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 could Trump’s proposed policies on cryptocurrency influence institutional investments in the U.S.?
**Interview with Jeff Dorman, Co-founder of Arca**
**Editor:** Welcome, Jeff, and thank you for joining us today to discuss the recent surge in cryptocurrency prices following Donald Trump’s election victory.
**Jeff Dorman:** Thank you for having me. It’s an exciting time for the crypto industry!
**Editor:** Bitcoin has surged to an all-time high of over $87,000. What do you attribute this dramatic increase to?
**Jeff Dorman:** The primary driver behind this rally is the optimism surrounding Trump’s election and his promises to make the U.S. the “crypto capital of the planet.” This is a huge statement that has galvanized both investors and miners, creating a favorable environment for cryptocurrency growth.
**Editor:** There’s talk about a “renaissance” for the crypto sector. Can you elaborate on what this means?
**Jeff Dorman:** Certainly! A renaissance implies a renewed interest and acceptance of cryptocurrencies in the financial world. The election results have broadened perceptions about the potential impact of cryptocurrencies on technology and finance. With more accommodating policies, the crypto market could see significant advancements and innovations.
**Editor:** With Bitcoin and other cryptocurrencies hitting record highs, many investors are wondering about their next steps. Should they buy or sell right now?
**Jeff Dorman:** It’s a complex decision. Given the current momentum and a potentially more favorable regulatory environment, many analysts believe that the price of Bitcoin could continue to rise. However, it’s crucial for investors to assess their own risk tolerance and investment objectives before making any decisions.
**Editor:** Trump’s administration plans to accumulate national reserves of Bitcoin and reassess SEC regulation. How do you think this will shape the future of cryptocurrency in the U.S.?
**Jeff Dorman:** If these policies are enacted, it would signal a significant shift towards legitimizing and integrating cryptocurrencies into the mainstream financial system. This could lead to more institutional investments and a stronger infrastructure for crypto trading and usage.
**Editor:** Any final thoughts for our audience watching the markets right now?
**Jeff Dorman:** Stay informed and do your due diligence. The crypto market is volatile and can change rapidly, so whether you decide to buy, sell, or hold, make sure your choices are grounded in comprehensive research and understanding of the broader market dynamics.
**Editor:** Thank you, Jeff. We appreciate your insights and look forward to seeing how the cryptocurrency landscape evolves in the coming months.
**Jeff Dorman:** Thank you! It will definitely be interesting to watch!