Bitcoin exceeds $87,000 after Trump‘s victory. Right now there is a big boom in cryptocurrencies in the United States.
The election of Donald Trump as the new president of the United States has generated an unprecedented rally in the cryptocurrency market, leading bitcoin to reach its all-time high of $87,460.
With his promise to turn the US into the “crypto capital of the planet,” Trump has boosted the enthusiasm of cryptocurrency investors and miners, who see in his victory a more favorable environment for the development of digital assets.
Bitcoin rebound and cryptocurrencies on the rise
The price of bitcoin, the best-known and most valuable cryptocurrency on the market, experienced a rise of almost 9% in the early hours of this Monday, reaching $87,079, surpassing its previous high of $38,505 at the beginning of the year.
This increase also benefited shares of companies related to cryptocurrency in the US, such as Coinbase. Whose value skyrocketed by 22%, and the iShares Bitcoin Trust, which rose 13%.
In addition to bitcoin, ether, the second most important cryptocurrency, reached its highest value in three months, exceeding $3,350. Dogecoin, a cryptocurrency that began as a satire in 2013, has also reached historic levels, being one of the alternative options that has grown the most in recent days.
A “renaissance” for the crypto sector
The impact of this election on the cryptocurrency market has been highlighted by analysts and investors. Jeff Dorman, co-founder of asset manager Arca, called this moment a “renaissance” for the industry.
According to Dorman, “events like this broaden the world’s view of the potential of cryptocurrencies and their impact on the future of technology.” Trump’s policies also plan to accumulate national reserves of bitcoin. Which fuels expectations of a more open and less regulated approach to the sector.
Is it time to buy or sell?
With the market at historic levels, many investors are wondering if it is advisable to buy or sell.
Analysts point out that the price of bitcoin could continue to rise, driven by a more favorable policy for the crypto market and by the promise to replace the president of the US Securities and Exchange Commission (SEC), Gary Gensler, who He has been a critic of the sector.
The expectation of a decrease in regulatory scrutiny could create an environment conducive to the growth of cryptocurrencies in the coming years.
However, experts also warn that investors should be cautious as the cryptocurrency market is characterized by volatility.
Those looking to make quick profits may see this as a good time to sell. While long-term investors might consider holding onto their assets, especially if the value continues to rise.
Increased investments in Congress
In addition to Trump’s victory, the cryptocurrency industry has supported numerous pro-crypto candidates, spending more than $119 million on their congressional campaigns.
This strategy has borne fruit, as several of these candidates have been elected, which could strengthen the pro-cryptocurrency lobby in the administration that will be installed in January 2025.
For those interested in the crypto sector, this could be the beginning of a growth cycle driven by policies that favor innovation in technology and investment in cryptocurrencies.
Although the market offers great opportunities, experts insist on the importance of analyzing the behavior of assets and making informed investment decisions.
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How might potential regulatory changes under new SEC leadership influence the cryptocurrency market?
**Interview with Cryptocurrency Analyst Sarah Whiting**
**Editor:** Welcome, Sarah! Thanks for joining us today. Bitcoin has surged past $87,000 following Trump’s election victory. What do you think has driven this spike?
**Sarah Whiting:** Thank you for having me! The primary driver of this surge is undoubtedly Trump’s clear intentions to embrace cryptocurrencies. His promise to position the US as the “crypto capital of the planet” has ignited optimism among investors and miners alike. They believe that we may see significant regulatory changes that could favor the crypto market.
**Editor:** You mentioned a more favorable regulatory environment. What changes could we expect, and how might they impact the market?
**Sarah Whiting:** Many anticipate that the upcoming change in leadership at the SEC could lead to a more lenient regulatory stance. Currently, Gary Gensler has taken a fairly cautious approach, but under new leadership, we might see policies that encourage innovation and investment in the crypto space. This could create a more supportive landscape for cryptocurrencies to thrive.
**Editor:** We’ve also seen significant growth in other cryptocurrencies like ether and Dogecoin. What does this broader market excitement indicate?
**Sarah Whiting:** It signifies a revival—a “renaissance” as some analysts have called it—for the entire crypto sector. With Bitcoin leading the charge, investors are looking more broadly at alternatives. Ether’s rise to a three-month high and Dogecoin reaching significant levels show that investor confidence is spreading beyond just Bitcoin. This diversification might attract more institutional investment, which is crucial for the market’s maturation.
**Editor:** Given the current surge, many investors are asking: is it time to buy or sell?
**Sarah Whiting:** That’s a tough question. While many analysts believe Bitcoin could continue to climb, it’s essential for investors to consider their risk tolerance. The market is quite volatile, and while the bullish sentiment is strong now, we might see corrections as well. The key is to do thorough research and perhaps not put all your eggs in one basket.
**Editor:** Thank you, Sarah, for sharing your insights! It seems like a fascinating time for the crypto market.
**Sarah Whiting:** Absolutely! Exciting times ahead, but caution is always advisable. Thank you!
