Summary
- Bitcoin’s price reclaimed the $62,000 important mark, after Trump’s assassination attempt.
- An easing macro environment could trigger a price rally in the coming months.
The past weekend has shaken the world following the latest political events. On Saturday, July 13, a gunman attempted to assassinate former President Donald Trump but failed.
Trump was shot in the ear during the attack at a rally in Pennsylvania, and now, the former president is doing well, according to the latest reports from Reuters press agency.
Elon Musk showed his support for Trump after the shooting via his X account.
Trump has already positioned himself as a pro-crypto Presidential candidate and the crypto market reacted to the latest political events.
Also, according to official reports, Trump is due to speak at the Bitcoin 2024 conference in Nashville Tennessee on July 27, according to the event’s organizers.
Bitcoin Surpasses $62K
Amidst the political events, the price of Bitcoin surpassed the important $62,000 level this morning.
At the moment of writing this article, BTC is up by 4% today.
According to the latest reports from analysts, with Germany’s Bitcoin sell-off over, and the Mt. Gox repayments being already priced in, an easing macro environment could drive Bitcoin’s price in the next months.
Ben Simpson, the founder of the crypto education platform Collective Shift has recently said that Bitcoin’s price has already bottomed and now, the coin is heading for an uptrend.
He also said that the price of BTC has been “hammered” by the forced selling of coins, most of which stemmed from the German Government. Also, another factor that has contributed to the Bitcoin price decline was the negative sentiment towards the Mt. Gox creditor repayments.
On July 12, the Crypto Fear & Greed Index fell to its lowest level in 18 months, and Simpson said this was at odds with a more fundamentals-based approach to the broader market environment.
He also addressed some key factors that could be bullish for the future of Bitcoin. He mentioned that Jerome Powell is hinting toward potentially lowering rates at some point soon.
The S&P 500 is ripping to new highs, according to him, and there is also a strong inflow streak in Bitcoin ETFs. All these factors could support a price rally for the coin, along with expectations regarding the US elections’ outcome.