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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**Interview with Jeff Dorman, Co-founder of Arca**
**Interviewer:** Jeff, thank you for joining us today. We’ve seen Bitcoin soar above $87,000 following Donald Trump’s election. What do you think has been the primary driver behind this remarkable rally?
**Jeff Dorman:** Thank you for having me. The primary driver has undoubtedly been the shift in the political landscape, with Trump’s victory signaling a more favorable regulatory environment for cryptocurrencies. His promise to turn the U.S. into the “crypto capital of the planet” has instilled a renewed sense of optimism among investors and miners alike.
**Interviewer:** That’s interesting. We’ve also seen significant jumps in the prices of alternative cryptocurrencies like Ether and Dogecoin. Why do you think this movement is happening across the board, not just with Bitcoin?
**Jeff Dorman:** Absolutely, this isn’t just a Bitcoin phenomenon. The entire cryptocurrency market is experiencing a renaissance. As mainstream acceptance grows and major political figures embrace digital assets, it encourages a broader market entry. Investors are diversifying their portfolios now, which is driving up the prices of other cryptocurrencies as well.
**Interviewer:** With Bitcoin reaching historic levels, many investors are wondering whether they should buy or sell at this point. What’s your perspective on the current market conditions?
**Jeff Dorman:** It’s always challenging to time the market, but considering the favorable policies expected under the new administration, it could be wise for investors to remain bullish. The easing of regulations and the possible accumulation of national reserves of Bitcoin suggest potential for further growth. However, as always, investors should consider their risk tolerance and consult with financial advisors.
**Interviewer:** You mentioned the potential for a replacement of SEC chairman Gary Gensler, who has been a vocal critic of cryptocurrencies. How significant could this change be for the industry?
**Jeff Dorman:** A leadership change at the SEC could be pivotal. If new leadership is more aligned with the pro-crypto stance, we could see a wave of innovations and more institutional adoption. It could create a much more conducive environment for crypto projects to thrive and reduce the regulatory fears that have held investors back.
**Interviewer:** Jeff, you’ve painted a promising picture for the crypto market. Do you believe this momentum can sustain itself in the long term?
**Jeff Dorman:** Yes, I do. Events like this accelerate the world’s understanding of cryptocurrencies and their potential future roles. As more individuals and institutions engage with these digital assets, the foundational aspects supporting this market will continue to grow stronger. While there may be volatility, the long-term outlook remains optimistic.
**Interviewer:** Thank you, Jeff, for your insights on this evolving landscape in the cryptocurrency market. It’ll be fascinating to see how these developments unfold.
**Jeff Dorman:** Thank you for having me. I’m excited to see where we go from here!
