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 should investors navigate the current volatility in the crypto market following the recent price surge?
**Interview with Jeff Dorman, Co-Founder of Arca**
**Editor:** Welcome, Jeff! Thank you for joining us today to discuss the recent surge in Bitcoin prices following Donald Trump’s election victory.
**Jeff Dorman:** Thank you for having me.
**Editor:** Bitcoin recently topped $89,000, reaching heights we’ve never seen before. What do you attribute this sudden rally to?
**Jeff Dorman:** There are several factors at play here. First and foremost is the optimism surrounding Trump’s promises to position the U.S. as the “crypto capital of the planet.” This has injected a great deal of enthusiasm into the market, encouraging both investors and miners.
**Editor:** Trump’s election has seemingly transformed the investing landscape for cryptos. Can you elaborate on how his policies might influence market dynamics?
**Jeff Dorman:** Absolutely. Trump’s administration is expected to adopt a more open and potentially less regulated approach towards cryptocurrencies. Plans to accumulate national reserves of Bitcoin signal a shift in how the government views these assets. This could foster a more encouraging environment for innovation within the crypto sector.
**Editor:** With Bitcoin now at historic levels, what should investors be considering? Is this a time to buy or sell?
**Jeff Dorman:** That’s the million-dollar question. While it’s tempting to take profits after a significant surge, the underlying fundamentals suggest stronger upward momentum could continue. With anticipated policy shifts and a more favorable regulatory environment, investing in cryptocurrencies right now could be more advantageous for long-term holders.
**Editor:** We’ve seen accompanying gains in other cryptocurrencies like Ether and Dogecoin. What does this broad rally signify for the broader crypto market?
**Jeff Dorman:** It’s a clear indicator of a “renaissance” for the sector, as I have mentioned before. This enthusiasm is contagious and attracts both seasoned and new investors, leading to a more diverse market. The rise of altcoins alongside Bitcoin highlights that investors are becoming more optimistic about the entire ecosystem, not just individual assets.
**Editor:** Thank you, Jeff. It’s certainly an exciting time for the world of cryptocurrencies.
**Jeff Dorman:** Thank you! I’m looking forward to seeing how this unfolds.
