On July 13, 2024, Donald Trump, the Republican presidential candidate and former president of the United States, was shot during a rally in Pennsylvania. This shocking news has had a global impact and has also affected the 2024 US presidential election. Some analysts have pointed out that Trump's survival from this assassination attempt may lead to an "overwhelming victory" for him in the November election.

This development has also reignited enthusiasm in the cryptocurrency industry. After the shooting on Saturday, the price of Bitcoin surged significantly. At the time of writing, its trading price exceeded $61,500, reaching a new high within a week, with a 24-hour increase of 3.3%. The second-largest cryptocurrency, Ethereum, also saw an increase of over 3.1% within 24 hours, while the prices of other smaller tokens fluctuated. Overall, the entire cryptocurrency market capitalization increased by 2.42% within 24 hours.

Why Does Trump's Assassination Attempt Affect Coin Prices?

In his early years, Trump did not support cryptocurrencies, but he has recently made multiple statements in support of them. The latest draft of the Republican Party's platform explicitly states the intention to "end the suppression of cryptocurrencies," opposes the introduction of central bank digital currencies, defends the rights of Bitcoin mining, and upholds the rights to custody and free trading of digital assets.

At the beginning of this round of election campaigns, Trump has made clear his support for the cryptocurrency market and even shouted the slogan "Make cryptocurrencies all made in America," winning the support of cryptocurrency enthusiasts.

To consolidate his support in this market, he also plans to speak at a Bitcoin conference on July 27. The cryptocurrency industry, which has been tormented by the strict scrutiny policies of the Biden administration, is eagerly anticipating Trump's return to power.

The failed assassination attempt has increased Trump's chances of re-election, which has given Bitcoin the momentum to rise. Some analysts have pointed out that the cryptocurrency market will experience greater volatility, and its increase will be similar to the surge after the presidential TV debate in June. After that broadcast, due to Biden's poor mental state, the market significantly raised its expectations for Trump's victory.

In addition, many large hedge funds are actively buying Bitcoin. The macro sentiment is also very positive, with inflation slowing down and market expectations that the Federal Reserve is highly likely to cut interest rates in September, which aligns with the upward trend of Bitcoin and cryptocurrencies.

Is Trump's Concern for the Crypto Industry Not Genuine?

However, some may argue that Trump's sudden interest in cryptocurrencies is not sincere and is merely an attempt to please the young, politically active, and nouveau riche cryptocurrency community. Trump is a shrewd politician who will say anything to anyone seeking re-election. Once in office, anything related to cryptocurrencies will become a distant memory.

But looking at the assassination attempt itself, when political struggles escalate to the stage of armed conflict and assassination, the underlying internal divisions in the United States and social contradictions are increasingly becoming explicit problems. Perhaps, in the not-so-distant or even more distant future, people's concerns about war may also become a reality, which would further strengthen Bitcoin and the underlying cryptocurrency assets as the ultimate global safe-haven assets.

A more direct impact is that whether it is Biden or Trump taking office, they will not be able to ignore the influence of cryptocurrency assets and the Generation Z young people behind them, and compliance may be further accelerated. After all, as an almost 80-year-old man, Trump should understand that the world will ultimately belong to these young people, who will lead the opening of a new era. Whether willing or not, the trend of cryptocurrency is already established, and it is better for it to develop in compliance rather than being rife with fraud. Trump's raised fist and blood may not only be a scene worthy of being recorded in American political history but may also be a classic footnote to the cryptocurrency world's transition to the "compliance era."

So, What Should Ordinary Investors Do?

Trump's assassination attempt may become an important opportunity for the bull market in the cryptocurrency industry. The current time may be a good entry point for buying Bitcoin, especially with the positive trend of Ethereum, which has sparked investors' enthusiasm. However, investment carries risks, and before purchasing cryptocurrencies, it is important to choose a reliable trading platform. This requires in-depth research and understanding of each trading platform, and then selecting a trusted platform. Here, I recommend looking into BiyaPay.

Using traditional methods to purchase Bitcoin and other cryptocurrencies often encounters some troubles, such as bank card freezes during deposits and withdrawals. To avoid these risks, it is advisable to prepare an overseas bank account in advance for exchanging the local currency into US dollars, withdrawing to this account, and then using the US dollars to purchase Bitcoin and other cryptocurrencies on the BiyaPay platform.

Will Bitcoin Continue to Rise in the Future?

Trump's assassination attempt may just be an opportunity, an incidental event, but as the ultimate global safe-haven asset, coupled with factors such as Bitcoin halving, the bull market may have only just begun.

Some analysts point out that there are three major bullish factors to look forward to in the second half of 2024:

First, including the market's expectation that the Federal Reserve will cut interest rates by 1-2 notches. Second, the current US presidential election favors Trump, which should benefit the regulatory environment for the virtual asset industry. Third, the scarcity of Bitcoin after halving remains a favorable factor for long-term support of its price. Once the selling pressure recedes, it will be the real entry opportunity.

Expectation of Fed Rate Cuts

First, from a macroeconomic perspective, following the release of US CPI, PCE, and other data, the latest non-farm payroll data for June showed an increase of 206,000 people, indicating a slowdown compared to May, and the unemployment rate rose to 4.1%, slightly higher than May's 4%. This further deepens the market's expectation of a rate cut by the Federal Reserve in September, and the market mostly expects a 1-2 notch rate cut in the second half of this year. Cryptocurrency experts believe that lower interest rates will make high-risk investment projects such as virtual currencies more attractive.

US Presidential Election

Second, as a result of the first presidential debate in the US, the market believes that Trump's performance was better than Biden's, and the recent assassination attempt further increases the probability of Trump's victory. Trump has previously publicly supported cryptocurrencies, expressing a positive and open attitude towards virtual currency companies and related industries, and believes that the US must become a leader in the virtual asset industry, supporting the self-custody rights of 50 million virtual currency holders in the US. The market is optimistic that after Trump's victory in November, it will drive the subsequent rise of Bitcoin and believes that Trump's policies will make virtual assets more attractive.

Bitcoin Halving

Third, industry insiders believe that Bitcoin's halving will increase its scarcity. Since the supply of Bitcoin is fixed, with a total limit of 21 million coins and a halving event occurring every four years, each halving reduces the block reward by half, thereby reducing the number of new Bitcoins entering the market. This fixed supply and gradually decreasing issuance rate will increase the scarcity of Bitcoin. From the perspective of the economic principle of supply and demand, if the supply gradually decreases but the demand remains unchanged or increases, it will further drive up the price of Bitcoin. Industry experts believe that driven by these long-term bullish factors, Bitcoin still has the opportunity to surpass its previous high of $73,000, and the current bull market may break through the $80,000 or even $100,000 mark. However, it may enter a consolidation phase in the short term, and patience and long-term holding of Bitcoin will ultimately lead to success.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。