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 are the key factors contributing to the current surge in Bitcoin’s price following Trump’s election victory?
**Interview with Jeff Dorman, Co-founder of Arca**
**Editor:** Welcome, Jeff Dorman! Thank you for joining us today to discuss the recent surge in Bitcoin and the broader cryptocurrency market following Donald Trump’s election victory.
**Dorman:** Thank you for having me. It’s an exciting time for the crypto industry.
**Editor:** Bitcoin has surpassed an astonishing $87,000, fueled by Trump’s promise to make the U.S. the “crypto capital of the planet.” What do you think has driven this unprecedented market rally?
**Dorman:** There’s a significant shift in sentiment among investors. Trump’s victory brings with it expectations of more favorable policies towards cryptocurrencies. His commitment to fostering a pro-crypto environment is making investors optimistic, which is evident in Bitcoin reaching record highs. This is not just about the price; it reflects a broader acceptance and potential for cryptocurrencies.
**Editor:** You referred to this moment as a “renaissance” for the crypto sector. Can you elaborate on what you mean by that?
**Dorman:** Absolutely. A renaissance implies a newfound respect and recognition of the potential that cryptocurrencies offer, both technologically and financially. With policies that could promote innovation and reduce regulatory constraints, we are looking at historic developments that could fundamentally reshape financial systems. This could open up new opportunities for businesses and investors alike.
**Editor:** Many investors are now questioning whether it’s the right time to buy or sell. What’s your perspective on this?
**Dorman:** It’s a complex decision. While prices are at all-time highs, the momentum suggests there could be further growth, especially if policies shift favorably. However, as always in investing, one should be cautious. Setting clear investment strategies, like taking profits or reinvesting, based on individual financial goals, is crucial. It’s wise for investors to remain informed and flexible in these dynamic market conditions.
**Editor:** There have also been gains in shares of crypto-related companies, like Coinbase. How do you see their future in light of these events?
**Dorman:** Companies like Coinbase are directly benefiting from increased interest and investment in the crypto space. As cryptocurrencies gain mainstream acceptance, these platforms become essential for facilitating transactions and investments. Their growth potential is robust, but it’s important to assess valuation and market conditions continuously.
**Editor:** With Trump planning to replace SEC Chair Gary Gensler, who has been critical of the sector, do you foresee a more open regulatory environment for cryptocurrencies?
**Dorman:** Yes, the potential shift in leadership at the SEC could lead to more favorable regulations for digital assets. A regulatory environment that encourages innovation rather than stifles it could unlock further growth and institutional adoption. However, it’s essential to watch how these political developments unfold and what policies they may enact.
**Editor:** Thank you, Jeff, for your insights. It sounds like an exciting time ahead for the cryptocurrency market!
**Dorman:** Thank you for having me! I’m looking forward to seeing how the industry evolves in the coming months.