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 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 does Jeff Dorman mean by a “renaissance” in the cryptocurrency industry?
**Interview with Jeff Dorman, Co-founder of Arca**
**Interviewer:** Thank you for joining us today, Jeff. The cryptocurrency market has seen extraordinary growth following Donald Trump’s election victory, particularly with Bitcoin hitting record highs. What do you attribute this surge to?
**Jeff Dorman:** Thank you for having me. The surge can be primarily attributed to the optimism surrounding Trump’s commitment to fostering a favorable regulatory environment for cryptocurrencies. His rhetoric around turning the U.S. into the “crypto capital of the planet” has resonated well with investors, leading to a surge in enthusiasm and confidence in the market.
**Interviewer:** You mentioned a “renaissance” for the cryptocurrency industry. Could you elaborate on what that means?
**Jeff Dorman:** Certainly. A renaissance implies a revival or rebirth, and in the context of cryptocurrencies, we are seeing a renewed interest and investment across the board. Both major cryptocurrencies like Bitcoin and Ethereum as well as various altcoins, such as Dogecoin, are experiencing significant upticks in value. This moment represents a shift in perception, where more people are starting to recognize the potential of cryptocurrencies not just as speculative assets but as fundamental components of our technological future.
**Interviewer:** With Bitcoin surpassing $87,000, many investors might be wondering— is this a good time to buy or sell?
**Jeff Dorman:** That’s the million-dollar question, isn’t it? Given the momentum driven by promising policies and potential shifts within regulatory bodies like the SEC, there’s a strong case for buying, especially if you’re looking at a long-term investment. However, it’s crucial for investors to be aware of the volatility that can accompany such rapid increases. A well-informed strategy, centered around personal financial goals and risk tolerance, is key right now.
**Interviewer:** What do you expect to see in the coming months for Bitcoin and the broader cryptocurrency market?
**Jeff Dorman:** I anticipate continued growth which will be driven by both the favorable regulatory landscape and increased mainstream acceptance of cryptocurrencies. We could see Bitcoin setting new highs, potentially even more vast adoption from institutional players. However, as always, there will be hurdles in the form of regulatory uncertainties and market corrections. Keeping an eye on these factors will be essential for both new and seasoned investors.
**Interviewer:** Thank you, Jeff. Your insights into the cryptocurrency market during this pivotal moment are greatly appreciated!
**Jeff Dorman:** Thank you for having me! Exciting times ahead for the world of crypto!
