketing and looking very possible of reaching $70000 mark is still something I ponder about.
Should we make buys now and expect profit by August or meet another disappointment?
Or is there a particular scenario that affects prices?

[Gozie51]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I don't think the trump assassination saga would be a reason for the increase in price and if that should be considered then it is suppose to pull price further down. Apart from the German sell off, I think the market is reacting to the trend which has been established even before halving and so those downsides were not really strong waves down. The market correction should not be seen as fud on trump attack. Trump is positive about cryptocurrency especially bitcoin but he has I don't know if that was part of the agendas that he was speaking on at the rally where the assailant tried to attack him. Moreover, it is expected bull season, so anything that will trigger the move up will comfortably do that.

[sunsilk]

Two lessons here, don't try to second guess Bitcoin, and don't listen to anybody on social media.

Exactly, 100%.

We can't blame everyone when they have been spread with the fear that whoever started it out and they catch it. That's how many of these giants are trying to eat others alive and with the opportunity they're being stopped.

The surge that we got today is unexpected for which you've said, that all of us have been expecting that the drop should have come.

Should we make buys now and expect profit by August or meet another disappointment?

Are you for short-term? do what you think you should do.

[BABY SHOES]

Considering that Donald Trump is pro bitcoin and even his deputy owns $250K worth of bitcoin, this is a form of great support for bitcoin and surely behind this there is a slight influence on the price, but I am sure that behind this significant increase there is more news from Trump.

Should we make buys now and expect profit by August or meet another disappointment?

Do what you want, because it's short term, but for me the long term is better to get through all the negative news.

Or is there a particular scenario that affects prices?

Of course there is, any scenario that stirs up the media can affect the price.

[adultcrypto]

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

The surge is definitely linked to his survival of the assassination attempt and that is already an indication that he is pro-bitcoin. Trump have been vocal about his support for bitcoin so I feel the bitcoin community are optimistic that if Trump wins, it will favor bitcoin. I even learnt his vice is an old time holder of bitcoin. If that is true, then bitcoin will prosper under Trump presidency. Hopefully we will see bitcoin reach $100k as more opinion polls are conducted that put him on the lead.