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.
#Bitcoin #cryptocurrencies #skyrocket #buy
What factors are driving the current surge in cryptocurrency prices following Trump’s electoral victory?
**Interview with Jeff Dorman, Co-Founder of Arca: Analyzing the Impact of Trump’s Presidency on the Cryptocurrency Market**
**Editor**: Welcome, Jeff, and thank you for joining us today. The cryptocurrency market is experiencing a significant surge following Donald Trump’s recent electoral victory. Can you share your insights on the factors driving this rally?
**Jeff Dorman**: Thank you for having me. The unprecedented rise in cryptocurrency prices, particularly bitcoin reaching over $87,000, is largely driven by market sentiment and expectations of favorable regulatory changes under Trump’s administration. His promise to make the U.S. the “crypto capital of the planet” resonates with investors who are hopeful for a more accepting environment for digital assets.
**Editor**: You referred to this moment as a “renaissance” for the crypto sector. Can you elaborate on what this means for the industry moving forward?
**Jeff Dorman**: Absolutely. When I say “renaissance,” I mean that we’re entering a new era where cryptocurrencies may gain broader acceptance and potential legitimacy. Events like this change perceptions about the capabilities and future applications of digital currencies. If President Trump implements policies that are more accepting, we could see a major shift in how cryptocurrencies are integrated into the mainstream financial system.
**Editor**: Many investors are wondering about the right timing for their investments. With bitcoin and other cryptocurrencies at historic highs, should they be buying in or looking to sell?
**Jeff Dorman**: It’s a complicated decision. While the current trends suggest that prices could continue to rise given the anticipated regulatory support and the potential new leadership at the SEC, it’s essential for investors to evaluate their risk tolerance. If someone believes in the long-term trajectory of cryptocurrencies, it might make sense to hold. Conversely, if they’re looking for short-term gains, locking in profits could be wise given the volatility always inherent in this market.
**Editor**: Trump previously criticized bitcoin when he was president, calling it “not money” and decrying its volatility. How do you think his past stance influences the current situation?
**Jeff Dorman**: That’s an interesting question. While Trump’s previous criticism may have created doubt among traditional investors, his current approach seems much more bullish. His change in attitude could reflect a recognition of the growing importance and value of cryptocurrencies in the global economy. Now, it seems he’s pivoting towards leveraging the potential of these assets rather than shunning them.
**Editor**: Lastly, analysts have mentioned a less regulated framework for cryptocurrencies under Trump’s planned policies. What could that mean for the industry?
**Jeff Dorman**: A less regulated environment could drive innovation and creativity within the crypto space. However, it also carries risks; less oversight may lead to increased volatility and potential market manipulation. It’s a balancing act between fostering growth and ensuring market safety. We’re at a critical juncture where how these policies are implemented will significantly shape the future landscape of cryptocurrencies.
**Editor**: Thank you, Jeff, for your valuable insights. It will be interesting to see how this all unfolds in the coming months.
**Jeff Dorman**: Thank you for having me. It’s certainly an exciting time for the crypto community!
