Will the Cryptocurrency Industry Survive Gensler? Rally May Come in Bitcoin!

10x Research founder Markus Thielen predicts that US Securities and Exchange Commission (SEC) Chairman Gary Gensler will resign within the first two months after the end of President Joe Biden's term in the White House.

According to Thielen's statements, when the management in the White House changes, the SEC management usually changes as well. According to Thielen, Trump's candidacy could spell disaster for Gensler's presidency at the SEC.

Thielen thinks that Biden's withdrawal from the presidential race is a sign that Trump will win. But not everyone agrees.

With Joe Biden withdrawing from the US Presidential race, no credible candidate can seriously challenge Donald Trump. The November election appears to have concluded without a single vote being cast. For Bitcoin, a crypto-friendly administration will enter the White House.”

“Although SEC Chairman Gensler's term ends on June 5, 2026, he will most likely resign in January/February 2025,” Thielen wrote.

In February, Trump deputy J.D. Vance called Gensler the “worst person” to lead the regulation of cryptocurrencies and said he had a closed-minded and overly politicized approach to crypto policy.

Rally may begin in Bitcoin

Additionally, Thielen noted a number of bullish catalysts for the crypto market in the coming weeks, saying there are “multiple reports and rumors” that Trump will make a surprise announcement at the Bitcoin conference in Nashville, Tennessee, on July 25

“Speculation is high that he will declare Bitcoin as a strategic reserve asset, which could trigger a parabolic rise in Bitcoin's price.”

Thielen warns investors not to consider taking profits or shorting BTC ahead of Trump's speech