Bitcoin soars to two-week high after Trump attack

[larry_vw_1955]

Bitcoin surged to a two-week high on Monday after the attempted assassination of U.S. presidential candidate Donald Trump raised the odds of the former president, who has presented himself as a champion of cryptocurrency, winning the upcoming election.

https://www.reuters.com/technology/bitcoin-soars-two-week-high-after-trump-attack-2024-07-15/

when he was president the first time. the IRS started making all those rules about how you had to pay taxes even if you didn't convert it to fiat. so his history is that he hasn't done anything to help people using crypto, bitcoin in particular. he's just sat by and let the IRS make all these rules. rules that hurt people using bitcoin.

i think he had his chance once and he dropped the ball. i don't know why he deserves a second chance.

[avikz]

The attack on Trump has increased the chance of him being elected as a president once again! Also seeing a strong support on Bitcoin, Trump suddenly has started supporting it even though he was very negative about it during his first term. Not going deeper into politics, but people who are speculating about trump's president term will bring in some relief for the Bitcoiners in the country, that might not happen in reality! I will be personally very happy if we see a positive change towards Bitcoin in US, but still somewhat skeptical about it.

I am not sure whether he deserves a 2nd chance or not. But we are seeing a surge in right wing power all around the world. Trump is a known right wing supporter so I won't be surprised if he get elected for the 2nd term. The market might be soaring in speculation but cautious steps may needed.

[Oshosondy]

when he was president the first time. the IRS started making all those rules about how you had to pay taxes even if you didn't convert it to fiat. so his history is that he hasn't done anything to help people using crypto, bitcoin in particular. he's just sat by and let the IRS make all these rules. rules that hurt people using bitcoin.

i think he had his chance once and he dropped the ball. i don't know why he deserves a second chance.

But you can understand that politics is politics right? Trump can looked for ways to make sure that he wins Biden and become the next president of United States again. He will look for all ways to make sure that he can get there. He saw that cryptocurrencies has become mainstream which means people are into it. He then used it against Biden as he wants people that are dealing in cryptocurrencies to vote for him. I think his strategy is helping him as this has given him more chance to become the next president of United States. But as for the price rise, I do not see correlation of it to his assassination attempt.

[fuguebtc]

... i don't know why he deserves a second chance.

I don't completely trust what he says and as in many previous discussions, we all agree that the words of politicians really cannot be trusted or that only part of what they say should be trusted. But I also don't see any reason not to give him a second chance, everyone has a second chance as long as they really realize their mistakes and are sincere. With his recent statements as well as choosing a vice president who is also a cryptocurrency advocate, he is trying to prove that he is serious about what he says. Second, the current government is quite harsh on cryptocurrencies and I think there won't be too much hope or positive changes if they continue to be in power.

Putting politics aside, I just look at the crypto factor and I will support someone who creates benefits for the crypto industry.
https://www.independent.co.uk/tech/trump-bitcoin-vance-pro-crypto-b2580495.html

[Jating]

i think he had his chance once and he dropped the ball. i don't know why he deserves a second chance.

It could be true, but come to think though, we are in a bull run, Bitcoin ETF has been dominating the news at the start of the year and it did push the market to a new all time high. Others says that it's already price-in so we need another positive news that could really trigger the market again post-halving.

So maybe Trump being elected again, could be the trigger point and also his stance on crypto seems to be very positive at this point although we can argue that it could be very different when he sits in January. What I'm saying is that he could be the in the news this November and if he win then it could trickle down not just in crypto but in all other assets like Stocks, and Gold and maybe we can see those market gaining because of him.

[joniboini]

i think he had his chance once and he dropped the ball. i don't know why he deserves a second chance.

There are probably no better candidates from his party. I mean he's quite popular, has decent supporters, and so on. Some of his decisions probably don't make sense but there's no way you'll nominate someone else if your party want the chance to win the election. Not to mention his opponent made some blunders too. I also agree that concluding his assassination attempt as one of the reason why we're pumping is a bit far-fetched.

[larry_vw_1955]

So maybe Trump being elected again, could be the trigger point and also his stance on crypto seems to be very positive at this point although we can argue that it could be very different when he sits in January. What I'm saying is that he could be the in the news this November and if he win then it could trickle down not just in crypto but in all other assets like Stocks, and Gold and maybe we can see those market gaining because of him.

