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 impact do you believe Donald Trump’s administration will have on the future of cryptocurrency regulations?
**Interview with Jeff Dorman, Co-founder of Arca**
**Host:** Welcome, Jeff! Thanks for joining us today to discuss the recent surge in Bitcoin and the broader cryptocurrency market following the election of Donald Trump.
**Jeff Dorman:** Thank you for having me. It’s definitely an exciting time for the crypto sector.
**Host:** Absolutely! Bitcoin has now reached an all-time high of over $87,000. What do you believe has driven this significant increase?
**Jeff Dorman:** The election of Donald Trump has had a profound impact. His promises to transform the U.S. into the “crypto capital of the planet” have sparked renewed enthusiasm among investors and miners. This optimism is fueling what I’ve termed a “renaissance” for the crypto industry.
**Host:** Interesting. Can you elaborate on how Trump’s victory is shaping investor sentiment?
**Jeff Dorman:** Sure. Many investors see Trump’s administration as potentially more favorable towards cryptocurrencies, with fewer regulations and a more open environment for digital assets. This encourages both traditional investors and newcomers to enter the market, pushing prices up.
**Host:** We’ve seen Bitcoin’s rise, but other cryptocurrencies like Ether and Dogecoin have also gained momentum. What factors are contributing to this broader crypto rally?
**Jeff Dorman:** The excitement isn’t limited to just Bitcoin. With Bitcoin’s ascent, alternative cryptocurrencies are benefiting as well. Ether hitting a three-month high and Dogecoin seeing historic levels demonstrates a widespread market confidence. In many ways, Bitcoin acts as a bellwether for the entire market.
**Host:** Analysts have also suggested that this moment could reshape the global perspective on cryptocurrencies. How do you think this might affect technological innovation?
**Jeff Dorman:** Events like these really broaden the world’s view on what cryptocurrencies can achieve. They aren’t just digital currencies but platforms for innovation in various sectors, from finance to logistics. As more people understand this potential, we can expect creative solutions using blockchain technology to flourish.
**Host:** With this boom in mind, do you foresee any risks or challenges for the cryptocurrency market in the near future?
**Jeff Dorman:** Sure, every boom comes with risks. Regulatory scrutiny could increase as mainstream adoption rises. We also have to be wary of market volatility and bubbles. However, a less regulated environment under Trump’s policies could either stabilize prices or lead to significant fluctuations, depending on investor behavior.
**Host:** Great insights, Jeff! It’ll be interesting to see how the market evolves in the coming months. Thank you for sharing your expertise with us today.
**Jeff Dorman:** Thank you for having me! I’m looking forward to seeing how this all develops.
