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- Trump’s Presidency to Prioritize Bitcoin with Regulatory Support and Price Targets
Trump’s Presidency to Prioritize Bitcoin with Regulatory Support and Price Targets
News on the Blockchain
December 11, 2024
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 762
Market Cap: $3.45T (+1.63%)
24h Volume: $302.9B (-8.44%)
Bitcoin Dominance: 55.8%
Ethereum Dominance: 12.8%
ETH Gas Price: 14.9 Gwei
Fear & Greed Index: 73 (Greed)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin | $97,296.52 | +1.47% | $1.93T | $102.76B |
Ethereum | $3,661.04 | +0.57% | $440.95B | $55.01B |
Tether | $1.00 | +0.02% | $138.70B | $247.93B |
BNB | $678.73 | +0.17% | $97.74B | $2.96B |
Solana | $217.89 | +4.34% | $103.80B | $8.12B |
💹 Market Highlights:
Total DeFi Volume: $22.53B (7.44% of total market)
Stablecoins Volume: $278.4B (91.91% of total market)
Coin with Highest % Change: PEPU (+136.64%)
📈 Preview On Today’s News:
- Trump’s Presidency to Prioritize Bitcoin with Regulatory Support and Price Targets
- Goldman Sachs Eyes Investment in Bitcoin and Ethereum Amid Crypto Surge
- Bitwise Investments Predicts Record Highs for Major Cryptocurrencies in 2025
Keep reading for more!
Today’s News:
1)
Trump’s Presidency to Prioritize Bitcoin with Regulatory Support and Price Targets
Following his reelection, US President Donald Trump is set to prioritize Bitcoin (BTC) during his presidency, viewing it as akin to the stock market. Trump's administration is expected to introduce favorable regulations for the cryptocurrency sector, highlighted by the appointment of David Sacks as the first White House crypto czar. Under Trump's leadership, Bitcoin has experienced a historic year in 2024, becoming the first crypto-based ETF and reaching six-figure valuations, a surge attributed in part to his election. Trump aims to further boost BTC’s value, with aspirations of it hitting $150,000 early in his term. Additionally, global attention on Bitcoin is increasing, with Russia proposing the adoption of a strategic Bitcoin reserve, potentially setting a trend for other nations.
Regulatory Support and Leadership: Trump’s administration will focus on Bitcoin through favorable regulations and the appointment of a dedicated crypto czar, aiming to elevate BTC’s market presence and price.
Bitcoin’s Record Growth: Bitcoin achieved significant milestones in 2024, including becoming the first crypto-based ETF and reaching six-figure values, with expectations to reach $150,000 under Trump’s leadership.
2)
Goldman Sachs Eyes Investment in Bitcoin and Ethereum Amid Crypto Surge
Goldman Sachs, a $3 trillion asset manager, announced on December 10, 2024, that it will evaluate investing in Bitcoin and Ethereum markets, contingent on regulatory approval. CEO David Solomon revealed this strategy during a Reuters NEXT press conference, highlighting the firm's bullish stance following Bitcoin's first-ever surge past $100,000 last week. This rally was fueled by expectations of a more favorable regulatory environment under the Donald Trump administration. As of September 30, 2024, Goldman Sachs holds approximately $710 million in Bitcoin ETFs, with a significant $461 million invested in BlackRock’s iShares BTC ETF, demonstrating strong confidence in Bitcoin’s potential. Additionally, the bank has activated its crypto trading desk, offering products such as BTC and ETH CME futures, OTC non-deliverable forwards, and options, signaling a strategic move towards embracing broader institutional adoption of cryptocurrencies.
Goldman Sachs is considering investments in Bitcoin and Ethereum, following Bitcoin’s milestone of surpassing $100,000 and its substantial holdings in Bitcoin ETFs.
The firm has launched a crypto trading desk offering various cryptocurrency products, indicating a strategic push towards greater institutional adoption of crypto assets.
3)
Bitwise Investments Predicts Record Highs for Major Cryptocurrencies in 2025
Bitwise Investments has forecasted that Bitcoin, Ethereum, and Solana will achieve new all-time highs in 2025, with Bitcoin potentially reaching $200,000, Ethereum $7,000, and Solana $750. These predictions, representing approximately 100% gains from current prices, are driven by factors such as increased institutional investments, corporate acquisitions, the establishment of a US Bitcoin Strategic Reserve, a more favorable regulatory environment, and larger asset allocations. Additionally, Bitwise anticipates a significant rise in Bitcoin ETF inflows and expects more countries, including the United States, to adopt Bitcoin as a reserve asset by the end of 2025. However, the firm also acknowledges possible obstacles like government selling, unfavorable federal policies, and the failure of meme coins that could impede these price targets. Looking further ahead, Bitwise envisions Bitcoin surpassing the $1 million mark by 2029, potentially overtaking the gold market in value.
Key Predictions for 2025: Bitcoin to $200,000, Ethereum to $7,000, and Solana to $750, driven by institutional and corporate investments, favorable regulations, and increased Bitcoin ETF inflows.
Future Outlook and Challenges: Potential hurdles include government selling and policy disappointments, with a long-term vision of Bitcoin exceeding $1 million by 2029 and rivaling the gold market.
