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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**Interview with Jeff Dorman, Co-Founder of Arca**
**Interviewer:** Welcome, Jeff! Thank you for joining us today to discuss the recent surge in the cryptocurrency market following Donald Trump’s victory.
**Jeff Dorman:** Thanks for having me! It’s an exciting time for the crypto industry.
**Interviewer:** Indeed, it is! Bitcoin has recently reached an all-time high of over $87,000. What do you think has driven this remarkable spike?
**Jeff Dorman:** The market is reacting positively to Trump’s promise to transform the U.S. into the “crypto capital of the planet.” Investors are optimistic about a more favorable regulatory environment under his administration, which is crucial for the growth of cryptocurrencies. Additionally, Trump’s intention to accumulate national reserves of bitcoin adds to the bullish sentiment.
**Interviewer:** You mentioned a renaissance for the crypto sector. Can you elaborate on that?
**Jeff Dorman:** Absolutely. Events like this election not only increase the price but also broaden the public’s perception of cryptocurrencies’ potential. They highlight the transformative impact that digital assets can have on technology and finance, making them more mainstream.
**Interviewer:** With Bitcoin exceeding previous highs, many investors are contemplating their next moves. Do you think it’s a good time to buy or sell?
**Jeff Dorman:** It ultimately depends on individual investment strategies. However, given the current momentum and favorable policy shifts, many analysts believe that Bitcoin could continue its rise. That said, it’s essential for investors to do their homework and consider their risk tolerance in this highly volatile market.
**Interviewer:** With a potential change in leadership at the SEC, how might that affect crypto regulations moving forward?
**Jeff Dorman:** A shift in leadership at the SEC could mean a more lenient approach toward regulations, especially regarding digital assets. If the new administration pursues policies that encourage innovation and adoption in the crypto space, it could lead to a significant increase in market confidence and participation.
**Interviewer:** Thank you, Jeff, for your insights during this pivotal moment for cryptocurrencies. It will be interesting to see how the market evolves under the new administration.
**Jeff Dorman:** Thank you! I look forward to seeing how this all unfolds and what it means for the future of finance.