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 can new investors navigate the cryptocurrency market’s volatility during this boom?
**Interview with Jeff Dorman, Co-founder of Arca, on the Cryptocurrency Boom Following Trump’s Election Victory**
**Interviewer:** Thank you for joining us today, Jeff. It’s certainly an exciting time for the cryptocurrency market. Bitcoin has surged to new heights, surpassing $87,000. What are your thoughts on this unprecedented rally following Donald Trump’s election victory?
**Jeff Dorman:** Thank you for having me! Indeed, it’s a thrilling time for crypto enthusiasts. Trump’s victory has acted as a catalyst for the entire cryptocurrency market. His promise to make the U.S. the “crypto capital of the planet” resonates deeply within the community, instilling a sense of optimism that we haven’t seen in a while.
**Interviewer:** You mentioned this moment being a “renaissance” for the cryptocurrency industry. Could you elaborate on what you mean by that?
**Jeff Dorman:** Absolutely. The surge in Bitcoin’s price and the overall enthusiasm around cryptocurrencies signal a significant shift in how people view digital assets. This rally opens the door for more institutional interest and broader acceptance. Events like this challenge preconceived notions about cryptocurrencies and underscore their potential for the future of technology and finance.
**Interviewer:** Alongside Bitcoin, other cryptocurrencies like ether and even Dogecoin have also seen impressive gains. What’s driving this widespread growth across the board?
**Jeff Dorman:** A combination of factors are at play here. First, there’s the overall bullish sentiment fueled by Trump’s election. Second, more people are becoming aware of cryptocurrencies’ utility and potential in a digitizing economy. We’re witnessing a shift from speculative trading to more strategic investments as individuals and institutions recognize the long-term benefits of holding these assets.
**Interviewer:** With such significant rises in cryptocurrency prices, do you think this is a good time for new investors to enter the market?
**Jeff Dorman:** Timing the market is always tricky. While the current boom is certainly enticing, new investors should approach with caution. It’s important to do thorough research and understand the volatility that comes with cryptocurrencies. In the long run, I believe the crypto market will continue to grow, but there will be corrections and fluctuations along the way.
**Interviewer:** What do you expect from Trump’s policies regarding cryptocurrency and regulation?
**Jeff Dorman:** If Trump follows through on his promises to bolster the crypto sector, we could see a more favorable regulatory landscape. Many investors are hopeful for a more open and supportive environment that would accelerate innovation and investment in cryptocurrency. However, it’s essential to keep an eye on how these policies unfold in practice.
**Interviewer:** Thank you, Jeff, for your insights on this dynamic situation. We appreciate your time!
**Jeff Dorman:** Thank you for having me! It’s an exciting time for all of us in the crypto space, and I look forward to seeing how things develop.
