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 potential long-term impacts of Trump’s policies on cryptocurrency regulation?
**Interview with Jeff Dorman, Co-founder of Arca Asset Management**
**Editor:** Thank you for joining us today, Jeff. The rally in the cryptocurrency market following Donald Trump’s election victory has been quite remarkable, with Bitcoin surpassing $87,000. What do you believe has driven this surge?
**Jeff Dorman:** Thanks for having me. The recent surge in Bitcoin’s value can be attributed to a combination of factors. Trump’s election has reignited enthusiasm among investors and miners. His promise to make the U.S. the “crypto capital of the planet” signals a potentially more favorable regulatory environment that many see as a green light for investment in digital assets.
**Editor:** You mentioned a more favorable regulatory landscape. Can you elaborate on how Trump’s policies might impact the cryptocurrency market?
**Jeff Dorman:** Absolutely. One of the key elements is the expected shift in leadership at the SEC, potentially moving away from Gary Gensler, who has taken a more cautious approach towards cryptocurrency regulation. Trump’s stance seems to favor accumulation of national bitcoin reserves and fostering an environment where cryptocurrencies can thrive. This could lead to increased institutional investment and broader acceptance in mainstream finance.
**Editor:** Analysts like you have referred to this moment as a “renaissance” for the crypto sector. What do you think this means for the future of cryptocurrencies?
**Jeff Dorman:** Yes, many are viewing this as a pivotal moment. A renaissance implies a rebirth, not just in terms of price but also in the perception of cryptocurrencies. Increased interest from the government can raise awareness of the technology’s potential and applications. This could lead to innovation and growth, pushing cryptocurrencies further into the mainstream.
**Editor:** With Bitcoin at historic highs, should investors be looking to buy more or cash out? What’s your take?
**Jeff Dorman:** It’s a tough call. Investors must assess their risk tolerance and investment goals. If the regulatory environment becomes more favorable and we see continued institutional support, the price may keep rising. However, as we approach these high levels, it’s essential for investors to carefully consider their positions and perhaps diversify into other assets. It’s a classic case of “buy low, sell high,” but the dynamics are constantly changing in crypto.
**Editor:** Thank you, Jeff. Your insights into the evolving landscape of cryptocurrency are invaluable, especially during these unprecedented times.
**Jeff Dorman:** Thank you for having me. It’s indeed an exciting time for the crypto market, and I look forward to seeing how it develops in the coming months.
