Monday saw Bitcoin reach a two-week high as betting markets indicated that Donald Trump, the candidate who is sympathetic to cryptocurrencies, had a better chance of winning the US presidential election.
The value of bitcoin, the largest cryptocurrency in the world, increased by 5.8% to $63,555.01.
The historic murder attempt on the former president on Saturday is being followed by the demonstration.
FedWatch Advisors chief investment officer Ben Emons stated in an email that “there is a ‘parallel’ to the 1981 shooting of President Reagan” despite the fact that it was not an election year.
Reagan’s popularity shot through the roof following the incident, coinciding with a double-dip recession.
On the other hand, the subsequent economic downturn caused the S&P 500 to drop by 9%.
However, given the robust economy we currently have, it is possible that the former president Trump’s popularity will soar and have a favourable effect on markets.
Source (CNBC)
