β#worldnews #Bitcoin #Trump β
π Market is tough but fair: what do people buy after the shot is fired?β
Speculators use any stress to make a quick profit, and the moral side of the event does not matter. Let's recall the assets that went up in price after the attempted assassination of
Trump.
β
β’
Bitcoin remains the leader of the panic as traders increased bets on Donnie's election victory. BTC/USD has added almost 13% and is firmly in the zone above $64500. Both
Trump and his counterpart Wayne are seen as favorable to cryptocurrencies.
Trump's campaign eagerly accepts cryptocurrency payments, raising hopes of a shift away from the U.S. regulatory crackdown on the industry.
β
β’ Shares of Trump's Truth Social Media (NASDAQ: DJT) closed sharply higher by 31%. The company, which posted a Q1 operating loss of $98 million, rose in the week before the
Trump/Biden debate. The upside potential remains at least until the election.
β
β’ Interestingly, shares of prison operators rose: shares of Geo Group Inc (NYSE: GEO) added 10%, and CoreCivic Inc (NYSE: CXW) -8%. Shares of U.S. gun makers also rose, with Sturm Ruger & Co. up 12% and Smith & Wesson Brands up 14.3%. If
Trump wins, he is expected to tighten border controls, and these prison companies are expected to benefit. The dynamics of gun manufacturers' stocks are complex to tie to
Trump, but leaders in this industry are always volatile during election season.
β
The rising odds of a second Trump presidency have also sent ripples through the broader financial markets. U.S. Treasury bond yields have already risen. Many investors believe that
Trump's tax-cutting policies will lead to higher deficits and inflation, which will hit U.S. Treasuries and cause yields to rise, similar to the impact of his election victory in 2016.
β
Overall, the reaction to political events in the U.S. is just beginning to take shape, and the chance to capitalize on them remains. So look for fresh options for speculation, but do not forget about the risks.
β
Profits to yβall!