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 potential risks and rewards for investors in the current cryptocurrency market following Trump’s election victory?
**Interview with Jeff Dorman, Co-founder of Asset Manager Arca**
**Interviewer:** Welcome, Jeff! Thank you for joining us today. As we have seen, Bitcoin has surged to unprecedented levels following Donald Trump’s election victory, reaching highs of over $87,000. What are your thoughts on this massive rally?
**Jeff Dorman:** Thank you for having me! It’s indeed an exciting time for the cryptocurrency market. The surge can be attributed to increased investor confidence due to Trump’s promises of making the U.S. the ”crypto capital of the planet.” This has invigorated both individual and institutional investors.
**Interviewer:** Interesting! Could you elaborate on the implications of Trump’s cryptocurrency policies and how they differ from past administrations?
**Jeff Dorman:** Absolutely. One of the most significant shifts is the potential for a more open and less regulated environment for cryptocurrencies. Trump’s approach seems geared toward embracing crypto innovation rather than stifling it with heavy regulations, as we have seen previously. He plans to accumulate national reserves of Bitcoin, which could provide even more legitimacy to the entire sector.
**Interviewer:** That sounds promising! Now, considering the current market conditions, do you think this is a good time for investors to buy or sell cryptocurrencies?
**Jeff Dorman:** This is a pivotal moment. While we’ve reached historic levels, the overall sentiment suggests continued growth. Analysts are optimistic that prices can ascend even higher due to favorable policy changes and major potential shifts in leadership at regulatory institutions. However, every investor’s situation is unique. It’s vital to assess personal risk tolerance and investment goals before making any decisions.
**Interviewer:** How are companies related to cryptocurrency, like Coinbase, reacting to this boom?
**Jeff Dorman:** Companies like Coinbase are seeing a significant uptick in their stock values, with a recent increase of 22%. This reflects not just enthusiasm in the crypto market but also the growing public interest and trust in digital assets. A thriving crypto market means increased trading volume and engagement, which bodes well for these companies.
**Interviewer:** Thank you, Jeff! Before we wrap up, could you give us a final take on what the future holds for cryptocurrencies under this new administration?
**Jeff Dorman:** We are witnessing what I would describe as a “renaissance” for the crypto sector. Events like these broaden the world’s view on the potential of cryptocurrencies, suggesting we are just at the beginning of a much larger trend. If Trump delivers on his promises, we could see unprecedented growth and acceptance of digital assets across many levels of our economy.
**Interviewer:** Thank you for your insights, Jeff! It will be intriguing to see how the landscape evolves in the coming months.
