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 are the key regulatory changes that could impact Bitcoin’s surge following Trump’s election?
**Interview with Crypto Analyst Mark Richards on the Surge of Bitcoin Post-Trump’s Election**
**Host**: Welcome to the show, Mark! Today we’re discussing the remarkable surge in Bitcoin prices following Donald Trump’s election victory. Bitcoin has recently hit an all-time high of over $87,000, which has electrified the cryptocurrency market. What are your thoughts on this dramatic increase?
**Mark Richards**: Thanks for having me! This spike in Bitcoin is indeed unprecedented. Trump’s electoral victory has galvanized investors, who see his administration as a potential catalyst for cryptocurrency growth. His vow to transform the U.S. into the “crypto capital of the planet” has certainly created a more favorable atmosphere for digital assets, encouraging both investment and development in this space.
**Host**: That’s interesting! Analysts like Jeff Dorman have referred to this moment as a “renaissance” for the crypto sector. How do you interpret that perspective?
**Mark Richards**: Absolutely. Dorman’s description is spot-on. Events like Trump’s election open up new possibilities and reframe how the world perceives cryptocurrencies. They could lead to more adventurous regulatory approaches, enabling wider acceptance and integration of digital currencies into the mainstream economy.
**Host**: With Bitcoin’s price surging nearly 9% in one day, are there specific factors fueling this rally?
**Mark Richards**: Definitely! First, there’s the overall optimism stemming from Trump’s election, which many view as a departure from the previous regulatory tightrope. Additionally, we’re seeing notable gains in related sectors, with companies like Coinbase experiencing significant price increases. This reflects a broader investor confidence that aligns with anticipated policy shifts. Also, the potential replacement of SEC Chairman Gary Gensler, who has been a vocal critic of cryptocurrencies, could further lighten regulations.
**Host**: It sounds like we might be entering a new phase for cryptocurrency. Should investors be buying, selling, or holding their positions right now?
**Mark Richards**: This is a critical question. Many analysts believe that Bitcoin’s upward trajectory could continue, especially in light of supportive policies. However, as always, it’s essential for investors to do their due diligence. The market is volatile, and while the current momentum is strong, one should consider both market fundamentals and their risk tolerance before making any decisions.
**Host**: Thank you, Mark. Your insights are invaluable as we navigate this exciting, yet unpredictable, crypto landscape. What do you see as the key takeaway for our listeners today?
**Mark Richards**: The key takeaway is to stay informed and cautious. The crypto space is evolving rapidly, especially now with potential policy changes. Whether you’re an investor or simply curious, understanding these dynamics will be crucial as we move forward.
**Host**: Great advice! Thanks for joining us today, Mark, and sharing your expertise on the booming cryptocurrency market after Trump’s victory.
**Mark Richards**: Thank you for having me! It’s a fascinating time to be involved in crypto.
