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 does Jeff Dorman believe Trump’s election will influence the regulatory landscape for cryptocurrencies?
**Interview with Jeff Dorman, Co-founder of Arca: The Impact of Trump’s Election on Cryptocurrency**
**Interviewer**: Jeff, thank you for joining us today. We’ve seen Bitcoin soar past $87,000 following Donald Trump’s election as president. What do you think is driving this remarkable rally?
**Jeff Dorman**: Thanks for having me! The enthusiasm in the cryptocurrency market following Trump’s election can largely be attributed to expectations of a more favorable regulatory environment. Trump has promised to make the U.S. the “crypto capital of the planet,” which excites investors who can foresee a less restrictive approach to digital assets.
**Interviewer**: It’s not just Bitcoin; other cryptocurrencies like Ether and Dogecoin have also seen significant gains. What’s fueling this widespread rally?
**Jeff Dorman**: Absolutely, the rally we’re observing is indicative of a larger shift. When Bitcoin commands attention, it often lifts the entire market. The cryptocurrency sector is undergoing what I would call a “renaissance,” where more investors are becoming aware of the potential of these assets. Furthermore, as certain companies like Coinbase also benefit from this surge, it creates a positive feedback loop that attracts even more investments.
**Interviewer**: With Bitcoin reaching its all-time high, should investors be buying into cryptocurrencies right now, or is it wise to sell?
**Jeff Dorman**: That’s always a tricky question! While historic highs can be daunting, I believe there’s potential for further growth, especially if the regulatory environment continues to improve. There’s a general sentiment that Bitcoin and other cryptocurrencies are becoming more mainstream, which could sustain this rise. Nevertheless, investors should consider their own risk tolerance and market conditions before making any decisions.
**Interviewer**: You mentioned regulatory changes under Trump’s administration. How significant could these changes be for the market?
**Jeff Dorman**: Very significant. If Trump follows through with his plans to accumulate national reserves of Bitcoin and appoints more crypto-friendly leaders, we could see a profound impact on market stability and growth. This shift would not only attract institutional investors but could also promote innovation within the sector.
**Interviewer**: what advice would you give to potential cryptocurrency investors amidst this volatility?
**Jeff Dorman**: Diversification is crucial. Investors should not put all their capital into a single asset and should consider a balanced approach across various cryptocurrencies. Additionally, staying informed about market trends and regulatory developments will help them make educated decisions. It’s an exciting time for the crypto space, but prudence is always a smart strategy.
**Interviewer**: Thank you, Jeff, for your insights and analysis on this thrilling time for cryptocurrency!
**Jeff Dorman**: My pleasure! Always happy to discuss the future of crypto!
