Bitcoin soars to two-week high after Trump attack

Distinctin

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Quote from: avikz on July 19, 2024, 12:57:38 AM

The attack on Trump has increased the chance of him being elected as a president once again! Also seeing a strong support on Bitcoin, Trump suddenly has started supporting it even though he was very negative about it during his first term. Not going deeper into politics, but people who are speculating about trump's president term will bring in some relief for the Bitcoiners in the country, that might not happen in reality! I will be personally very happy if we see a positive change towards Bitcoin in US, but still somewhat skeptical about it.

I am not sure whether he deserves a 2nd chance or not. But we are seeing a surge in right wing power all around the world. Trump is a known right wing supporter so I won't be surprised if he get elected for the 2nd term. The market might be soaring in speculation but cautious steps may needed.

If Trump is the only key right now to see bitcoin price consistently move upward, hence this is a good sign that Trump deserves a second chance, but we should still do more observations in the next months while the election is far ahead. Trump can be extra good for crypto while he is in the process of winning the crypto community, but let's see if this will still remain if he will be given the second chance.

It's Biden over Trump now, and our only obligation now is to vote wisely. Not only for the sake of the present, but most especially how they will change and improve the future.

jaberwock

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Quote from: Emmanuelex on July 19, 2024, 02:40:15 PM

Just because he didn't support Bitcoin before doesn't make him a wrong candidate, neither does it mean he can't change. People tend to misunderstand Bitcoin at first and always oppose the idea of cryptocurrency in general, until they really get to understand it. Take a look at some well known figures that publicly spoke against Bitcoin and how they later changed after they got to learn and understand what Bitcoin is all about. I believe Trump is on that path of understanding right now. May the best candidate win.

It is not only about BTC but he was also involved for other hassles. That gives him a bad name for the majority. People still change as they say, so I guess you are right that we can try to give this man a chance and he can start it with BTC by adopting it and spreading its word. It's true that as a beginner, it's normal to misinterpret it but what is only wrong is if they will make a public statement. This triggers us who support BTC easily because people who are not yet here might get discouraged from entering.

Quote from: larry_vw_1955 on July 19, 2024, 07:53:48 PM

when have you ever heard trump say that he holds a sizeable investment in bitcoin? he doesn't care about bitcoin at all!

They think he does now because of these positive stuffs that we are seeing and there is no need for a BTC investor to showcase how much BTC they hold because they think they are braggy with it and it can also give them a protection from the bad guys.

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Quote from: Coin_trader on July 19, 2024, 08:47:45 AM

Bitcoin has value already and now regulated. Bitcoin should be tax whether you like it or not or else it will be an easy escape goat for tax evaders.

I didn't say bitcoin should not be taxed but i think it should only be taxed when conversion to fiat occurs. if we can't get it back to that rule then nothing else is going to matter at least for americans.

Quote from: Emmanuelex on July 19, 2024, 02:40:15 PM

Just because he didn't support Bitcoin before doesn't make him a wrong candidate, neither does it mean he can't change. People tend to misunderstand Bitcoin at first and always oppose the idea of cryptocurrency in general, until they really get to understand it. Take a look at some well known figures that publicly spoke against Bitcoin and how they later changed after they got to learn and understand what Bitcoin is all about. I believe Trump is on that path of understanding right now. May the best candidate win.

the thing is though that people like robert kyosaki actually invest into bitcoin. when have you ever heard trump say that he holds a sizeable investment in bitcoin? he doesn't care about bitcoin at all!

Emmanuelex

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Just because he didn't support Bitcoin before doesn't make him a wrong candidate, neither does it mean he can't change. People tend to misunderstand Bitcoin at first and always oppose the idea of cryptocurrency in general, until they really get to understand it. Take a look at some well known figures that publicly spoke against Bitcoin and how they later changed after they got to learn and understand what Bitcoin is all about. I believe Trump is on that path of understanding right now. May the best candidate win.

ndutndut

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Quote from: retreat on July 19, 2024, 07:27:26 AM

Quote from: Wexnident on July 19, 2024, 06:40:29 AM

-snip-

And in general, Bitcoins doing fine. I don't even think the pump has anything to do with the assassination tbf, just a coincidence that the timeline matched.

