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Zhitong Finance APP learned that Bitcoin hit a two-week high on Monday as betting markets showed that Donald Trump, a candidate seen as cryptocurrency-friendly, had an increased chance of winning the U.S. presidential election. As of press time, the price of Bitcoin, the world's largest cryptocurrency, rose 7.86% to $64,644.00.

This follows Trump's assassination attempt on Saturday.

Ben Emons, chief investment officer at FedWatch Advisors, said there were "'parallels'" to the shooting of President Reagan in 1981, even though that was not an election year.

“After the incident, Reagan’s popularity soared amid the economic double-dip. However, the S&P 500 subsequently fell 9% due to the economic downturn. But in the current strong economic situation, former President Trump’s approval rating may soar and have a positive impact on the market.”

Investors said over the weekend that they expect so-called Trump victory trades to get a boost. These trades extend to various crypto stocks such as Coinbase (COIN.US) and miner Riot Platforms (RIOT.US). As of Monday's close, Coinbase rose more than 11% and Riot Platforms rose more than 17%.

"Bitcoin prices have risen about 9% over the weekend, which could be a sign that investors expect a Trump presidency to create a more favorable regulatory environment for the crypto industry," said Zach Pandl, head of research at Grayscale Investments.

Trump has yet to put forward any detailed proposals for cryptocurrency regulation, but the Republican candidate is now seen as broadly supportive of the industry — despite his past skepticism. He is due to speak at a major annual bitcoin conference later this month.

In May, Trump's campaign began accepting donations from the crypto industry, and his views on the future of such digital assets have become increasingly positive. He has also tried to position himself as a counter to Democrats such as Senator Elizabeth Warren who support controlling the financial industry.

“In addition, macro policy changes during a second Trump presidency — including continued deficit spending, reduced U.S. leadership in international affairs, less Fed independence, and a desire for currency depreciation to help narrow the trade deficit — could create downside risks for the dollar in the medium term. Any downside risk to the dollar could support Bitcoin’s price,” Pandl added.

Last month, Standard Chartered analysts said the U.S. presidential election is the next key catalyst for Bitcoin prices, and Trump's victory could push Bitcoin prices to $150,000 by the end of the year.

Grzegorz Drozdz, market analyst at Conotoxia, said: “Cryptocurrencies have not had an easy time in recent months. We are currently in a downturn, following a surge in capital inflows into this market, as can be measured by the capitalization of stablecoins, which has frozen over the past two months.”

With the increased likelihood of a Trump presidency and the consequent decrease in the likelihood of riots and unrest in the United States, Drozdz now sees the potential for a “surge in market confidence,” which could have a positive impact on cryptocurrencies and Bitcoin in the coming weeks.