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 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.
#Bitcoin #cryptocurrencies #skyrocket #buy
– What factors contributed to the recent rise in Bitcoin prices following Trump’s election?
**Interview with Crypto Expert Dr. Sarah Thompson on the Recent Bitcoin Surge Following Trump’s Election**
**Interviewer:** Good afternoon, Dr. Thompson, and thank you for joining us today to discuss the significant rise in Bitcoin prices following Donald Trump’s election as president. Bitcoin recently soared to an all-time high of $87,460. What do you think is driving this sudden surge in the cryptocurrency market?
**Dr. Thompson:** Thank you for having me. The surge in Bitcoin’s price is primarily driven by the optimism surrounding Trump’s commitment to making the U.S. a leader in the crypto space. His promise to pivot towards a more favorable regulatory environment has sparked investor enthusiasm, leading to increased demand as people anticipate a more supportive landscape for digital currencies.
**Interviewer:** That makes sense. How has the market reacted beyond Bitcoin? We’ve seen other cryptocurrencies, such as Ether and Dogecoin, also reaching historic highs. What does this collective boom indicate?
**Dr. Thompson:** Absolutely, we’re witnessing a broader renaissance in the cryptocurrency sector. When major cryptocurrencies like Bitcoin experience substantial gains, it often creates a ripple effect throughout the market. Investors tend to look for opportunities in other digital assets, driving up their prices as well. This collective movement reflects a growing acceptance and interest in the potential of cryptocurrencies and blockchain technology.
**Interviewer:** Some analysts, like Jeff Dorman, have highlighted this moment as a turning point for the industry. Can you elaborate on what that means for the future of cryptocurrencies?
**Dr. Thompson:** Yes, this is indeed a pivotal moment. Dorman’s perspective emphasizes that events like Trump’s election can shift perceptions about cryptocurrencies’ viability and impact. With a more crypto-friendly administration, we could see innovative developments, wider adoption, and perhaps even changes in regulations that could benefit the industry. A national reserve of Bitcoin, as suggested, would also signify a profound shift in how countries view digital currencies.
**Interviewer:** With the market reaching historic highs, many investors are left wondering whether they should buy, sell, or hold onto their assets. What insights can you share on this dilemma?
**Dr. Thompson:** It’s a complex decision. Generally, with Bitcoin and other cryptocurrencies experiencing rising prices due to favorable policy shifts, many believe it’s a good time to invest. However, it’s also wise for investors to consider their risk tolerance and investment horizon. As always, potential fluctuations can be significant within the crypto market, so a measured approach, ideally with professional financial advice, is advisable.
**Interviewer:** Thank you, Dr. Thompson. Your insights into the current state of the cryptocurrency market are invaluable, especially as we navigate these exciting times.
**Dr. Thompson:** Thank you for having me! It’s definitely an exciting time for the crypto community.