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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How did Donald Trump’s election victory specifically impact the regulatory environment for cryptocurrencies, according to Jeff Dorman?
**Interview with Jeff Dorman, Co-Founder of Asset Manager Arca**
**Editor:** Thank you for joining us today, Jeff. The cryptocurrency market has experienced a significant rally following Donald Trump’s election victory. Can you explain how his victory has influenced investor sentiment in the crypto space?
**Jeff Dorman:** Absolutely, thank you for having me. Trump’s election has indeed sparked an unprecedented rally in cryptocurrencies. His promise to transform the U.S. into the “crypto capital of the planet” is a powerful message for investors. It has generated a wave of optimism, signaling a more favorable regulatory environment for digital assets, which many believe will drive further adoption and investment in the sector.
**Editor:** Bitcoin recently surpassed $87,000, a major milestone. What factors do you believe contributed to this dramatic increase?
**Jeff Dorman:** The surge in Bitcoin’s price can be attributed to several interconnected factors. Firstly, the excitement around Trump’s pro-crypto policies and the anticipation of regulatory changes have invigorated the market. Additionally, there’s been an uptick in institutional investment as companies look to diversify into cryptocurrencies, which, combined with speculator enthusiasm, has led to substantial price increases.
**Editor:** You mentioned a “renaissance” for the crypto sector. What does this mean for the future of cryptocurrencies?
**Jeff Dorman:** When I refer to a “renaissance,” I suggest that we’re witnessing a transformative period for cryptocurrencies. The broader acceptance of digital assets, with increased consumer and institutional interest, is expanding the narrative around their potential to innovate and disrupt traditional finance. This election has broadened perceptions of cryptocurrencies, enabling discussions about their role in technology and the economy at large.
**Editor:** With Bitcoin and other cryptocurrencies reaching historic highs, many investors are debating whether to buy or sell. What advice would you give them in this volatile market?
**Jeff Dorman:** It’s essential for investors to approach the market with a balanced perspective. While Bitcoin’s rise shows promise, it is crucial to understand the underlying risks. I would advise investors to consider their long-term investment strategy. Those who believe in the fundamental value of cryptocurrencies and the future growth of the sector may choose to hold or invest further. However, others might see this as an opportunity to take profits. It’s a personal choice that should align with one’s financial goals and risk tolerance.
**Editor:** Thank you, Jeff, for providing your insights on this exciting yet complex landscape in the cryptocurrency market. We appreciate your time.
**Jeff Dorman:** Thank you! It’s an exciting time for cryptocurrencies, and I’m glad to share my perspective.