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Bitcoin rose to above $63k on Monday to reach a two-week high as cryptocurrencies mirrored gains amid condemnation of the attempted assassination of former US Donald Trump. Top altcoins Ethereum, Solana and BNB also gained as the broader crypto market cap rose 4% to $2.4 trillion.
Amid these movements, traders are eyeing a potential bull run ahead of the upcoming US election. Memeinator, a low cap meme coin that could explode amid a Trump win, is getting a lot of attention.
Bitcoin rises amid Trump assassination attempt
The price of Bitcoin has risen for the past three days, breaking higher since touching lows of $56,600 on July 12. Before this, BTC had bounced off $52,500 support as German government sell-off intensified.
However, on Saturday, the crypto market reacted sharply to news of Trump’s attempted assassination. The shooting incident has investors upbeat on chances of Trump winning in November, sentiment that has propelled BTC to its highest level in nearly two weeks.
Traders on Polymarket are currently giving Trump a 71% chance to win – against a new low of 18% for Joe Biden. It’s a reflection of Trump’s crypto-friendly stance and overall belief that the attempt on his life has only strengthened him.
Latest reports suggest that the former president will still attend and speak at the Bitcoin 2024 conference in Nashville, Tennessee this month.
Memeinator on traders’ radar
Memeinator is a meme coin focused on utility and long-term growth. The recently-launched project navigated its presale during the crypto downturn.
However, after successfully beating the bears, Memeinator looks primed as the next meme-play. Part of its real utility initiative is the Meme Warfare game, a P2E game being developed in collaboration with Red Apple.
The game will tap into an AI-powered Memescanner, offering gamers a chance to eliminate weak meme coins.
MMTR holders can also tap into staking and NFTs as the community targets a run to the $1 billion market cap.
Analsysts bullish on BTC, MMTR?
Donald Trump has increasingly become a crypto champion and the attempted assassination has only helped highlight the sector’s support. Crypto analyst Michael van de Poppe says Trump and the spot ETH ETFs could see crypto rise further.
Germany has finished selling their #Bitcoin.
Global uncertainty is rising after the assassination attempt on Trump.
That's an ideal climate for Bitcoin to go upwards consistently.
Ethereum ETF coming this week.
It's up only again. pic.twitter.com/pEOsGykYpv— Michaël van de Poppe (@CryptoMichNL) July 15, 2024
Therefore, BTC price may continue to surge going into the event in the last week of July.
Traders will also have Memeinator and Trump related tokens like MAGA on their radar. Notably, the MMTR has struggled in the past month, with recent gains nearly wiped out as the token hovers around $0.003402.
But as sentiment improves amid bullish predictions for cryptocurrencies, the Memeinator’s utility could be the catalyst for its rise to dominance among meme coins.
The post Bitcoin surge lifts Memeinator as crypto bets on Trump win appeared first on Invezz
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