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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**Interview with Cryptocurrency Expert Jane Smith**
**Editor:** Thank you for joining us today, Jane. Let’s dive right into the market reactions following Donald Trump’s election victory. We’ve seen Bitcoin not only exceed $87,000 but also achieve an all-time high of $87,460. Why do you think this significant rally happened?
**Jane Smith:** Thanks for having me! The recent surge in Bitcoin’s price can largely be attributed to increased investor optimism regarding Trump’s promise to make the U.S. the “crypto capital of the planet.” His administration’s stance is expected to create a more favorable regulatory environment for cryptocurrencies, which has encouraged both investors and miners to jump back into the market.
**Editor:** That’s interesting. We’ve also observed notable gains in other cryptocurrencies like Ether and even Dogecoin. How are these coins relating to Bitcoin’s rise?
**Jane Smith:** Absolutely, Bitcoin’s momentum often sets the tone for the entire crypto market. When Bitcoin rises, it usually has a positive ripple effect on other cryptocurrencies. For instance, Ether recently surpassed $3,350, reflecting investors’ renewed confidence across the board. Dogecoin’s historic rise—despite its origins as a meme—also highlights how broader market enthusiasm can elevate even more speculative assets.
**Editor:** Analysts like Jeff Dorman have referred to this moment as a “renaissance” for the crypto sector. Can you elaborate on what that means in the current context?
**Jane Smith:** Dorman’s comment speaks to the broader perception shift around cryptocurrencies that could be occurring now. With higher prices and potential regulatory changes, there’s a renewed interest in the capabilities and applications of cryptocurrencies in the tech landscape. A favorable regulatory environment could not only invigorate existing players but also attract new investments and innovations, essentially reinvigorating the entire sector.
**Editor:** Speaking of regulatory changes, what implications do you foresee if Trump carries out his plans to replace the SEC chairman, who has been known to be a critic of the crypto space?
**Jane Smith:** If Trump follows through on his promise to appoint a more crypto-friendly SEC chair, it could lead to less stringent regulations, fostering a more welcoming environment for digital asset growth. This might encourage more institutional investment and greater innovation within the space, ultimately leading to a stronger market long-term.
**Editor:** Many investors are now questioning whether it’s time to buy or sell given the market highs. What’s your take on that?
**Jane Smith:** It’s a challenging decision. On one hand, the bullish sentiment could push Bitcoin to even greater heights, especially with the expected regulatory changes. On the other hand, market timing can be tricky and investing at such high levels carries its own risks. Investors should carefully consider their strategies and risk tolerance, perhaps looking at dollar-cost averaging if they choose to buy in at these levels rather than trying to time the market.
**Editor:** Great insights, Jane. Thank you for sharing your expertise on this evolving situation in the cryptocurrency landscape.
**Jane Smith:** My pleasure! It’s an exciting time for crypto, and I’m looking forward to seeing how this all unfolds.