I feel that this is not just a coincidence, in a way Trump's shooting had an impact on his electability and that has given him the upper hand for now. This affects the psychology of bitcoin investors and makes people increasingly confident that he will be able to become POTUS and make regulations that benefit Bitcoin investors. and that makes people buy more Bitcoin to prepare themselves if Trump is elected and the Bitcoin market experiences a pump.

Agree. This is not just a coincidence, even though Trump's shooting is related to hot politics because Trump is a strong candidate for President of America, this shooting has greatly influenced the voting map in America and this will indirectly affect the psychology of investors. we know that Trump is very supportive of technology. bitcoin than president Biden. It is true that no one can control Bitcoin, but world politics greatly influences the decisions of big investors.

In recent weeks, Bitcoin is back on track, although it plummeted due to Germany selling Bitcoin. Although the shooting is not a major factor in Bitcoin's current rise, it has made Trump win a very large percentage in the upcoming presidential election, so this also has an impact on investors.

khiholangkang

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Quote from: larry_vw_1955 on July 18, 2024, 09:24:20 PM

Bitcoin surged to a two-week high on Monday after the attempted assassination of U.S. presidential candidate Donald Trump raised the odds of the former president, who has presented himself as a champion of cryptocurrency, winning the upcoming election.

https://www.reuters.com/technology/bitcoin-soars-two-week-high-after-trump-attack-2024-07-15/

when he was president the first time. the IRS started making all those rules about how you had to pay taxes even if you didn't convert it to fiat. so his history is that he hasn't done anything to help people using crypto, bitcoin in particular. he's just sat by and let the IRS make all these rules. rules that hurt people using bitcoin.

i think he had his chance once and he dropped the ball. i don't know why he deserves a second chance.

After that incident it was like Trump got a miracle for his electability to increase very quickly in a few days, everyone was talking about it and making a lot of speculation so that his name kept getting mentioned and being noticed, maybe because he had said he supported the bitcoin industry, this attracted investors to buy bitcoin because of the possibility that regulations would be changed in America.

I think Trump was previously very skeptical about Bitcoin and that's what made him not care about anything the IRS did during his tenure, now like Lary Fink before him who said that bitcoin was a scam, but after he learned about it he even launched a Bitcoin ETF, and I think Trump is also in that phase after realizing that Bitcoin is a strong enough base for the future with many enthusiasts in America who have been suppressed during Biden's tenure.

Dr.Bitcoin_Strange

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During election period, contesting candidates normally make use of what the citizens love most or what they have always sought; those are the kinds of things that running candidates use as a tool to win the hearts of the people so that they can be voted for. Candidates can make a lot of false promises to the people just so that they can vote for them, and after they finally win the election, all those promises are dropped; perhaps it's just politics.

I still remember some articles I read before now, it tells me how much distrust Trump has expressed about Bitcoin, and he has mentioned before that Bitcoin could be a scam. So, what Trump is currently doing is just because of the election, I guess. He wants to win, and he will employ every strategy that will help him.

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Quote from: avikz on July 19, 2024, 12:57:38 AM

The attack on Trump has increased the chance of him being elected as a president once again!

A blessing in disguise Roll Eyes

Btw, too many things not going Biden's way at the moment such that Trump has capitalised on them..the Ukraine war, handling of public resources etcetera I really didn't see Trump bouncing back but after the failed assassination attempt voters could give him another shot.

Quote from: avikz on July 19, 2024, 12:57:38 AM

Also seeing a strong support on Bitcoin, Trump suddenly has started supporting it even though he was very negative about it during his first term.

The internet doesn't forget, am just surprised that the man has changed goal posts and am wondering why the sudden change of heart from nowhere Huh

Are his financial backers coming from a crypto background like Dam of FTX Roll Eyes

Quote from: avikz on July 19, 2024, 12:57:38 AM

Not going deeper into politics, but people who are speculating about trump's president term will bring in some relief for the Bitcoiners in the country, that might not happen in reality! I will be personally very happy if we see a positive change towards Bitcoin in US, but still somewhat skeptical about it.

