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 role do you think regulatory changes will play in the future of cryptocurrency investments?
**Interview with Jeff Dorman, Co-founder of Arca**
**Editor:** Welcome, Jeff Dorman! Thank you for joining us today to discuss the recent surge in the cryptocurrency market following Donald Trump’s surprising electoral victory.
**Jeff Dorman:** Thanks for having me! It’s great to be here.
**Editor:** Bitcoin has skyrocketed to an all-time high of over $87,000. What do you believe are the main factors driving this dramatic increase?
**Jeff Dorman:** The primary catalyst behind this price surge is undoubtedly the optimism surrounding Trump’s re-election and his commitment to making the U.S. the “crypto capital of the planet.” This promise has significantly boosted investor confidence. The prospect of lower regulatory hurdles and a more crypto-friendly policy environment excites both investors and miners.
**Editor:** You referred to the current moment as a “renaissance” for the crypto sector. Can you elaborate on that?
**Jeff Dorman:** Certainly! A renaissance suggests a revival and growth, and that’s what we’re witnessing in the crypto space. With rising prices for not only Bitcoin but also Ether and even tokens like Dogecoin, the market is broadening in scope. High-profile endorsements and promises of a more welcoming regulatory landscape will likely draw in more institutional investors, which is crucial for the industry’s maturation.
**Editor:** Beyond Bitcoin, other cryptocurrencies like Ether and Dogecoin have also seen significant gains. What does this indicate about the broader crypto market?
**Jeff Dorman:** It shows a robust interest across the entire spectrum of cryptocurrencies, not just Bitcoin. Ether reaching its highest value in three months and Dogecoin’s growth signify that investor sentiment is not only strong but also diversifying. People are becoming more open to exploring alternative cryptocurrencies, which can fuel innovation and hopefully lead to a more balanced market.
**Editor:** Analysts are discussing the prospect of Trump accumulating national reserves of Bitcoin. How would this influence the market?
**Jeff Dorman:** If Trump follows through on such initiatives, it would signal a dramatic shift in the government’s stance on digital assets. National reserves could drive up demand, increase legitimacy, and stabilize prices—potentially introducing Bitcoin as a more mainstream asset class. This could further incentivize both retail and institutional investments.
**Editor:** What should investors keep in mind in this ever-changing landscape?
**Jeff Dorman:** Investors should remain cautious yet optimistic. While the current trends are promising, it’s essential to stay informed about regulatory developments and market sentiment, as these can shift quickly. Diversifying one’s portfolio within the crypto space can be a wise strategy to mitigate risks associated with volatility.
**Editor:** Thank you, Jeff, for your insights into this rapidly evolving situation in the crypto market. We appreciate your time!
**Jeff Dorman:** Thank you! It was a pleasure discussing these exciting developments.