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 be watching for in the cryptocurrency landscape in the coming weeks?
**Interview with Cryptocurrency Expert, Sarah Mitchell**
**Interviewer:** Welcome, Sarah! Thanks for joining us to discuss the recent surge in Bitcoin prices following Donald Trump’s presidential victory. How significant is this uptrend in the cryptocurrency market?
**Sarah:** Thank you for having me! The surge in Bitcoin, which recently exceeded $87,000, is indeed very significant. Trump’s promise to make the US a “crypto capital” has energized investors. We’ve seen unprecedented optimism in the market, not just for Bitcoin, but for various cryptocurrencies, creating a ripple effect in the industry.
**Interviewer:** You mentioned the broader effects on the market. Can you elaborate on which cryptocurrencies are benefiting the most from this rally?
**Sarah:** Certainly! Alongside Bitcoin’s rise, Ether has also reached a three-month high above $3,350. We’ve even seen Dogecoin experience remarkable growth, which is quite a turnaround for a coin that started as a joke in 2013. The entire ecosystem surrounding cryptocurrencies, including stocks of companies like Coinbase, has seen substantial increases as well.
**Interviewer:** That’s fascinating! You referred earlier to this moment as a “renaissance” for the crypto sector. What do you mean by that?
**Sarah:** Right! As Jeff Dorman from Arca discussed, this moment represents a new level of awareness and acceptance of cryptocurrencies. With political leadership seemingly more favorable, there’s an argument to be made that we might see increased innovation and investment in this space, paving the way for future technological developments.
**Interviewer:** With these historic price levels, many investors are wary. Is it a good time to buy or sell?
**Sarah:** It’s a tricky question. Analysts suggest that prices could continue to rise due to Trump’s pro-crypto policies and the anticipated changes at the SEC. However, investors should assess their risk tolerance and avoid making hasty decisions driven solely by hype. It’s wise to do your own research and consider your investment strategy carefully.
**Interviewer:** Wise words! what should we be watching for in the coming weeks in the cryptocurrency landscape?
**Sarah:** Keep an eye on policy developments from the new administration, regulatory changes, and Bitcoin’s price movements. Market sentiment can shift quickly, so staying informed about macroeconomic factors and industry news will be crucial for any investor looking to navigate this evolving space.
**Interviewer:** Thank you, Sarah, for your insights. We appreciate your time and expertise today!
**Sarah:** My pleasure! Thank you for having me.