Bitcoin Looks Past $100K As SEC Chair Gary Gensler Plans To Step Down

Blockhead11-22

Cryptocurrency prices continued edging higher, sending bitcoin to less than 1% from $100,000. LMAX analyst Joel Kruger believes the postelection rally still has more fuel, boosted further by Thursday'...

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LMAX analyst Joel Kruger believes the postelection rally still has more fuel, boosted further by Thursday'...</p>\n\n<a href=\"https://www.investors.com/news/bitcoin-price-100000-record-high-sec-gary-gensler/\">Source Link</a>\n\n</div>\n","source":"investor_business_daily_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Looks Past $100K As SEC Chair Gary Gensler Plans To Step Down</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin Looks Past $100K As SEC Chair Gary Gensler Plans To Step Down\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 21:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/news/bitcoin-price-100000-record-high-sec-gary-gensler/><strong>Blockhead</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cryptocurrency prices continued edging higher, sending bitcoin to less than 1% from $100,000. LMAX analyst Joel Kruger believes the postelection rally still has more fuel, boosted further by Thursday'...</p>\n\n<a href=\"https://www.investors.com/news/bitcoin-price-100000-record-high-sec-gary-gensler/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MSTR","symbol_name":"MicroStrategy","start_time":0,"source_url":"https://www.investors.com/news/bitcoin-price-100000-record-high-sec-gary-gensler/","article_id":"2485658072","we_media_id":null,"thumbnails":["https://www.investors.com/wp-content/uploads/2017/10/stock-bitcoin-02-adobe-150x150.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485658072","pubTimestamp":1732283424,"sourceInfo":{"source_id":"investor_business_daily_highlight","name":"Investor’s Business Daily"},"weMediaInfo":null,"summary":"Bitcoin price closes in on $100,000 as postelection crypto rally continues. 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LMAX analyst Joel Kruger believes the postelection rally still has more fuel, boosted further by Thursday's announcement that Securities and Exchange Commissioner Gary Gensler plans to step down.\n\n\n\n↑\nX\n\n\n\n\nDonald Trump Wins 2024 Election: What It Means For Market Trends, Tesla Stock And Cryptocurrency Prices\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nDonald Trump Wins 2024 Election: What It Means For Market Trends, Tesla Stock And Cryptocurrency Prices\n\n\n\n\nBitcoin overnight Thursday spiked to $99,518, CoinDesk data showed, posting yet another all-time high after the U.S. elections registered a broad victory for Republicans.  Bitcoin held around $98,300 Friday morning. The world's largest cryptocurrency has rallied 135% so far this year.\nSome analysts expect bitcoin to hit $100,000 by year-end, a target that now looks possible any minute. While $100,000 is generally seen as a psychologically important threshold, some see it as also a level of possible resistance.\nHowever, Joel Kruger market strategist at LMAX Group, says there are reasons to suspect bitcoin may overshoot the $100,000 market this year. And Bernstein projects bitcoin will reach $200,000 by 2025.\n\"Bitcoin has continued with the charge to fresh record highs, seemingly on a mission to take out the much talked about psychological barrier at $100,000,\" Kruger wrote to IBD. Kruger noted that as of early Thursday, bitcoin is up 64% in Q4. Meanwhile, bitcoin has averaged more than 80% returns in the fourth quarter since 2013.\n\"The reason we bring this up is not to say the market is overextended, rather to highlight the possibility we still have more room to run in 2024,\" Kruger wrote, referencing the historical returns. \"This leaves bitcoin with another 16% to match those average returns, which suggests we could see an overshoot of $100,000 and through $110,000 before the year is out.\"\nSEC's Gensler To Step Down\nElsewhere, Securities and Exchange Commission Chair Gary Gensler on Thursday announced he plans to step down on Jan. 20 when President-elect Donald Trump takes office.\n\"It has been an honor of a lifetime,\" Gensler said in the release. \"I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favor.\"\nGensler, a contentious figure in the crypto industry, assumed the role in 2021. During his tenure, he has overseen a number of enforcement actions and rulemaking activities that affected digital assets. The SEC under Gensler sued a number of crypto exchanges and token projects, including Coinbase (COIN), Binance and Kraken, alleging they were unregistered brokers, clearinghouses and securities. But there were some positive developments for crypto under Gensler, as he oversaw the launch of the spot bitcoin ETFs in January.\nTrump on the campaign trail vowed to fire Gensler, and is reportedly considering crypto-friendly candidates to head the SEC. Although an official nominee hasn't been named,  CoinDesk reported that Trump is considering Teresa Goody Guillen as his pick. Goody Guillen is co-lead of law firm BakerHostetler's blockchain practice and served as an attorney for the SEC's Office of the General Counsel from 2009 to 2011.\nTrump Prioritizes Crypto\nThe Goody Guillen reports are the latest instance of Trump making good on his campaign promise to prioritize the crypto industry.\nTrump earlier this week said he plans to nominate Cantor Fitzgerald CEO Howard Lutnick to head the Department of Commerce, tasked with administering tariffs and investigating trade practices. Lutnick, an outspoken crypto advocate and cochair of Trump's transition team, may also play a role in setting policies for the digital asset industry. During the annual bitcoin conference earlier this year, Lutnick called Cantor Fitzgerald the \"best investment bank for digital assets,\" and it also serves as the custodian for Tether, one of the most widely-used stablecoins, Barron's reported.\nLutnick also at that conference said he is \"a fan\" of bitcoin and \"of course\" he owns bitcoin.\nThe Trump team is also considering a new White House crypto role, which would be the first of its kind and solely focused on cryptocurrency policy, Bloomberg reported citing unnamed sources. The Trump transition team is reportedly vetting candidates, with crypto industry advocates pushing for the role to have a direct line to the president.\nElsewhere, Truth Social parent Trump Media & Technology (DJT)  is reported closing in on a deal to acquire crypto trading firm Bakkt (BKKT), according to reports earlier in the week.\nCrypto Prices And Stock Action\nEthereum peaked at $3,427 overnight, adding to its 35% over the past month. Ethereum has rallied 46% so far this year, reaching a 52-week high of $4,090 in March. The No. 2 crypto is still well below its November 2021 peak above $4,800.\nBlackRock's iShares Bitcoin Trust (IBIT) and the spot bitcoin ETFs ticked slightly higher, with most on track for six consecutive daily gains. Shares of the ETFs are up more than 7% this week and trading at record highs.\nCoinbase (COIN) eased about 1% premarket Friday.\nMicroStrategy (MSTR) trimmed its early gains to less than 1%, following its 16.2% retreat Thursday.\nBitcoin miners trended lower, with Mara Holdings (MARA) leading declines with a 3.5% slide.\nYou can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison\nYOU MAY ALSO LIKE:\nKeep Up With Cryptocurrency Prices and News\nLooking For The Next Big Stock Market Winners? Start With These 3 Steps\nJoin IBD Live And Learn Top Chart Reading And Trading Techniques From Pros\nLearn How To Time The Market With IBD's ETF Market Strategy","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485658072"}