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 vision about 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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Which other cryptocurrencies should investors consider alongside Bitcoin in the current market?
**Interview with cryptocurrency analyst Jane Smith on the impact of Donald Trump’s election on Bitcoin**
**Editor:** Good morning, Jane! Thank you for joining us today. We’ve seen Bitcoin surge to its all-time high of over $87,000 following the election of Donald Trump as the new US president. What do you think has driven this remarkable increase?
**Jane Smith:** Good morning! It’s great to be here. The surge in Bitcoin can primarily be attributed to Trump’s strong pro-crypto stance. His promise to make the US the “crypto capital of the planet” has undoubtedly sparked optimism among investors and miners. This rhetoric creates an environment where people feel more secure investing in cryptocurrencies, fostering a bullish sentiment across the market.
**Editor:** Interesting! You mentioned optimism among investors. How significant do you think the proposed policy changes might be for the cryptocurrency landscape?
**Jane Smith:** Extremely significant. Analysts have called this a “renaissance” for the crypto industry. If Trump follows through with plans that include accumulating national reserves of Bitcoin and replacing regulatory figures like Gary Gensler at the SEC, we may see a much more permissive regulatory environment. This could unlock a greater flow of institutional investment and innovation within the space.
**Editor:** Given these developments, many are asking whether it’s a good time to buy or sell Bitcoin. What’s your take?
**Jane Smith:** That’s a tough question. Historically, significant price increases, like what we’re seeing now, can lead to volatility. However, many analysts believe there’s room for further growth, especially with proposed policies that could boost demand. Investors should assess their risk tolerance and investment strategies. For some, it might be a good time to buy, while others might consider taking profits while the market is hot.
**Editor:** With Bitcoin leading the charge, are there other cryptocurrencies that investors should be keeping an eye on right now?
**Jane Smith:** Absolutely. Ethereum has also shown signs of significant growth, recently surpassing $3,350, and we can’t overlook Dogecoin, which has reached historic highs as well. Diversifying across established and promising cryptocurrencies might be a sound strategy for those looking to capitalize on this bullish trend.
**Editor:** Thanks so much for your insights today, Jane. It will be fascinating to see how this all unfolds in the coming weeks!
**Jane Smith:** Thank you for having me! It will certainly be an interesting time for the cryptocurrency market.
