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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What impact do you think Donald Trump’s policies will have on the long-term growth of the cryptocurrency market?
**Interview with Jeff Dorman, Co-Founder of Asset Manager Arca**
**Interviewer:** Thank you for joining us today, Jeff. Bitcoin has recently surged above $87,000 following the election of Donald Trump. What are the main factors driving this rally in the cryptocurrency market?
**Jeff Dorman:** Thank you for having me. The rally we’re seeing is largely attributable to increased optimism among investors. Trump’s victory and his promise to establish the US as the ”crypto capital of the planet” have invigorated the market. His more favorable stance towards cryptocurrencies and hinting at less regulation encourages participation from both individual investors and institutional players.
**Interviewer:** Analysts have referred to this moment as a “renaissance” for the crypto industry. Can you elaborate on what this means for the future of digital assets?
**Jeff Dorman:** Absolutely. When I refer to it as a “renaissance,” I mean it’s a time of rebirth and newfound interest in the potential of cryptocurrencies. With more favorable policies anticipated and an evolving regulatory landscape, we’re likely to see greater innovation and interest from both investors and tech developers. This could reshape our understanding of finance and technology.
**Interviewer:** With Bitcoin reaching historic highs, many investors must be asking themselves if now is the right time to buy or sell. What advice do you have for both cautious investors and those looking to dive in?
**Jeff Dorman:** It really depends on the investor’s strategy and risk tolerance. For those already invested, it can be tempting to take profits, especially at these levels. However, if you believe in the long-term potential of cryptocurrencies and the broader adoption forecasted under Trump’s administration, it might be wise to hold. As for new investors, it’s crucial to do your due diligence and understand the volatility of this market. Timing can be tricky, but dollar-cost averaging could be a safer approach.
**Interviewer:** You mentioned potential changes in regulatory oversight, particularly concerning the SEC. How important is this for the future of cryptocurrencies?
**Jeff Dorman:** Regulatory clarity is essential for the sustained growth of the crypto market. If the SEC shifts towards a more supportive stance, it could foster greater institutional investment and legitimacy. This pivot could lead to an influx of capital and innovation, ultimately making cryptocurrencies more accessible and accepted in mainstream finance.
**Interviewer:** Thank you, Jeff, for your insights. It will be exciting to see how the cryptocurrency market evolves under this new political landscape.
**Jeff Dorman:** Thank you for having me. It’s definitely an exciting time for crypto, and I encourage everyone to stay informed and adaptable as this landscape continues to change.