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 might Trump’s promised crypto-friendly policies influence the broader cryptocurrency market, according to Mike Stevens?
**Interview with Crypto Analyst Mike Stevens on Bitcoin’s Surge Post-Trump Victory**
**Host**: Welcome to our special segment on the cryptocurrency market. Today, we’re joined by Mike Stevens, a crypto analyst and investor. Mike, thanks for being here.
**Mike Stevens**: Thank you for having me! It’s an exciting time in the crypto world.
**Host**: Let’s dive right in. Bitcoin has recently surged to an all-time high of $87,460 following Donald Trump’s election victory. What do you think is fueling this rally?
**Mike Stevens**: The enthusiasm stems from Trump’s promise to make the U.S. a “crypto capital of the planet.” Investors are hopeful that his administration will bring about more favorable policies for cryptocurrencies. This sentiment was reflected in a nearly 9% increase in Bitcoin’s value shortly after the election, marking a significant recovery from earlier lows this year.
**Host**: It sounds like this election has catalyzed a broader crypto boom. We’ve also seen other cryptocurrencies like Ether and Dogecoin rising. Could you explain the broader impact of Trump’s election on the entire crypto market?
**Mike Stevens**: Absolutely. Besides Bitcoin’s surge, Ether hit its highest value in three months, and Dogecoin experienced historic growth too. The excitement isn’t just about Bitcoin; it’s about a whole market renaissance. Analysts, including Jeff Dorman from Arca, have noted this moment as a pivotal turning point. There’s a perception that increased crypto-friendly policies could lead to more innovation and investment in the sector.
**Host**: With this significant rise, investors might be asking whether it’s the right time to buy or sell. What’s your advice on that front?
**Mike Stevens**: Given the current landscape, I believe it’s essential to consider long-term perspectives. While Bitcoin’s price could continue to rise due to favorable policies and a possible shakeup at the SEC, potential investors should exercise caution and do their due diligence. The volatility remains, but the signs show a more open and less regulated approach in the future, which could benefit long-term holders.
**Host**: Your insights are invaluable, Mike. Lastly, what do you think will be the biggest challenge or concern as we move forward in this new crypto environment?
**Mike Stevens**: A significant challenge will be the regulatory landscape. How the Trump administration will navigate regulations, particularly with the SEC, will be crucial. If they can balance innovation with investor protection, it could fuel sustained growth in the market. However, if regulations become too restrictive, it could dampen enthusiasm. The next few months will be very telling.
**Host**: Thank you, Mike, for sharing your expertise on this. It certainly is a thrilling time for the crypto market, and we look forward to seeing how it unfolds in the coming months.
**Mike Stevens**: Thank you! It was a pleasure to be here.
**Host**: That’s all for today. Stay tuned for more updates in the crypto world!
