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 view of 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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What impact do you think Trump’s policies will have on the future of cryptocurrency regulations?
**Interview with Jeff Dorman: A Look at the Cryptocurrency Boom Post-Trump’s Victory**
**Interviewer:** Good morning, Jeff! Thank you for joining us today. There’s been quite a stir in the cryptocurrency market following Donald Trump’s election victory. Can you tell us about the current state of Bitcoin and other cryptocurrencies?
**Jeff Dorman:** Good morning! Absolutely, it’s been an exciting time for the crypto market. As we’ve seen, Bitcoin recently surged past $87,000, hitting an all-time high of $87,460. This unprecedented rally is largely attributed to the enthusiastic response from investors to Trump’s promise to position the United States as the “crypto capital of the planet.”
**Interviewer:** That’s remarkable! What do you believe are the driving factors behind this surge beyond just the election result?
**Jeff Dorman:** Well, it’s a combination of factors. Trump’s victory and his pro-crypto stance have invigorated investor sentiment. Additionally, there has been a significant uptick in institutional interest, which is fueling demand. The broader market sentiment is also shifting, with more individuals and corporations considering cryptocurrencies as viable assets.
**Interviewer:** You mentioned “institutional interest.” How does that play into the overall growth of cryptocurrencies?
**Jeff Dorman:** Institutional interest is a game changer. When large funds and corporations start investing in cryptocurrencies, it lends credibility to the market and encourages retail investors to get involved. Following Trump’s election, we saw Coinbase’s shares jump by 22%, which reflects the optimism surrounding the market’s future.
**Interviewer:** How are other cryptocurrencies faring amid this Bitcoin boom?
**Jeff Dorman:** Ether reached its highest value in three months, surpassing $3,350, and we’re also seeing Dogecoin make headlines with its significant growth. The entire market seems to be riding this wave of enthusiasm, which can cause a ripple effect across various altcoins.
**Interviewer:** It sounds like a real renaissance for the crypto space. What are your thoughts on what this means for future regulations or policies in the sector?
**Jeff Dorman:** I believe this election marks a turning point. Trump’s potential policies could lead to a more open and less regulated approach toward cryptocurrencies, including the possibility of accumulating national reserves of Bitcoin. It’s an exciting time, as these developments could pave the way for innovation and broader adoption of digital assets.
**Interviewer:** Thank you, Jeff! It seems like crypto enthusiasts have a lot to be optimistic about right now.
**Jeff Dorman:** Definitely! The future looks bright for the industry, and I think we’re only beginning to scratch the surface of the potential that cryptocurrencies have to offer.
**Interviewer:** Thank you for your insights, Jeff! We’ll keep an eye on the developments in this dynamic market.
