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.
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What are the implications of a more crypto-friendly regulatory environment for new investors looking to enter the market?
**Interview with Jeff Dorman, Co-Founder of Arca Asset Management**
**Interviewer:** Thank you for joining us today, Jeff. It’s an exciting time for the cryptocurrency market, especially after Donald Trump’s recent victory and the subsequent surge in Bitcoin prices. Can you explain what led to Bitcoin reaching its all-time high of $87,460?
**Jeff Dorman:** Thank you for having me. The spike in Bitcoin’s price can largely be attributed to investor optimism following Trump’s promise to make the U.S. the “crypto capital of the planet.” This has sent a wave of enthusiasm through the market, especially as he has advocated for a more favorable regulatory environment for cryptocurrencies, which many in the industry view as crucial for growth.
**Interviewer:** You mentioned the promise of a more favorable regulatory environment. How do you think Trump’s policies will affect the broader crypto market?
**Jeff Dorman:** Trump’s administration is likely to adopt a less regulated approach, which can be very appealing to investors. For instance, the suggested accumulation of national reserves of Bitcoin could lead to greater acceptance and legitimacy of cryptocurrencies, promoting broader adoption. This shift could fuel what many are calling a “renaissance” for the industry.
**Interviewer:** There’s been a significant rise in not just Bitcoin, but also other cryptocurrencies like Ether and Dogecoin. What do you think is driving this trend?
**Jeff Dorman:** Absolutely, the rise isn’t limited to Bitcoin alone. Ether and Dogecoin have also seen impressive gains, largely because investors are recognizing the potential of these assets in a more crypto-friendly landscape. Investors are not only looking at Bitcoin as a store of value but are also exploring alternatives that may offer growth opportunities.
**Interviewer:** With the market at historic highs, many are left wondering about the timing of their investments. What would you advise potential investors regarding buying or selling at this juncture?
**Jeff Dorman:** It’s a challenging decision. While many analysts believe that the price of Bitcoin could continue to rise due to supportive policies, it’s essential for investors to assess their own risk tolerance and investment goals. It’s a classic case of balancing risk and reward. A strategic approach, whether that means buying more or taking profits, should be tailored to individual circumstances.
**Interviewer:** Lastly, how do you foresee the impact of personnel changes, such as a potential shift in leadership at the SEC, on the market moving forward?
**Jeff Dorman:** A change in leadership at the SEC could significantly impact the regulatory landscape. If a more crypto-friendly head replaces Gary Gensler, this could reduce some barriers currently faced by the industry, instilling further confidence among investors. This kind of regulatory clarity can attract more institutional investment and lead to sustained market growth.
**Interviewer:** Thank you, Jeff. Your insights are invaluable as we navigate this exciting, albeit complex, landscape in the cryptocurrency market.
**Jeff Dorman:** My pleasure! It’s a fascinating time for crypto, and I’m looking forward to seeing how it evolves.
