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 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.
#Bitcoin #cryptocurrencies #skyrocket #buy
How might a new SEC chair influence the cryptocurrency regulatory landscape and investor confidence?
**Interview with Jeff Dorman, Co-founder of Arca Asset Manager**
**Editor:** Thank you for joining us, Jeff. Bitcoin has surged to an unprecedented $87,460 following Donald Trump’s election. What do you think has driven this remarkable rise?
**Jeff Dorman:** Thanks for having me. The election of Donald Trump has sparked a significant rally in the cryptocurrency market, largely due to his promise to turn the U.S. into the “crypto capital of the planet.” This kind of sentiment from a major political figure creates a wave of optimism among investors and miners alike, propelling prices upward.
**Editor:** That’s an interesting perspective. You referred to this moment as a “renaissance” for the crypto industry. Can you elaborate on what that means?
**Jeff Dorman:** Absolutely. This period is reshaping how people view cryptocurrencies and their potential impact on the financial landscape. With a more favorable regulatory environment anticipated under Trump’s administration, we could see a robust expansion of the crypto market, attracting more investors and fostering innovation in technology.
**Editor:** Given the soaring prices, many investors are likely contemplating their strategies. Do you think it’s a good time to buy, sell, or hold?
**Jeff Dorman:** It really depends on individual risk tolerance and investment goals. The market is hot right now, and we could see further increases if the policies support ongoing growth. However, volatility is inherent in crypto, so it’s crucial for investors to analyze their own financial situations before making decisions.
**Editor:** What implications do you foresee for other cryptocurrencies in light of Bitcoin’s rise?
**Jeff Dorman:** We’re already seeing positive momentum for other cryptocurrencies like Ether and even Dogecoin, which reflects a broader market enthusiasm. As Bitcoin leads the charge, it often drags along the altcoins, creating a more vibrant ecosystem overall. If this bullish sentiment continues, it could pave the way for sustained growth across the board.
**Editor:** with Trump potentially planning to replace SEC chair Gary Gensler, how might that affect the regulatory environment for crypto assets?
**Jeff Dorman:** A new SEC chair could mean a shift towards a more favorable regulatory approach, which is what the market has been eagerly anticipating. This change could alleviate concerns around restrictions that have been placed on cryptocurrencies, opening up possibilities for greater institutional investment and further validation of digital assets as a legitimate asset class.
**Editor:** Thanks for sharing your insights, Jeff. It will be fascinating to see how this all unfolds in the coming months.
**Jeff Dorman:** My pleasure! It’s an exciting time for the crypto space, and I look forward to seeing how it evolves.