Trump is a great hype man and if his at the time being his pro Bitcoin, the surely this works in our favour Cool

Smartvirus

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Quote from: larry_vw_1955 on July 18, 2024, 09:24:20 PM

i think he had his chance once and he dropped the ball. i don't know why he deserves a second chance.

To simply put it, Trump ain’t coming to be president of Bitcoin, he isn’t here to govern Bitcoin but to be the president of America. His support for Bitcoin is only an item in his campaign and that’s it. He deserves whatever chance the citizens of America allows him to get and personally, I think he fits the bill.
I wouldn’t want to give him much of the credit for the surge in Bitcoin price at the moment, although is pro-Bitcoin inclusive campaign might have some effects to it but, Bitcoin had endured a bear move for a bit prior to the attempted on Trump.

Poker Player

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It seems to me that there are going to be a lot of fellow forum members who are going to be screwed by what is most predictable: that Trump wins and implements policies favorable to Bitcoin and against CBDCs. All this coupled with a predictable price rally in the meantime with expectations and because of the point in the cycle we are at.

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Quote from: pooya87 on July 19, 2024, 08:44:30 AM

The price was already on the rise and had already gone up from the bottom at $56k to $59k before the assassination attempt and then it continued rising up exactly like last time we were in this situation which was back in May where price crashed down to $56k and then since it couldn't go any lower, trend reversed and price went back up to $59k and then continued rising to $72k.

Exactly, it's not as if the assassination attempt influenced the price, the potential of it's elevation was already there and whether the attempt of assassination on trumph occurred or not, I believe Bitcoin would had still had rise up from 56k to it's current state, it's just like months ago when some people thought the approval of the Bitcoin ETF would cause the price to increase very high but we saw a decrease after it was approved and it later traced back. Well, I understand that Trumph is a Bitcoin enthusiast and has vowed to help the Bitcoin Community against the IRS if he emerges again as the president of the States and that has convinced more people to consider Bitcoin but I don't see the assassination attempt as being the cause of Bitcoin improvement lately.

Darker45

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For me, it seems Trump is winning again simply because he doesn't have a formidable opponent. It's a lesser-evil election. Neither is a good candidate. One can only choose the candidate who would cause fewer problems in the years to come.

I'm not a US citizen. I can't vote for either Trump or Biden but while Trump seems favorable because he is pro-Bitcoin, it might simply be a lie in the end. Moreover, he has a big mouth and is apparently a troublemaker. He's also impulsive and engages his mouth first before his brain. I am a bit worried about this because, whether we like it or not, US' decisions can affect the rest of the world.

But since Trump is already a shoo-in if Biden doesn't drop out of the race, it's interesting how he translates his pro-Bitcoin pronouncements into policies and regulations when he's the president once more.

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Quote from: larry_vw_1955 on July 19, 2024, 05:18:01 AM

Assuming Trump wins NOT A BIG ASSUMPTION do you really think he is going to repeal the rule that you have to pay tax on bitcoin even if you didn't convert it to fiat? No of course not. So nothing is going to change...

Bitcoin has value already and now regulated. Bitcoin should be tax whether you like it or not or else it will be an easy escape goat for tax evaders.

If you are really gaining something on Bitcoin then why you don’t like to pay taxes. It’s your obligation as citizen to pay taxes if you gain. Be happy US citizens is not restricted to use Bitcoin because government already regulating it properly unlike other country that discouraged the use of Bitcoin through total ban and unfavorably tax percentage.

pooya87

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The price was already on the rise and had already gone up from the bottom at $56k to $59k before the assassination attempt and then it continued rising up exactly like last time we were in this situation which was back in May where price crashed down to $56k and then since it couldn't go any lower, trend reversed and price went back up to $59k and then continued rising to $72k.

Trying to tie this pattern that has repeated before like a pattern to some very insignificant event in small part of the world is just silly.

