Bitcoin peaked at $89,623 following expectations that Donald Trump will reverse the White House's tough stance on cryptocurrency, enticing investors to cash in. Analysts forecast a rise to $100,000 by 2024.
Trump's campaign charmed the cryptocurrency sector, with promises of making the US the 'crypto capital of the planet,' launching his crypto platform, WLFI, and hinting at possible actions against SEC Chair Gensler.
Dogecoin surged 135% since Trump's election, benefiting from Musk's support and the belief that Trump's administration could usher in more favorable regulations for cryptocurrencies.
The speculation surrounding Trump's potential regime raises questions about his capability to demote SEC Chair Gensler without sparking legal complications, as sources indicate a preference for crypto-friendly regulators.
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