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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What impact do you think Donald Trump’s election victory will have on the long-term regulatory landscape for cryptocurrencies?
**Interview with Jeff Dorman, Co-founder of Arca**
**Interviewer:** Thank you for joining us today, Jeff. Bitcoin has hit a record high of over $87,000 following Donald Trump’s election victory. What do you think is driving this latest surge in the cryptocurrency market?
**Jeff Dorman:** Thank you for having me. The primary driver of this surge is the renewed optimism in the crypto space following Trump’s victory. His promise to position the U.S. as the “crypto capital of the planet” has invigorated investors and miners alike. There’s a strong sentiment that a more favorable regulatory environment is on the horizon, which contributes to this upward momentum.
**Interviewer:** We’ve seen substantial increases in the prices of not just Bitcoin, but also Ethereum and even Dogecoin. What does this mean for the overall market?
**Jeff Dorman:** Absolutely. This moment can be described as a “renaissance” for the crypto industry. When major events occur, they capture public attention and broaden the perception of what cryptocurrencies can accomplish. We’re seeing rallies across multiple assets because investors are betting on a future where digital currencies play a more significant role in the financial system.
**Interviewer:** With these historic price levels, many investors are left wondering—should they be buying or selling at this point?
**Jeff Dorman:** It’s a crucial question, and while I can’t provide personalized financial advice, I can say that the sentiment is leaning towards buying. The potential for continued growth exists, especially if regulatory conditions improve and if the SEC’s approach shifts under a new leadership. However, it’s important for individuals to assess their risk tolerance and investment strategies carefully before making any moves.
**Interviewer:** What concerns do you have about the volatility typically associated with cryptocurrencies?
**Jeff Dorman:** Volatility is indeed a hallmark of the crypto market. As we move forward, we should expect fluctuations. As the market matures, we might experience less extreme volatility, but it’s always wise for investors to stay informed and prepared for sudden shifts. Cryptocurrencies are still relatively young, and while the future is promising, it’s essential to approach investing with caution.
**Interviewer:** Thank you, Jeff, for your insights into the current state of the cryptocurrency market during this exciting time.
**Jeff Dorman:** Thank you for having me. It’s always a pleasure to discuss the evolving landscape of cryptocurrencies.
