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 the cryptocurrency market in light of recent political changes?
**Interview with Crypto Analyst, Sarah Williams on Bitcoin’s Surge Following Trump’s Election**
**Editor:** Thank you for joining us today, Sarah. We’re seeing a remarkable surge in Bitcoin prices following Donald Trump’s victory. Can you explain what factors contributed to this spike?
**Sarah Williams:** Thank you for having me. The surge, which saw Bitcoin hit an all-time high of $87,460, can largely be attributed to the optimism surrounding Trump’s election and his promises to make the U.S. the ”crypto capital of the planet.” Investors are excited about potentially more favorable regulations and support for cryptocurrencies under his administration, which has sparked a rally not just for Bitcoin, but for the entire cryptocurrency market.
**Editor:** How has this impacted other cryptocurrencies?
**Sarah Williams:** We’ve seen a significant rise across the board. For instance, Ethereum surpassed $3,350, and even Dogecoin has reached historic levels. This is indicative of a broader interest in cryptocurrencies as a whole, spurred on by the favorable sentiment created by Trump’s election.
**Editor:** Financial analysts refer to this moment as a “renaissance” in the crypto sector. What do you think drives this assessment?
**Sarah Williams:** Absolutely. It’s a pivotal moment because it signifies a shift in how cryptocurrencies are perceived—moving from a niche market to a mainstay in the financial landscape. Jeff Dorman’s comments on the broader view of crypto’s potential underscore this sentiment. The possibility of significant changes in regulatory focus and the accumulation of national reserves of Bitcoin under Trump’s policies can really differentiate this era from previous ones.
**Editor:** With the market at historic levels, what should investors consider? Should they buy or sell?
**Sarah Williams:** That’s a tough question. Many analysts believe that we could see further price increases due to favorable policies and a potential change in leadership at the SEC. However, it’s crucial for investors to analyze their own risk tolerance. It’s a volatile market, and while there is potential for gains, there are also risks involved. Long-term investors might consider holding, while others may find it prudent to take some profits off the table at these highs.
**Editor:** Thank you, Sarah, for your insights. It’s clear that the cryptocurrency landscape is shifting dramatically with these changes.
**Sarah Williams:** Thank you for having me. It’s an exciting time in the crypto world, and I look forward to seeing how this will unfold in the coming months!