Bitcoin’s Asian Market Sees Sharp Decline Amid Trump Assassination Attempt

On Monday, September 16, Bitcoin’s Asian market opened sharply, almost falling below $58,500. The decline comes as former U.S. President and Republican presidential candidate Donald Trump was involved in a suspected assassination attempt near his golf course in Florida on Sunday.

Trump Safe After Assassination Attempt

The FBI has responded to the incident and is investigating the suspected assassination attempt against former President Trump. According to four senior law enforcement officials, Secret Service agents shot a man they believed to be armed outside the fence of Trump’s golf course in West Palm Beach, Florida, where Trump was playing golf. One person was detained, and an AR-style rifle was recovered.

After hearing the gunfire, Trump was quickly taken to a secure area as a precaution. The suspect was being held on Interstate 95, a road near Trump’s golf club that was temporarily closed after the shooting. Authorities still aren’t sure who the gunman was targeting and whether he fired any shots.

Trump Confirms He is “Safe and Healthy”

Trump issued a statement confirming that he was “safe and healthy” and declaring that “nothing can stop me.” The White House was quick to express relief that Trump was not attacked, with President Biden and Vice President Kamala Harris being informed of the incident.

Bitcoin Price Predictions

Standard Chartered Bank has predicted that Bitcoin will hit an all-time high by the end of 2024, regardless of who wins the presidential election. However, if Trump wins, Bitcoin prices are expected to soar even higher, potentially reaching $125,000 by the end of the year.

Bitcoin Technical Analysis

CoinTelegraph noted that Bitcoin closed last week above the 50-day simple moving average of $59,693, indicating that the market has refused to fall below $55,724. The 20-day exponential moving average at $58,461 has started to rise, and the relative strength index (RSI) is in positive territory, indicating that bulls have the upper hand.

If the price finds support at the moving averages, Bitcoin could rebound to $65,000 and then to $70,000. However, if the price declines significantly and falls below the 20-day moving average, Bitcoin could drop to $55,724, and potentially to $52,500.

Federal Reserve Open Market Committee (FOMC) Meeting

The FOMC is expected to meet on Wednesday to cut interest rates for the first time since 2020. Observers remain divided over the magnitude of the cut, with a quarter-point cut and a larger 50-basis-point cut almost equally likely. While monetary policy may be looser, which would be positive for risk assets, concerns about an impending recession continue to weigh on markets.