After Trump’s victory, the value of Bitcoin and Dogecoin rises

The victory of Donald Trump in the North American elections had immediate effects on the cryptocurrency market. As soon as the result was confirmed, the appreciation of digital assets such as Bitcoin ea Dogecoin soared, reflecting investors’ excitement over the former Republican president’s return to power.

This movement, known as the “Trump trade”, had already been anticipated by many investors, who were preparing for the positive impact of a possible Trump victory in the elections.

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Valuation of Bitcoin and Dogecoin

In the early morning after the victory, the value of Bitcoin reached the historic mark of US$ 75.358the highest value ever recorded by the cryptocurrency to date. Although the price retreated slightly throughout the day, it still showed an increase of more than 8% compared to the previous day’s value. The volume of transactions was also significant, surpassing US$126 billionwhich demonstrates the interest and optimism of the crypto market after the electoral result.

Dogecoin, known for being a “meme cryptocurrency” with the vocal support of Elon Musk, also registered a significant increase.

The currency rose by 19% in just one day. This appreciation is not only linked to the market’s general optimism with Trump’s victory, but also to the track record of Elon Musk, who frequently mentions Dogecoin on his social networks, increasing the value of the cryptocurrency immediately.

In the electoral context, Musk was one of Trump’s supporters, and there is speculation that he may even take on a role within the government, which has further increased enthusiasm around cryptocurrencies.

Trump’s Pro-Cryptocurrency Campaign

During his campaign, Trump made his position in favor of cryptocurrencies clear. He criticized his opponent, Democrat Kamala Harris, accusing her of being against digital assets and suggesting that she would implement taxes and regulations that would harm the sector.

On the other hand, Trump promised to deregulate the cryptocurrency market, avoiding excessive taxation and supporting the adoption of blockchain as a financial tool in the country.

Trump even suggested the creation of a Bitcoin reserve by the United States government, which generated even more expectations of a positive scenario for the crypto market. These promises of deregulation and institutional support caused many investors to increase their positions in Bitcoin and other cryptocurrencies in the weeks leading up to the election, hoping for an appreciation if Trump were elected.

Memecoins and Musk’s influence

In addition to Bitcoin, other cryptocurrencies called “memecoins”, such as Dogecoin, also saw significant appreciation. Dogecoin rose 19% in the hours following confirmation of Trump’s victory, and another popular cryptocurrency based on a fan community on Telegram, cryptocurrency 67%. These coins, which began as jokes or memes, ended up becoming investment assets, especially with the support of influential figures such as Elon Musk.

Musk, who is known for his interest in the world of cryptocurrencies, has a history of influencing the value of Dogecoin through his social media.

During the campaign, he demonstrated support for Trump and has already been named as a possible member of the new administration, which has caused many investors to speculate about the positive impact of his presence on cryptocurrency policy. This movement further increased the value of memecoins, which continue to attract the attention of investors.

What to expect in the future

According to experts, Trump’s support for the crypto market could result in greater acceptance of cryptocurrencies in the United States, with fewer regulations and a more favorable environment for investors and companies in the sector.

This positive outlook could take Bitcoin to new records, with predictions that it could reach the US$ 100.000 already in 2025.

However, it is worth remembering that the cryptocurrency market is highly volatile. Although expectations are optimistic, risks remain. The volatility that makes Bitcoin attractive to many investors can also lead to significant losses over a short period. Experts recommend that investors exercise caution and diversify their portfolios to mitigate possible risks.

Source: CNBC