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 role do regulatory changes play in the current cryptocurrency market surge?**
**Interview with Jeff Dorman, Co-founder of Arca, on the Cryptocurrency Market Boom Following Trump’s Victory**
**Interviewer:** Thank you for joining us today, Jeff. The cryptocurrency market has seen a remarkable upward trend since Donald Trump was elected president, with Bitcoin reaching an all-time high of $87,460. What are the key factors driving this surge?
**Jeff Dorman:** Thanks for having me. The primary driver of this surge has been the strong investor sentiment surrounding Trump’s promise to establish the U.S. as the “crypto capital of the planet.” His administration is seen as potentially more favorable to cryptocurrency development, which is igniting optimism among investors and miners alike.
**Interviewer:** There’s been a notable reaction not only in Bitcoin but also in other cryptocurrencies like Ethereum and Dogecoin. Can you explain how this momentum has affected these digital assets?
**Jeff Dorman:** Absolutely. Bitcoin’s rise has had a spillover effect on the entire cryptocurrency market. For instance, Ethereum has seen a significant uptick, exceeding $3,350, while Dogecoin has also reached historic levels. Essentially, rising confidence in Bitcoin often boosts the broader market, leading to price increases across various cryptocurrencies.
**Interviewer:** Many analysts describe this moment as a “renaissance” for the crypto sector. Can you elaborate on that perspective?
**Jeff Dorman:** Yes, this is indeed a renaissance. It’s a critical time for the cryptocurrency industry as it underscores the potential transformative role digital currencies might play in our economy. Trump’s approach to regulatory frameworks, including intentions to accumulate national reserves of Bitcoin, could represent a shift towards a more open market. This change may catalyze broader adoption of cryptocurrencies.
**Interviewer:** With the market at these historic levels, what are your thoughts on whether it’s time to buy or sell Bitcoin?
**Jeff Dorman:** It’s a complicated question. The prevailing sentiment, supported by anticipated regulatory changes, suggests that Bitcoin could continue to rise. Many are optimistic about replacing Gary Gensler as the head of the SEC, given his critical stance on cryptocurrencies. However, investors must always consider their own risk tolerance and market conditions before making decisions.
**Interviewer:** Thank you for your insights, Jeff. It will be interesting to see how these developments unfold in the coming weeks.
**Jeff Dorman:** My pleasure! It’ll definitely be a fascinating period for the cryptocurrency market.