Bitcoin Surged to a Two-Week High of $63,000
Bitcoin started the new trading week with an increase of 5%, reaching the $63,000 mark. Many experts attribute this growth to the failed attempt to assassinate Trump, who has positioned himself as a supporter of cryptocurrencies.
Weekly growth of the main cryptocurrency amounted to 12%. Bitcoin started Monday with a 5% rise, hitting a two-week high at $63,000.
After the attempt to assassinate Trump this past weekend, the cryptocurrency market saw increased volatility on some assets. Some experts believe that this incident may well have boosted trading in the cryptocurrency market. Bitcoin managed to overcome the 200-day simple moving average and resume growth. Political-themed tokens also saw notable growth.
In the race for the presidency, Trump decided to change his stance on cryptocurrencies to a more favorable one. This is how Donald Trump hopes to attract more voters from the cryptocurrency sector. The US presidential candidate is aiming for a friendlier regulation than his opponent, Joe Biden. And the market seems to be responding to him in the same way. Despite the incident, Trump is still set to speak at the Bitcoin 2024 conference in Nashville at the end of July.
Another reason for the revival in the cryptocurrency market is that Germany has finished selling off its Bitcoin holdings, thus ending the pressure on the market.
At the time of writing, Bitcoin was trading near the $63,000 mark. The next key resistance is near $63,500. A close above this level could send the price of the major cryptocurrency higher, and Bitcoin could test $65,000. Otherwise, Bitcoin could fall to $61,500, $61,000, $60,000 and lower.
