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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What should investors consider when deciding to buy, sell, or hold cryptocurrencies during this market surge?
**Interview with Jeff Dorman, Co-Founder of Arca Asset Management**
*Host:* Hello everyone, and welcome to today’s special segment. We’re thrilled to have Jeff Dorman, co-founder of Arca Asset Management, joining us to discuss the recent surge in cryptocurrency prices following Donald Trump’s election victory. Jeff, thank you for being here.
*Jeff Dorman:* Thanks for having me. It’s great to be here.
*Host:* Let’s dive right in. Bitcoin has surpassed $87,000, marking a new all-time high. What do you think has driven this unprecedented rally?
*Jeff Dorman:* The election of Donald Trump has undoubtedly played a pivotal role. His promise to transform the US into the “crypto capital of the planet” has invigorated both investors and miners. When there’s talk of a more favorable regulatory environment, it sparks enthusiasm in the market. We’re witnessing what I would call a renaissance for the cryptocurrency sector.
*Host:* That’s an interesting term—renaissance. Can you elaborate on why you believe this moment is significant for the industry?
*Jeff Dorman:* Absolutely. Events like Trump’s victory broaden the global perspective on the potential of cryptocurrencies. This election has not only raised Bitcoin’s profile but also opened doors for other cryptocurrencies like Ethereum and Dogecoin, which are reaching historic highs themselves. It illustrates a shift toward greater acceptance and recognition of digital assets in the mainstream financial landscape.
*Host:* Speaking of other cryptocurrencies, we’ve seen a notable rise in the prices of Ether and Dogecoin as well. How do you see this trend unfolding?
*Jeff Dorman:* With Bitcoin leading the charge, it often creates a positive ripple effect across the market. Ether’s rise is particularly noteworthy as it indicates a growing interest in smart contracts and decentralized applications. Dogecoin’s recent performance shows that even meme coins can gain traction in a bullish market. This eclectic interest could further widen Bitcoin’s appeal as it reinforces the idea that various cryptocurrencies can coexist and thrive.
*Host:* As we approach these historic levels, investors are likely wondering—should they be buying, selling, or holding their cryptocurrencies?
*Jeff Dorman:* Right now, there’s a strong case for holding or even buying more. The prospect of more lenient regulations and the idea of significant Purchases of Bitcoin for national reserves could catalyze further growth. However, as always, potential investors should consider their risk tolerance and investment goals carefully. The market can be volatile, and it’s essential to approach it with a clear strategy.
*Host:* Last question, Jeff: how do you see the SEC’s role influencing this market now that there are discussions about changing its leadership?
*Jeff Dorman:* The SEC under Gary Gensler has been quite cautious regarding cryptocurrency. A change in leadership could foster a more open environment for innovation. If Trump delivers on his campaign promise to create a favorable policy framework, it could lead to expanded opportunities for the crypto space. This potential shift is one reason why many are feeling optimistic about the future of this asset class.
*Host:* Thank you, Jeff, for your insights. It’s a fascinating time for the cryptocurrency market, and we appreciate your perspective.
*Jeff Dorman:* Thank you for having me. It’s been a pleasure discussing this with you.
*Host:* And thank you to our viewers for tuning in. Stay informed, and we’ll see you next time!
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This hypothetical interview draws on the provided information and discusses the recent developments in the cryptocurrency market in light of Trump’s presidency and its impact on investor sentiment and market dynamics.