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 can investors strategically approach buying or selling cryptocurrencies in this volatile market?
**Interview with Crypto Analyst, Sarah Thompson**
**Interviewer:** Welcome, Sarah! With Bitcoin reaching an all-time high of over $87,000 following Donald Trump’s election win, what do you think has driven this surge?
**Sarah Thompson:** Thank you for having me! The key driver here has been Trump’s vocal support for cryptocurrencies and his promise to turn the U.S. into the ”crypto capital of the planet.” His victory has boosted investor confidence, leading to this remarkable price surge. Many investors believe that his administration will foster a more favorable regulatory environment for digital assets.
**Interviewer:** That makes sense. We’ve also seen significant rises in other cryptocurrencies like Ether and Dogecoin. Is this trend likely to continue?
**Sarah Thompson:** Absolutely. With Bitcoin setting the pace, it’s common for altcoins like Ether and Dogecoin to experience spikes as well. Their recent growth shows that investor interest is broadening, and with potential changes in policy and regulation, this could very well be the beginning of a new phase for the entire cryptocurrency market.
**Interviewer:** Analysts have described this moment as a “renaissance” for the crypto sector. What do you think that means for the future?
**Sarah Thompson:** Yes, it’s an exciting time! The concept of a renaissance suggests renewed interest and innovation. As more institutions and individuals recognize the potential of cryptocurrencies, we might see a wave of new projects and developments that could reshape the financial landscape. The market is still in its infancy, and as we move forward, its influence on technology and finance will only grow.
**Interviewer:** With such historic highs, should investors be buying or selling right now?
**Sarah Thompson:** That’s the million-dollar question! While short-term volatility is to be expected, many analysts recommend holding or even buying during dips. With potential favorable regulatory changes and increased institutional adoption, there’s a strong argument for Bitcoin’s price continuing to climb. However, investors should assess their risk tolerance and have a clear strategy when entering or exiting trades.
**Interviewer:** Great insights, Sarah. Thank you for your time and expertise!
**Sarah Thompson:** Thanks for having me! It’s an exciting time for the cryptocurrency market, and I can’t wait to see what the future holds.
