Bitcoin, the world’s leading cryptocurrency, rose 4% in early trading on Sunday after an assassination attempt on Republican presidential candidate Donald Trump was announced.
This morning, the former US President was shot while giving a speech at an election rally in Pennsylvania.
By 04:00 UTC, Bitcoin prices were up 4.01%, or $2,390, at $60,621, compared to yesterday’s close, but lost some momentum after that.
Cryptocurrency markets operate daily, unlike global financial markets that are only open for 5 days, as they were on a weekly holiday when the assassination attempt occurred, which justifies Bitcoin’s rise due to the absence of gold markets, which is considered a safe haven in the event of tensions.
“I’m fine and I’m getting tested,” Trump said after the shooting, as gunshots were heard during Trump’s speech and blood was seen on his ear.
Asian currency markets expected to be affected
The currency market is expected to be the first major market in Asia to be affected tomorrow by the Trump shooting incident.
Bloomberg News reported today that there is a possibility of more volatility, and it may be particularly difficult to get a clear reading because a national holiday in Japan will hinder liquidity.
The dollar is likely to open positively, in a repeat of the dynamics that unfolded after last month’s debate and boosted Trump’s chances of winning.
The yen traded stronger late last week after a clear intervention to support it, so the dollar’s moves against it may be limited, especially since cash Treasuries will remain closed until London business hours tomorrow, which will weaken yield movements.
The yuan is expected to get a lot of attention because of Trump’s trade stance, as he highlighted last month.
