Bitcoin at record highs, sets sights on $100,000

The longer it survives it is taken more seriously, that's just the reality of things,

said Shane Oliver, chief economist and head of investment strategy at AMP Sydney

Over the last four years, there were a number of rule changes proposed where, to be blunt, it’s like: ‘What problem are we trying to solve?’

In remarks made before Gensler’s resignation announcement, Ken Griffin, the billionaire founder of the hedge fund Citadel, said

Much of Gensler’s agenda will not survive, in my opinion, the next four years. Between the courts and a new SEC, we’re going to see a rollback of the regulatory onslaught,

Griffin told the Economic Club of New York on Thursday

The SEC has met our mission and enforced the law without fear or favor,

Gensler said in his X post on Thursday

This is not necessarily a short-term story. It's likely a much longer-term story."

David Glass, a macro strategist at Citi, said

Another kick higher should bring in a fresh chase from those who like to buy what's strong,

according to Chris Weston, head of research at Australian online broker Pepperstone

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,

he wrote on X (formerly Twitter) in 2019.

The entire cabinet almost owns bitcoin, and are proponents of digital assets,

Novogratz said of the incoming administration

There will be some sharp corrections, certainly in the stocks that are more levered than the underlying commodity itself,

Novogratz said

So the people around that table are very pro this space. They're pro-innovation, they're pro-digital assets, they're pro-bitcoin."

He added

There's a ton of leverage in the system right now. ... The crypto community is levered to the gills, and so there will be a correction,

Novogratz said

There had been a giant seller for the last week, between 92, 93 and 94. Probably $14-15 billion of bitcoin sold there,

Novogratz said

I personally would tell my investors to buy straight bitcoin

Novogratz said

Many are wondering if this administration will bring the regulatory clarity the crypto community has been waiting for. It's likely too soon to say,

said Will Peck, head of digital assets at WisdomTree, a global exchange-traded fund issuer

While it's now firmly into overbought territory, it is being drawn toward the $100k level,

said IG Markets analyst Tony Sycamore

Bitcoin's price continues to be driven by a number of factors including improved liquidity conditions, increased institutional adoption, and a regulatory environment that has flipped from a headwind to a tailwind,

said Sam Callahan, an analyst at Swan Bitcoin

Buyers are strangling the sellers,

said IG Australia Pty Market Analyst Tony Sycamore

Bitcoin's performance historically aligns with significant geopolitical and economic events, and the aftermath of the U.S. election could see BTC reaching $100,000 this year or shortly after a potential Trump reelection."

Gabriele Giancola, CEO of Qiibee, echoed this sentiment, saying to Newsweek

Trump's victory has certainly accelerated price movement in the cycle,

Seraphine noted

If you take into account the fact that large companies like BlackRock and other major financial institutions are holding the asset on their balance sheets, this is a much different reality than any other previous cycles for the asset,

J.D. Seraphine, CEO of crypto-based AI validation platform Raiinmaker, told Newsweek