The post Bitcoin gets a resurgence as more pro-crypto candidates vie to head U.S. regulators appeared on BitcoinEthereumNews.com.

Bitcoin surged by 5.4% yesterday, resuming its march towards the $100k mark. The sudden Bitcoin price resurgence is presumably credited to the heated debate behind the successors of top U.S. regulatory agencies. Bitcoin’s recent rally to $100k was temporarily cut short by a losing streak of four consecutive days. The dip saw Bitcoin plummet by nearly 10% from an all-time high of $99,800 to $90,742. However, the market appears to have partially recovered and has resumed its upward trajectory to the $100k mark. Bitcoin makes a partial recovery after a three-day losing streak According to CoinMarketCap, Bitcoin is trading at $95,565 at the time of this publication. Although the asset’s seven-day gain has largely remained unchanged, its 24-hour gain has risen to 3%. During the U.S. election campaigns, Trump won the hearts of crypto voters after publicly declaring his support for digital assets. The former president made a number of promises to the crypto community involving regulatory clarity and boosting the crypto mining sector. He mentioned that his administration would end the years-long war on crypto imposed by the Bidden Harris administration and promised never to sell the 200,000 bitcoins held by the U.S. government.  His pledge to establish a strategic Bitcoin reserve has sparked bullish sentiment across the industry. As a result, the Chinese government, through a Shanghai court, recently announced that personal ownership of digital assets is not against Chinese regulations, bringing clarity to crypto holders in mainland China. Bitcoin’s recent performance happened amid intensifying discussions on who will lead the top U.S. regulatory agencies when President-elect Donald Trump assumes office on January 20th.  Speculations intensify on the next U.S. SEC chair A number of candidates who have come forward to vie for the top positions of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures…

---

Filed under: News - @ November 28, 2024 6:18 am