Expectations that the government of Donald Trump, who won the elections in the USA, will issue loosening regulations for cryptocurrencies continue to support cryptocurrencies.
Anti-cryptocurrency SEC Chairman Gary Gensler announced that he will resign. The Chairman of the SEC constantly warned against cryptocurrencies and described them as dangerous. Gensler announced that he would resign on January 20.
The Trump administration is expected to appoint a pro-cryptocurrency person to head the SEC.
All these developments have enabled cryptocurrencies to rally since November 7. During this period, the total value of the cryptocurrency market exceeded 3 trillion dollars!
As of 09:42 this morning, Bitcoin is at $98,782, up 1.39 percent. Bitcoin tested above 99 thousand dollars in overnight transactions. Bitcoin’s rise in the last 7 days was 13 percent.
The second highest volume cryptocurrency, Ethereum, rose by 8 percent to $3,366. The last 7-day increase was 10.41 percent.
Dogecoin, Elon Musk’s favorite, rose by 2 percent to 0.3924 cents.
With these increases, the total value of the cryptocurrency market increased by 3.67 percent to 3.3 trillion dollars.
