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 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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How should investors approach the volatility of cryptocurrencies in light of the recent market surge?
**Interview with Jeff Dorman, Co-Founder of Arca**
**Editor:** Thank you for joining us today, Jeff. Bitcoin has recently soared to over $87,000 following Donald Trump’s election victory. Would you say this marks the beginning of a new era for cryptocurrencies in the U.S.?
**Jeff Dorman:** Absolutely! This moment can be described as a renaissance for the cryptocurrency sector. Trump’s promise to turn the U.S. into the “crypto capital of the planet” has reignited enthusiasm among investors and miners alike. The positive sentiment in the market is palpable.
**Editor:** We’ve seen significant gains not just in Bitcoin, but also in other cryptocurrencies like Ether and Dogecoin. What do you think is driving this surge?
**Jeff Dorman:** The overall optimism surrounding a change in U.S. policies regarding digital assets is a major factor. With Trump’s proposed approach to cryptocurrencies, including potential accumulation of national reserves, investors feel a sense of freedom from previous regulatory constraints. This has fueled a broader rally across the market.
**Editor:** Many investors are now debating whether to buy or sell at these historic price levels. What advice would you give them?
**Jeff Dorman:** It’s always a tricky decision. The current trends suggest that Bitcoin and other cryptocurrencies could continue to rise due to favorable policy shifts. However, investors should also keep in mind the inherent volatility of the market. It’s important for them to assess their risk tolerance and long-term goals before making any decisions.
**Editor:** Looking ahead, what do you predict for the future of Bitcoin and the broader cryptocurrency landscape under Trump’s administration?
**Jeff Dorman:** If Trump follows through with his promises, we could see an era of significant growth and innovation in the crypto space. Increased acceptance and potential regulatory clarity will likely attract more institutional and retail investors, expanding the market further. However, investors should remain vigilant as any unexpected developments could impact prices.
**Editor:** Thank you for your insights, Jeff. It’s certainly an exciting time for the cryptocurrency market!
**Jeff Dorman:** Thank you for having me! It will be interesting to see how this plays out in the coming months.
