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 investors navigate the volatility in Bitcoin’s price amidst the current market surge?
**Interview with Crypto Analyst Jeff Dorman on Bitcoin’s Post-Election Rally**
**Interviewer:** Thank you for joining us today, Jeff. We’re seeing Bitcoin’s price surge to unprecedented levels following Trump’s election victory. Can you explain how his win has influenced this bullish trend in the cryptocurrency market?
**Jeff Dorman:** Thank you for having me. Trump’s election has indeed sparked a significant rally in the cryptocurrency sector. Investors perceive his administration as potentially more favorable to digital assets due to his promise to establish the U.S. as the “crypto capital of the planet.” This optimism has invigorated the market, leading to substantial gains for Bitcoin and other cryptocurrencies.
**Interviewer:** Bitcoin recently surpassed $87,000 and is set to break its previous records. What factors do you think are contributing to such rapid price increases?
**Jeff Dorman:** Besides the political climate, which includes expectations of less regulation and a more supportive framework for digital assets, there’s also a historical context at play. When Bitcoin breaks its all-time highs, it often invites more speculative trading and a rush of new retail investors eager to capitalize on perceived momentum. It’s essentially a perfect storm of market sentiment and political encouragement.
**Interviewer:** With shares of companies like Coinbase also soaring, is this trend reflective of a broader adoption of cryptocurrencies?
**Jeff Dorman:** Absolutely. The lifting of Bitcoin lifts related assets, as investors see the potential for long-term growth. Companies associated with cryptocurrency are benefiting from increased visibility and interest, which attracts institutional investments and legitimizes the market further. We’re witnessing a renaissance, as I mentioned before, where the world’s view of cryptocurrencies and their applications is evolving rapidly.
**Interviewer:** Many investors are left wondering whether now is the time to buy or sell amidst this historic price surge. What are your thoughts on investor strategy right now?
**Jeff Dorman:** It’s a tricky call. The potential for Bitcoin to continue rising exists, especially with expected policy changes, including replacing the current head of the SEC, which could lead to a more cryptocurrency-friendly regulatory environment. However, potential buyers should do their homework. Investing in such a volatile asset requires a strong risk tolerance and, perhaps, a focus on long-term gains rather than short-term speculation.
**Interviewer:** Thank you, Jeff. It seems that Bitcoin and the cryptocurrency market are at an inflection point, and many will be watching closely in the coming weeks.
**Jeff Dorman:** My pleasure! Yes, the coming months will be crucial for the crypto market, and I’m excited to see how it unfolds.
