Last Monday, Bitcoin had a price surge that hit a two-week high — over $62,000. While 2024 has been an exciting year for BTC in general, No one could have anticipated the latest crypto highs and hype. In fact, if you did you would be privy to a crime…
As many are aware, an attempt was made on former president Donald Trump’s life at a Pennsylvania rally.
However, the fact that Trump survived has convinced Bitcoin investors that he will win in November causing the surge. But, why?
Although in the past, the former president has been critical of cryptocurrencies, he is now an outspoken advocate.
As a result, Donald Trump has made two political moves that appeal to BTC investors:
- He is accepting campaign donations in Bitcoin.
- He has pledged to support crypto mining in the US if re-elected.
All that being said, Bitcoin and cryptocurrencies have had drastic ups and downs. So, can this uptick last?
Is Bitcoin Surge Just a Flash in the Pan?
Carol Alexander, professor of finance at the University of Sussex, described this Bitcoin surge as…
“A KNEE-JERK REACTION.”
Via Business Insider
At the same time, one must also consider that the price of BTC is $64,626.20 at the writing of this article.
That means its value has only kept creeping up.
Nevertheless, it will be interesting to see how the November election will affect crypto going forward.
Until then, be great.
— GCTV Staff
Disclaimer: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.
