Massive Volatility in Crypto Markets Amid Donald Trump Shooting

The biggest news story of the last 24 hours involved US Republican presidential candidate Donald Trump being shot during a rally in Pennsylvania.

The news has made headlines in recent hours and even resulted in massive volatility in cryptocurrency markets over the weekend, which is quite unusual.

According to recent reports, 20-year-old Thomas Matthew Crooks has been identified as the “subject involved” in the attempted assassination of former US President Donald J. Trump.

The shooting occurred less than 12 hours ago during a rally in Butler, Pennsylvania. Trump was taken off the main stage with blood on his ear and face.

This was the first public shooting of a high-ranking US politician in more than 40 years, when Ronald Reagan was shot by John Hinkley Jr. in 1981.

According to According to the BBC, Trump was taken to a local hospital but has since been released and returned to his home in New Jersey.

During his first presidency, Trump was a staunch critic of Bitcoin and the entire cryptocurrency industry, but he has changed his stance during his current campaign, unlike current President Joe Biden.

It is therefore no surprise that the shooting has had a dramatic effect on the cryptocurrency market, with a lot of volatility across most assets.

Weekends are usually pretty disappointing for BTC, but the events that unfolded on Saturday (US time) led to several big price movements, including a surge from $58,300 to $60,400 in just a few hours.

Despite losing some ground since then, bitcoin is still close to the $60,000 mark it lost earlier this month.

Bitcoin/Price/Chart 14.07.2024. Source: TradingView

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