Bitcoin Surges Toward $100K as SEC Shakeup and Trump Victory Fuel Crypto Frenzy

Bitcoin's Rollercoaster Ride to $100K

The cryptocurrency world is abuzz as Bitcoin nears the mythical valuation of $100,000. According to Newsweek, despite its tumultuous history marked by price slumps and skepticism from critics, Bitcoin has more than doubled in value since January 1st of this year. The recent surge follows President-elect Donald Trump's victory in the 2024 presidential election, which many believe will lead to more crypto-friendly policies. Economic historian Garrick Hileman notes that those who mocked Bitcoin enthusiasts during past downturns are now witnessing a significant turnaround.

SEC Chair Resignation Boosts Crypto Market

The Guardian reports that cryptocurrencies have seen sharp increases following Gary Gensler's announcement of his resignation as SEC chair effective January 20th when Trump takes office. Known for his critical stance on the crypto industry, Gensler’s departure signals potential deregulation under Trump’s administration. This news propelled Bitcoin prices further upward alongside other digital currencies like Ether and Dogecoin.

Coinbase Stock Surges Amid Pro-Crypto Sentiment

Investor's Business Daily highlights Coinbase Global (COIN) stock hovering above a buy zone after volatile trading sessions post-Trump’s electoral win. As one of the leading platforms for cryptocurrency transactions globally, Coinbase saw its shares climb significantly amidst speculation about favorable regulatory changes under Trump’s presidency.

Ethereum Faces Challenges While Bitcoin Eyes New Heights

A report from crypto.news discusses Ethereum struggling below $3,500 while competitors reach new highs amid Bitcoin's rally towards $100k. Institutional investors seem less interested in Ethereum compared to alternatives like Solana due to scalability issues and lackluster ETF performance.

This Week in Cryptocurrency: A Revolutionary Moment?

TheStreet provides an overview of key events shaping the current landscape including MicroStrategy purchasing billions worth of BTC and political endorsements boosting market confidence. With record-breaking valuations nearing reality for major coins such as Shiba Inu experiencing notable burn rates contributing positively toward scarcity-driven demand dynamics within their respective ecosystems—cryptocurrencies continue weaving themselves into mainstream discourse worldwide!

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