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 do you foresee the future of altcoins in light of the current political climate and market trends?
**Interview with Crypto Expert, Sarah Thompson**
**Editor:** Welcome, Sarah! Thank you for joining us today to discuss the incredible surge in Bitcoin following the recent presidential election. What are your thoughts on this massive increase and what triggered it?
**Sarah Thompson:** Thank you for having me! The spike in Bitcoin’s price, surpassing $87,000, can largely be attributed to Donald Trump’s election and his commitment to positioning the U.S. as the “crypto capital of the planet.” His policies promise a more favorable environment for cryptocurrencies, which is exciting for investors and miners alike.
**Editor:** It’s fascinating to see how political changes can influence financial markets. What specific policies from Trump do you think are driving this rally?
**Sarah Thompson:** One major factor is Trump’s intention to accumulate national reserves of Bitcoin, which suggests a shift toward more integration of cryptocurrencies within the formal economy. Furthermore, his administration’s plan to replace current SEC Chairman Gary Gensler is seen as a move toward a less regulated crypto environment, which many investors view positively.
**Editor:** We’ve also seen significant rises in altcoins like Ether and Dogecoin. Do you think this rally will extend beyond Bitcoin?
**Sarah Thompson:** Absolutely! Bitcoin often leads market trends, but the enthusiasm created by the current political climate is also lifting altcoins. With Ether surpassing $3,350 and Dogecoin hitting historic levels, this could signify a broader “renaissance” for the entire crypto market, as noted by analysts like Jeff Dorman.
**Editor:** Many investors are now facing the dilemma of whether to buy or sell at these historic highs. What advice would you give?
**Sarah Thompson:** It really depends on individual investment strategies and risk tolerance. While some analysts believe Bitcoin could continue to climb, there’s always risk involved. I would advise investors to stay informed about regulatory changes and market trends and to consider diversifying their portfolios to mitigate potential losses.
**Editor:** That’s solid advice. it seems like we’re entering a new era for cryptocurrencies in the U.S. What do you think the future holds?
**Sarah Thompson:** I think we are definitely entering a transformative phase for the crypto sector. If these policies materialize and gain support, we could see a sustained rally and innovation within the space. It’s an exciting time for both seasoned and new investors.
**Editor:** Thank you, Sarah, for your insights. This will certainly help our viewers understand the implications of the recent political landscape on the crypto market.
**Sarah Thompson:** Thank you for having me!