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Quote from: larry_vw_1955 on July 18, 2024, 09:24:20 PM

Bitcoin surged to a two-week high on Monday after the attempted assassination of U.S. presidential candidate Donald Trump raised the odds of the former president, who has presented himself as a champion of cryptocurrency, winning the upcoming election.

https://www.reuters.com/technology/bitcoin-soars-two-week-high-after-trump-attack-2024-07-15/

when he was president the first time. the IRS started making all those rules about how you had to pay taxes even if you didn't convert it to fiat. so his history is that he hasn't done anything to help people using crypto, bitcoin in particular. he's just sat by and let the IRS make all these rules. rules that hurt people using bitcoin.

i think he had his chance once and he dropped the ball. i don't know why he deserves a second chance.

To be fair 64k isn't that "high" if you ask me, not bad neither but not that high and not that crazy. We need to make sure that we know what we are doing if we are talking about any highs or so. If you tell people that it is at 2 week high, they are going to think that it already got up and that's it.

But, we need to remember it is also very much lower than what we had a month or so ago as well, we were at all time high just this year, being like 73k or even 75k should not be impossible for us. It means that it is going to cause a lot of trouble for people who miss out and not buy it because they think it's already high. It is still time to buy and we should still consider buying some, it will benefit us and will not make it that terrible for anyone to hold some.

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Not sure that atttack itself caused that soar. We have several bullish statements for btc in the recent days

retreat

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Quote from: Wexnident on July 19, 2024, 06:40:29 AM

-snip-

And in general, Bitcoins doing fine. I don't even think the pump has anything to do with the assassination tbf, just a coincidence that the timeline matched.

I feel that this is not just a coincidence, in a way Trump's shooting had an impact on his electability and that has given him the upper hand for now. This affects the psychology of bitcoin investors and makes people increasingly confident that he will be able to become POTUS and make regulations that benefit Bitcoin investors. and that makes people buy more Bitcoin to prepare themselves if Trump is elected and the Bitcoin market experiences a pump.

Taskford

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Quote from: avikz on July 19, 2024, 12:57:38 AM

The attack on Trump has increased the chance of him being elected as a president once again! Also seeing a strong support on Bitcoin, Trump suddenly has started supporting it even though he was very negative about it during his first term. Not going deeper into politics, but people who are speculating about trump's president term will bring in some relief for the Bitcoiners in the country, that might not happen in reality! I will be personally very happy if we see a positive change towards Bitcoin in US, but still somewhat skeptical about it.

I am not sure whether he deserves a 2nd chance or not. But we are seeing a surge in right wing power all around the world. Trump is a known right wing supporter so I won't be surprised if he get elected for the 2nd term. The market might be soaring in speculation but cautious steps may needed.

People already see the worst from Biden administration and when they see that Trump support bitcoin then it creates some hype for his name and it gather the votes of people. Also after that shooting incident it leaves impression that his opponent are so desperate and try to eliminate him that's why Trump gather a lot of sympathy for people because many think that desperation will not bring anything good to their country.

So we can assume that Trump winning in this election is inevitable since his candidacy and support is so strong and it seems people are just waiting for election day and they would have a new President that open on good developments in their country. We just hope that he should follow what he say since it will bring a lot of things to bitcoin and maybe this could bring more demands.

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Quote from: larry_vw_1955 on July 18, 2024, 09:24:20 PM

~

To be fair, I'd also let the tax people do their thing than put my word for it when I don't know everything about it. Went badly yea I suppose, but all he wanted with Bitcoin was to win the politics. After he won he just left it to people who know what to do.

Now I particularly don't know if he deserves a second chance but, well, I'd say he's the lesser of the two evils between the two choices right now so I'd go with him (not that I can vote though lol).

And in general, Bitcoins doing fine. I don't even think the pump has anything to do with the assassination tbf, just a coincidence that the timeline matched.

Kakmakr

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I do not know if it is really about the assassination, but rather the fact that he is more pro Bitcoin than Biden. There has also been some news on the reserve Bank becoming more open-minded about Bitcoin and how BlackRock's Bitcoin ETF has seen phenomenal support in the financial sector.

Bitcoin has evolved from something used by a small amount of fanatical supporters, to something that has gone mainstream in the financial world. Most of the old school financial dinosaurs, will not accept change and they are outspoken about their negative views on Bitcoin, but the world are changing around them. Cheesy

Topic: Bitcoin soars to two-week high after Trump attack (Read 285 times)