Driving Factors Behind Bitcoin's Momentum The crypto market as a whole has gained approximately $900 billion since Trump’s Nov. 5 election win. Investors are expecting second Donald Trump presidency to be a "golden age" for cryptocurrencies. Potential initiatives under such a presidency might include: More supportive regulations for the crypto industry in place of a crackdown. The establishment of a national Bitcoin reserve. Fiscal policies like larger budget deficits and inflationary pressures, which could further enhance Bitcoin’s appeal as a hedge. There is also better access to capital markets, which is bolstering bitcoin demand. More major players are integrating Bitcoin into their portfolios. Strategists are of the view that the case for $200,000 is made for bitcoin. Bitcoin ETF Options Begin Trading Options on BlackRock’s popular iShares Bitcoin Trust ETF IBIT began trading on the Nasdaq Tuesday. IBIT traded 73,000 options contracts in the first 60 mins of trading Tuesday, Nasdaq told CNBC, putting the fund in the top 20 of the most active non-index options. Options trading can provide investors a way to benefit from Bitcoin's infamous price volatility, whether prices are rising or falling. Gensler to Step Down as SEC Chair in January Crypto enthusiasts celebrated Thursday as SEC Chair Gary Gensler announced his resignation, effective January, paving the way for improved relations between the cryptocurrency industry and Washington regulators. During his tenure, Gary Gensler frequently clashed with major cryptocurrency companies, with the SEC filing lawsuits against industry leaders like Coinbase.

https://www.reuters.com/technology/bitcoins-wild-ride-toward-100000-2024-11-21/

I was hoping that Bitcoin would hit $100,000 by the end of the year, but if it keeps going at this rate, it could do it before Thanksgiving. It hit a new high at $99,121 today.

Bitcoin set a new all-time high at $95,000. I bought $2 of Bitcoin the day before the election and it is now worth $2.75. Wow!!!

Howard Lutnick is the proposed Secretary of Commerce. He is a huge proponent of crypto.