Bitcoin could hit $100K November, Trump mulls crypto-friendly CFTC chair: Finance Redefined

As a seasoned crypto investor with over a decade of experience in the digital asset market, I have witnessed firsthand the rollercoaster ride that Bitcoin has been. The recent surge in Bitcoin’s price to breach $90,000 and the predictions of reaching $100,000 before November ends have filled me with a mix of excitement and caution.

According to market experts, it’s likely that the value of Bitcoin will exceed $100,000 by the end of November, following its record-breaking high of over $90,000 and an exceptional performance in October, which has been the strongest month for Bitcoin’s price movement.

Boosting the increasing investor appetite for high-risk investments, United States President-elect Donald Trump is contemplating appointing a crypto-friendly candidate, Summer Mersinger, to lead the Commodity Futures Trading Commission (CFTC). Previously, Mersinger advocated for a more favorable regulatory stance towards cryptocurrencies.

Bitcoin price could fast-track to $100,000 high in November — Analysts

As a crypto enthusiast, I’m excitedly keeping my eyes peeled for Bitcoin reaching an unprecedented milestone of $100,000, which some analysts anticipate could happen in November. This prediction is backed by historical chart patterns and a surge in investor interest since the US elections.

On November 13th, Bitcoin (BTC) broke its previous high of $90,000, about a week following the U.S. presidential election in which Donald Trump emerged victorious.

According to Ryan Lee, the head analyst at Bitget Research, Bitcoin’s impressive growth of more than 100% this year has surpassed many conventional financial investments.

As a dedicated researcher delving into the fascinating world of cryptocurrencies, I find myself reflecting on November’s historical significance in terms of Bitcoin’s returns. Intriguingly, my analysis hints at the possibility that Bitcoin could potentially reach $100,000 by the month’s end – a prospect I find captivating as I follow its trajectory.

“If history repeats itself and Bitcoin prices grow as projected, a 14.7% from the current price level will push the coin well above the $100,000 target for the month…”

Trump mulls tapping crypto-friendly CFTC chair: Report

As a crypto investor, I’ve just learned that the transition team of the incoming president, Donald Trump, is contemplating potential candidates for the role of chairing our nation’s financial regulatory agency. These individuals are reportedly current and former officials from the Commodity Futures Trading Commission (CFTC), according to Reuters News.

As a market analyst, I can attest that the Commodity Futures Trading Commission (CFTC) is instrumental in overseeing digital currency markets subject to regulation within the United States. In terms of influence, it ranks just below the Securities and Exchange Commission (SEC), another key player in this domain.

Reportedly, Summer Mersinger – a Republican member of the Commodity Futures Trading Commission (CFTC), who advocates for a friendlier regulatory approach towards cryptocurrencies – is being considered as a potential candidate for leading the agency.

Institutional investors signal long-term commitment to crypto

As a market analyst, I’ve noticed a surge of trust among institutional investors towards Bitcoin and the wider cryptocurrency landscape. Consequently, many of these investors are now strategizing to boost their long-term investments in digital currencies.

According to the yearly Future Finance study conducted by Swiss digital asset bank Sygnum, there’s been a growing interest in cryptocurrencies among institutional investors. The survey results, unveiled on November 14 and sent to CryptoMoon, pointed out changing preferences and optimistic views towards digital currencies within the market.

Martin Burgherr, the Chief Clients Officer at Sygnum Bank, stated that stricter, clearer regulations worldwide are fostering a favorable outlook among institutional investors. Furthermore, he pointed out that these regulations are contributing positively to their sentiments.

“Among the most important is perhaps the approval and the subsequent launch of the US Bitcoin Spot ETFs, which has the potential to accelerate the institutional adoption of digital assets.”

Conflux Foundation commits $500 million to fuel PayFi Web3 payments solution

The Conflux Foundation intends to allocate a massive $500 million towards boosting the development of PayFi, also known as Pay Finance, an innovative payment system within the Web3 framework.

The sum of $500 million being invested by Conflux is sourced from their ecosystem fund and earmarked for the advancement of PayFi, a blockchain-centric payment system designed to integrate conventional financial services with the blockchain technology.

PayFi strives to establish a more unified system for value exchange by introducing financial services such as credit cards, invoice financing, and reverse factoring onto the blockchain, as revealed by the Conflux Foundation on November 11th.

Snowden calls for decentralization, criticizes VC influence on Solana

At a recent gathering called the Redacted conference held by Near in Bangkok, Edward Snowden – a champion for privacy and a former employee of the National Security Agency (NSA) – discussed the importance of decentralization.

Speaking on topics like cryptocurrencies, artificial intelligence and blockchain technology, Snowden also addressed the impact of venture capital (VC) on blockchain projects, using Solana as an example.

He described Solana as “born in prison” due to its heavy VC funding, suggesting that financial backing can impede a blockchain network’s ability to operate independently.

DeFi market overview

As per information from CryptoMoon Markets Pro and TradingView, a majority of the top 100 digital currencies ranked by market capitalization concluded the week with gains.

Among the top 100 cryptocurrencies, memecoins dominated the market this week, with Peanut the Squirrel (PNUT) recording a staggering increase of more than 1,600%, making it the highest gainer. Second on the list is Pepe (PEPE), which saw a significant surge of over 104% during the same period.

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2024-11-15 22:12