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 does Jeff Dorman view the current investment climate in cryptocurrency following Trump’s victory?
**Interview with Jeff Dorman, Co-founder of Arca: The Impact of Trump’s Victory on Cryptocurrency**
**Editor:** Good afternoon, Jeff. Thank you for joining us today. Following Donald Trump’s recent victory, we’ve seen Bitcoin soar to over $87,000. What are your thoughts on this sudden surge?
**Jeff Dorman:** Good afternoon! It’s great to be here. The rise in Bitcoin’s price is indeed remarkable, and it’s largely fueled by the optimism surrounding Trump’s pledge to establish the U.S. as the “crypto capital of the planet.” This promise has galvanised both crypto investors and miners, encouraging a bullish sentiment in the market.
**Editor:** Many are describing this moment as a “renaissance” for the cryptocurrency sector. Can you elaborate on what this means for the industry as a whole?
**Jeff Dorman:** Absolutely. By “renaissance,” I mean a revitalization of interest and faith in cryptocurrencies, not just from retail investors but also from institutional players. Events like this election can significantly shift public perception regarding digital assets. With Trump’s administration expected to adopt a more favorable regulatory stance, we may witness increased legitimacy and further integration of cryptocurrencies into traditional finance.
**Editor:** You mentioned potential changes in regulatory policies. Can you expand on how a shift in leadership at the SEC might impact the market?
**Jeff Dorman:** Certainly. Gary Gensler, the current SEC Chair, has been relatively strict on crypto regulations, which has created a cloud of uncertainty over the market. If Trump moves to appoint someone more favorable to crypto, it could enhance market accessibility and reduce some of those regulatory pressures. This shift could motivate more investment and innovation within the space, further driving the market’s expansion.
**Editor:** With Bitcoin’s price hitting historic highs and other cryptocurrencies like Ethereum and Dogecoin also rising, do you think this is a good time for investors to buy, or should they be cautious?
**Jeff Dorman:** Timing the market is always tricky. However, if investors believe in the long-term fundamentals of cryptocurrencies and the potential for broader adoption, it could be a good time to buy. As more positive policies unfold and institutional interest grows, we may see continued upward momentum. On the other hand, volatility is inherent to this market, so it’s vital for investors to assess their own risk tolerance and long-term goals before making decisions.
**Editor:** Thank you for your insights, Jeff. It’s certainly an exciting time for the cryptocurrency market, and we appreciate you taking the time to discuss it with us today.
**Jeff Dorman:** My pleasure! It’s an exciting space to be a part of, and I look forward to seeing how it evolves in the coming months.