The democrats are pushing for Joe Biden to drop out of the presidential campaign it might be a done deal

Assuming Trump wins NOT A BIG ASSUMPTION do you really think he is going to repeal the rule that you have to pay tax on bitcoin even if you didn't convert it to fiat? No of course not. So nothing is going to change...

[kryptqnick]

Bitcoin is rising, and so is the crypto market overall if we look at top cryptocurrencies. Whether it's related to Trump or not, it's good to see such a prompt recovery, following BTC sales by Germany and for Mt. Gox victims. Looking at the price chart and the date of the assassination attempt, it seems likely that growth was driven by the results of that event. However, it's not sustainable growth because people will get over the fact that Trump nearly got killed and that he presents himself as a pro-Bitcoin candidate, I believe.

[dzungmobile]

Bitcoin is rising, and so is the crypto market overall if we look at top cryptocurrencies. Whether it's related to Trump or not, it's good to see such a prompt recovery, following BTC sales by Germany and for Mt. Gox victims. Looking at the price chart and the date of the assassination attempt, it seems likely that growth was driven by the results of that event. However, it's not sustainable growth because people will get over the fact that Trump nearly got killed and that he presents himself as a pro-Bitcoin candidate, I believe.

Bitcoin market will move up or down in its own way. There are times it seems to be correlated with stock market, S&P500, gold, politics but in a long time, we see no absolute correlation.

The USA, China, Germany, El Salvador and any nation, is only catalyst for the Bitcoin market and its adoption. You can not stop a thing that is supported by people, not only in your nation but around the globe. You can not stop a decentralized thing like Bitcoin network.

It is designed to give people full control of their assets, with private keys and no ways for anyone to steal your bitcoin if they don't know your private keys.

https://www.theblock.co/data/crypto-markets/prices/btc-pearson-correlation-30d

[Kakmakr]

I do not know if it is really about the assassination, but rather the fact that he is more pro Bitcoin than Biden. There has also been some news on the reserve Bank becoming more open-minded about Bitcoin and how BlackRock's Bitcoin ETF has seen phenomenal support in the financial sector.

Bitcoin has evolved from something used by a small amount of fanatical supporters, to something that has gone mainstream in the financial world. Most of the old school financial dinosaurs, will not accept change and they are outspoken about their negative views on Bitcoin, but the world are changing around them.  

[Wexnident]

~

To be fair, I'd also let the tax people do their thing than put my word for it when I don't know everything about it. Went badly yea I suppose, but all he wanted with Bitcoin was to win the politics. After he won he just left it to people who know what to do.

Now I particularly don't know if he deserves a second chance but, well, I'd say he's the lesser of the two evils between the two choices right now so I'd go with him (not that I can vote though lol).

And in general, Bitcoins doing fine. I don't even think the pump has anything to do with the assassination tbf, just a coincidence that the timeline matched.

[Taskford]

The attack on Trump has increased the chance of him being elected as a president once again! Also seeing a strong support on Bitcoin, Trump suddenly has started supporting it even though he was very negative about it during his first term. Not going deeper into politics, but people who are speculating about trump's president term will bring in some relief for the Bitcoiners in the country, that might not happen in reality! I will be personally very happy if we see a positive change towards Bitcoin in US, but still somewhat skeptical about it.

I am not sure whether he deserves a 2nd chance or not. But we are seeing a surge in right wing power all around the world. Trump is a known right wing supporter so I won't be surprised if he get elected for the 2nd term. The market might be soaring in speculation but cautious steps may needed.

People already see the worst from Biden administration and when they see that Trump support bitcoin then it creates some hype for his name and it gather the votes of people. Also after that shooting incident it leaves impression that his opponent are so desperate and try to eliminate him that's why Trump gather a lot of sympathy for people because many think that desperation will not bring anything good to their country.

So we can assume that Trump winning in this election is  inevitable since his candidacy and support is so strong and it seems people are just waiting for election day and they would have a new President that open on good developments in their country. We just hope that he should follow what he say since it will bring a lot of things to bitcoin and maybe this could bring more demands.

[retreat]

-snip-

And in general, Bitcoins doing fine. I don't even think the pump has anything to do with the assassination tbf, just a coincidence that the timeline matched.

I feel that this is not just a coincidence, in a way Trump's shooting had an impact on his electability and that has given him the upper hand for now. This affects the psychology of bitcoin investors and makes people increasingly confident that he will be able to become POTUS and make regulations that benefit Bitcoin investors. and that makes people buy more Bitcoin to prepare themselves if Trump is elected and the Bitcoin market experiences a pump.

