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 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 impact has Trump’s election had on Bitcoin and the overall cryptocurrency market?
**Interview with Crypto Expert Dr. Emily Chen on Bitcoin’s Surge Following Trump’s Election**
**Interviewer:** Good afternoon, Dr. Chen, and thank you for joining us today. The recent election of Donald Trump has led to Bitcoin soaring past $87,000. Can you explain what factors are driving this cryptocurrency boom?
**Dr. Chen:** Good afternoon! Yes, it’s indeed an exciting time for cryptocurrencies. Trump’s election has invigorated investor sentiment, primarily due to his promises to foster a more crypto-friendly environment in the U.S., aiming to make it the “crypto capital of the planet.” His administration’s anticipated policies, such as accumulating national reserves of Bitcoin and potentially relaxing regulations, have certainly fueled optimism in the market [[1](https://www.ft.com/content/aa5c0637-98df-4d2b-8343-87e75b3510e9)].
**Interviewer:** That sounds promising for investors. How has this rally in Bitcoin affected other cryptocurrencies, like Ether and Dogecoin?
**Dr. Chen:** The effects are widespread. Bitcoin’s meteoric rise has bubbles across the cryptocurrency landscape. Ether has surged past $3,350, reaching its highest point in three months, and even Dogecoin—initially launched as a joke—has seen impressive gains. This correlation suggests that positive news in the Bitcoin sector often bolsters confidence in other digital assets, creating a ripple effect [[1](https://www.ft.com/content/aa5c0637-98df-4d2b-8343-87e75b3510e9)].
**Interviewer:** Analysts are referring to this moment as a “renaissance” for the crypto sector. Could you elaborate on that perspective?
**Dr. Chen:** Certainly. Analysts like Jeff Dorman see this as a turning point that could reshape the future of technology and finance. The market is opening up, and there’s a collective acknowledgment of cryptocurrencies’ potential. As regulatory frameworks become more favorable, we may witness increased adoption across various industries, further legitimizing the crypto space [[1](https://www.ft.com/content/aa5c0637-98df-4d2b-8343-87e75b3510e9)].
**Interviewer:** With the market reaching historic highs, many investors are debating whether to buy or sell. What advice would you give?
**Dr. Chen:** The decision hinges on individual risk tolerance and investment strategy. Those looking to invest should consider the potential for further gains if supportive policies are implemented. However, market volatility is inherent in cryptocurrencies, so for some, it might be prudent to lock in profits if they’re risk-averse. Continuous monitoring of policy developments and market trends will be crucial [[1](https://www.ft.com/content/aa5c0637-98df-4d2b-8343-87e75b3510e9)].
**Interviewer:** Thank you, Dr. Chen, for sharing your insights. It seems like an exciting time for the crypto community, with many eyes on what comes next.
**Dr. Chen:** Thank you for having me! It certainly is a pivotal moment, and I’m excited to see how developments unfold.
