ChainCatcher news, according to The Block, the Bernstein analysis team led by Gautam Chhugani stated that the regulatory headwinds for the cryptocurrency market have turned into tailwinds following Donald Trump's victory in the election.

Analysts also reaffirmed their bullish cycle target for Bitcoin to approach $90,000 by the end of this year and reach $200,000 by 2025, anticipating that the new 'crypto-friendly' SEC chairman and Senate Banking Committee will accelerate regulatory transparency for the industry.