Bitcoin dragged the dance past $60,000, followed by Ethereum with a 1.5% rise.
New data is also being formed at the International Economic Level.
With much of the market speculating that the assassination attempt will further boost Trump’s candidacy, the first effects are already visible in the cryptocurrency market, with Bitcoin posting a big rally.
As soon as it became known that Donald Trump is in good health, the first market to react was the one that never sleeps, that of cryptocurrencies.
Bitcoin dragged the dance past $60,000, followed by Ethereum with a 1.5% increase.
It is no coincidence that Donald Trump is a proponent of cryptocurrencies.
Much of the market believes that the assassination attempt is what will ensure Trump’s return to the White House.
He cites the 8 points won by Ronald Reagan in 1981 and the knife attack on Jair Bolsonaro in 2018 that helped turn an electoral derby into a triumph for the far-right politician.
For Trump, things actually look easier because the markets had largely begun to discount his victory before the attack in Pennsylvania.
“Trump’s odds are skyrocketing and right now the market will start betting on Trump stocks and ditching some of Biden’s,” says Strategas Head of Policy Research, Dan Clinton.
But which Trump stocks and in particular which sectors are expected to increase their returns in the coming days?
“Financials are one of the clear winners, along with conventional energy and of course cryptocurrencies,” reports Tobin Marcus of Wolfe Research.
Businesses are also big winners as Trump is seen as an advocate of the operation of the market with minimal restrictions.
The Dow Jones industrial average has already hit an all-time high, while the index of the 500 largest US companies has risen 18%.
“Joe Biden is launching major new economic measures that will more than double President Obama’s record. All this stops the moment Trump’s predecessor steps into the White Housesays Hoover Institution President Kevin Hassett.
Of course, the above does not mean that everything will be rosy.
Trump has made it clear that he will impose a barrage of tariffs, which will drive up product prices.
“Trump’s plan, if we take what he says at face value, is to impose 10% tariffs on all imported products even from friends and allies like Europe, Japan, South Korea and 60% on Chinese products“, says NY School of Business professor Nouriel Roubini
At the same time, his plan for massive tax breaks is expected to blow up the already derailed budget deficit.
In such an eventuality it must be considered certain that the increase in the cost of US debt has increased in the last 5 months by 7.7%
Source: Skai
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.