(Photo= AP Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] After news broke that Donald Trump, former U.S. President and Republican presidential candidate, was shot during a campaign rally on the 13th, the price of the cryptocurrency Bitcoin surged. This increase was fueled by growing optimism that Trump would win the November election.

Bitcoin, which was trading around $58,000 earlier in the day, spiked to the $59,000 range following reports of the shooting incident involving Trump. As of 9:55 PM Eastern Time, Bitcoin was trading at $59,709, up 3.09% from 24 hours earlier. At one point, Bitcoin even reached as high as $59,800, nearing the $60,000 mark. The last time Bitcoin traded at around $60,000 was on the 3rd of this month.

The rise in Bitcoin's price following news of Trump's shooting is attributed to increased belief that he has a strong chance of winning the November election. Trump, the Republican presidential candidate, is perceived as more favorable towards the cryptocurrency industry compared to President Biden.

Bloomberg reported that "bets on Trump's victory in the November election are sharply increasing."

 

 

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