Compared to the certainty of Trump's presidency, I am more concerned about the departure of SEC Chairman Gensler. This is very obvious in XRP, which has doubled in just a few days!
Everyone knows that for years, the SEC has been stifling the crypto market to extract wealth from the public. Whoever performs well, they fleece them! XRP was one of the early targets, and the last sensational event was CZ. At the same time, there are UNI, RPL, and others. Today, I watched Bitwise Chief Investment Officer Matt Hougan's views in an interview; if SEC Chairman Gary Gensler leaves, the crypto market is expected to see the following developments:
- The stablecoin market size will reach 200 billion to 500 billion USD;
- Banks hold Bitcoin for clients;
- More cryptocurrency ETFs will be launched. I agree with this view. To extend, the size of USDT or USDC will increase. An increase means that the market capacity is expanding, and more investment funds are entering the market, which solves the issue of large money in ETFs. Currently, there is a severe shortage of funds in the market! Additionally, more ETFs being approved will inevitably bring unexpected benefits to everyone! For example, XRP's ETF, SOL's ETF, SUI's ETF, AVAX's or AAVE's ETF, etc. Although Ethereum's ETF has not yet shown enough energy, after all, the president has changed. The influence of crypto ETFs is no longer what it used to be. Compared to the relatively under-regulated crypto platforms, ETFs are naturally more attractive. Also, Bitcoin options are going to be listed today. Options have a larger capacity but will bring significant volatility to Bitcoin. This was mentioned a month in advance in the training camp. If Bitcoin's volatility increases, the altcoins' volatility will also increase. In fact, this is unfriendly for beginners, as large fluctuations can leave many people at a loss! Gensler is expected to leave before Christmas, and the new six nominees have differing attitudes towards crypto. I still hope the friendly one wins! Another point is regarding the appointment of the new SEC chairman; we have made some important arrangements in advance, which will affect my interests! Just wait, these days of waiting are quite torturous!
(For opinion sharing only, not investment advice)
