Massive Volatility in Crypto Markets Amid Donald Trump Shooting

5 months ago 2

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The biggest news in the past 24 hours involved the Republican presidential candidate in the US – Donald Trump – who was shot at during a rally in Pennsylvania.

The news made all headlines in the past several hours and even resulted in massive volatility in the crypto markets during the weekend, which is quite untypical.

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 took place 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 against a high-ranking US politician in more than 40 years when Ronald Reagan was shot by John Hinkley Jr in 1981.

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

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

As such, it’s no surprise that the shooting had a dramatic effect on the crypto market, with tons of volatility from most assets.

The weekends usually go quite underwhelming for BTC, but the events that transpired on Saturday (US time) led to several big price moves, including a surge from $58,300 to $60,400 within hours.

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