[microsurfer]

Not sure that atttack itself caused that soar. We have several bullish statements for btc in the recent days

[justdimin]

Bitcoin surged to a two-week high on Monday after the attempted assassination of U.S. presidential candidate Donald Trump raised the odds of the former president, who has presented himself as a champion of cryptocurrency, winning the upcoming election.

https://www.reuters.com/technology/bitcoin-soars-two-week-high-after-trump-attack-2024-07-15/

when he was president the first time. the IRS started making all those rules about how you had to pay taxes even if you didn't convert it to fiat. so his history is that he hasn't done anything to help people using crypto, bitcoin in particular. he's just sat by and let the IRS make all these rules. rules that hurt people using bitcoin.

i think he had his chance once and he dropped the ball. i don't know why he deserves a second chance.

To be fair 64k isn't that "high" if you ask me, not bad neither but not that high and not that crazy. We need to make sure that we know what we are doing if we are talking about any highs or so. If you tell people that it is at 2 week high, they are going to think that it already got up and that's it.

But, we need to remember it is also very much lower than what we had a month or so ago as well, we were at all time high just this year, being like 73k or even 75k should not be impossible for us. It means that it is going to cause a lot of trouble for people who miss out and not buy it because they think it's already high. It is still time to buy and we should still consider buying some, it will benefit us and will not make it that terrible for anyone to hold some.

[pooya87]

The price was already on the rise and had already gone up from the bottom at $56k to $59k before the assassination attempt and then it continued rising up exactly like last time we were in this situation which was back in May where price crashed down to $56k and then since it couldn't go any lower, trend reversed and price went back up to $59k and then continued rising to $72k.

Trying to tie this pattern that has repeated before like a pattern to some very insignificant event in small part of the world is just silly.

[Coin_trader]

Assuming Trump wins NOT A BIG ASSUMPTION do you really think he is going to repeal the rule that you have to pay tax on bitcoin even if you didn't convert it to fiat? No of course not. So nothing is going to change...

Bitcoin has value already and now regulated. Bitcoin should be tax whether you like it or not or else it will be an easy escape goat for tax evaders.

If you are really gaining something on Bitcoin then why you don’t like to pay taxes. It’s your obligation as citizen to pay taxes if you gain. Be happy US citizens is not restricted to use Bitcoin because government already regulating it properly unlike other country that discouraged the use of Bitcoin through total ban and unfavorably tax percentage.

[Darker45]

For me, it seems Trump is winning again simply because he doesn't have a formidable opponent. It's a lesser-evil election. Neither is a good candidate. One can only choose the candidate who would cause fewer problems in the years to come.

I'm not a US citizen. I can't vote for either Trump or Biden but while Trump seems favorable because he is pro-Bitcoin, it might simply be a lie in the end. Moreover, he has a big mouth and is apparently a troublemaker. He's also impulsive and engages his mouth first before his brain. I am a bit worried about this because, whether we like it or not, US' decisions can affect the rest of the world.

But since Trump is already a shoo-in if Biden doesn't drop out of the race, it's interesting how he translates his pro-Bitcoin pronouncements into policies and regulations when he's the president once more.

[MainIbem]

The price was already on the rise and had already gone up from the bottom at $56k to $59k before the assassination attempt and then it continued rising up exactly like last time we were in this situation which was back in May where price crashed down to $56k and then since it couldn't go any lower, trend reversed and price went back up to $59k and then continued rising to $72k.

Exactly, it's not as if the assassination attempt influenced the price, the potential of it's elevation was already there and whether the attempt of assassination on trumph occurred or not, I believe Bitcoin would had still had rise up from 56k to it's current state, it's just like months ago when some people thought the approval of the Bitcoin ETF would cause the price to increase very high but we saw a decrease after it was approved and it later traced back. Well, I understand that Trumph is a Bitcoin enthusiast and has vowed to help the Bitcoin Community against the IRS if he emerges again as the president of the States and that has convinced more people to consider Bitcoin but I don't see the assassination attempt as being the cause of Bitcoin improvement lately.

[Poker Player]

It seems to me that there are going to be a lot of fellow forum members who are going to be screwed by what is most predictable: that Trump wins and implements policies favorable to Bitcoin and against CBDCs. All this coupled with a predictable price rally in the meantime with expectations and because of the point in the cycle we are at.