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 vision about 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 is Donald Trump’s election influencing the current trends in the cryptocurrency market, particularly with Bitcoin?
**Interview with Cryptocurrency Expert Jamie Rivers on Bitcoin’s Surge After Trump’s Victory**
**Editor:** Welcome, Jamie! Thank you for joining us today. We’ve seen Bitcoin surge to an all-time high of over $87,000 following Donald Trump’s election. What are your thoughts on this dramatic increase?
**Jamie Rivers:** Thanks for having me! It’s certainly an exciting time for the cryptocurrency market. Trump’s victory has injected a lot of optimism into the industry. His promise to make the US the “crypto capital” and a more favorable regulatory environment has driven investors to embrace digital currencies more enthusiastically.
**Editor:** You mentioned regulatory changes. How do you think Trump’s potential policies will impact the cryptocurrency landscape?
**Jamie Rivers:** Well, we can expect a shift towards less regulation compared to the previous administration. By potentially replacing key figures in agencies like the SEC, we could see a more supportive stance towards cryptocurrencies. This could lead to increased adoption among mainstream investors and companies, as the environment becomes less daunting.
**Editor:** We’re also hearing terms like “renaissance” being used to describe this moment for the crypto sector. Can you explain what that means?
**Jamie Rivers:** Absolutely! When analysts refer to this time as a “renaissance,” they’re highlighting a recovery and potential for growth in the cryptocurrency market. After a period of uncertainty and regulatory concerns, we’re now witnessing a rekindling of interest and investment. This could spark innovation and broader acceptance of cryptocurrencies in the economy.
**Editor:** With Bitcoin hitting historic levels, should investors be buying or selling right now?
**Jamie Rivers:** That depends on individual circumstances. For those who believe in the long-term potential of Bitcoin and the cryptocurrency market, this might be an opportunity to capitalize on future gains. However, for more risk-averse investors, it’s prudent to assess their portfolios and consider taking profits to mitigate risks. The volatility remains, and while the trajectory looks promising, caution is always advisable.
**Editor:** Lastly, what do you foresee for other cryptocurrencies like Ethereum and Dogecoin in light of this Bitcoin surge?
**Jamie Rivers:** The rise of Bitcoin often leads to increased interest in other cryptocurrencies. For example, Ethereum is already gaining momentum, and as the market expands, we can expect altcoins like Dogecoin to continue their upward trajectory as well. Investors often diversify into alternative assets during bullish periods, which could benefit the entire sector.
**Editor:** Thank you for your insights, Jamie! It’s going to be fascinating to see how this all unfolds in the coming months.
**Jamie Rivers:** My pleasure! I’m looking forward to it as well.