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 does Jeff Dorman believe are the primary factors driving the recent surge in Bitcoin’s price following the U.S. elections?
**Interview with Jeff Dorman, Co-founder of Arca**
*Host:* Welcome, Jeff! Thank you for joining us today to discuss the incredible surge in Bitcoin and the overall cryptocurrency market following the recent U.S. elections.
*Jeff Dorman:* Thanks for having me! It’s great to be here.
*Host:* The news is buzzing with Bitcoin reaching an all-time high of $87,460 after Donald Trump’s election win. What do you think is driving this unprecedented rally?
*Jeff Dorman:* Absolutely, this rally can largely be attributed to the optimism surrounding a more favorable regulatory environment for cryptocurrencies. Trump’s promise to position the U.S. as the “crypto capital of the planet” has created enthusiasm among investors and miners. They are hopeful for less restrictive regulations and even the potential accumulation of national reserves in Bitcoin [[1](https://www.reuters.com/technology/bitcoin-surges-record-high-trump-bets-2024-11-11/)].
*Host:* That’s an interesting point. You’ve referred to this moment as a “renaissance” for the cryptocurrency industry. Could you elaborate on what you mean by that?
*Jeff Dorman:* Sure! A “renaissance” reflects a transformative time for cryptocurrencies where mainstream acceptance is broadening. Events like Trump’s election highlight the potential of digital assets and how they could impact future technologies and financial systems [[1](https://www.reuters.com/technology/bitcoin-surges-record-high-trump-bets-2024-11-11/)]. It shows that we’re entering a phase where cryptocurrencies might not only be accepted but also celebrated.
*Host:* With Bitcoin and Ethereum also seeing significant rises, alongside companies like Coinbase benefiting from this boom, do you think there’s momentum for continued growth in the sector?
*Jeff Dorman:* I do. The positive sentiment surrounding policy changes, along with the possible overhaul in the SEC leadership, can encourage more institutional investment. Analysts are optimistic, and this might just be the beginning. Both Bitcoin and Ethereum have seen impressive gains, and even niche assets like Dogecoin are hitting historic levels, which suggests that investor confidence is at an all-time high [[1](https://www.reuters.com/technology/bitcoin-surges-record-high-trump-bets-2024-11-11/)].
*Host:* In light of these developments, what would you advise investors? Is it time to buy, hold, or sell?
*Jeff Dorman:* Given the current climate, I would recommend that investors closely watch market trends. The potential for Bitcoin’s price to rise further is significant, but so are the risks. Volatility is inherent in this sector, so it’s critical for investors to do their due diligence and consider their risk tolerance. Following these regulatory changes will be crucial [[1](https://www.reuters.com/technology/bitcoin-surges-record-high-trump-bets-2024-11-11/)].
*Host:* Excellent insights, Jeff! Thanks for joining us today and sharing your perspective on these exciting developments in the crypto market!
*Jeff Dorman:* Thanks for having me. It’s an exciting time for investors and the entire sector!
