Breaking news! Bitcoin's upward momentum has resumed! Optimism for $100,000 reignited!
As of the time of writing, the price of Bitcoin has returned to above $96,000, which has led to a significant rise in cryptocurrency-related stocks, with Coinbase up 6% in after-hours trading and MicroStrategy rising by 9%.
What good news has occurred?
According to reports, Trump's transition team has interviewed seasoned financial regulator Paul Atkins for the position of chairman of the U.S. Securities and Exchange Commission. Atkins is a leading candidate to replace the outgoing SEC chairman Gary Gensler.
It is worth mentioning that Atkins is a staunch supporter of cryptocurrency and fintech companies. This positive news has boosted optimism in the crypto market, prompting Bitcoin to recover its upward trend.
Regarding Bitcoin's earlier decline this week, I believe the main reason was profit-taking by short-term investors, especially since Bitcoin has already risen by 45% after Trump's victory announcement. Once these short-term buyers take their profits, Bitcoin will find a strong support base, and I believe it will break through the $100,000 mark in the short term.
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