What happened in crypto this week
2 min readNov 22, 2024
- SEC Chair and biggest anti-crypto Gary Gensler intends to step down when Donald Trump takes office. “The Securities and Exchange Commission is a remarkable agency. <…> The staff comprises true public servants. It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world,” Gensler emphasized in the press release.
- The leading crypto coin can reach $100,000 by the end of the month, according to Leon Waidmann, head of research at The Onchain Foundation. BTC growth can be driven, among other things, by stablecoin inflows that hit $9.7 billion in the past 30 days. Bitget Research’s Ryan Lee shares the view: “If history repeats itself <…>, a 14.7% from the current price level will push the coin well above the $100,000 target for the month. The post-halving cycle trend is also very positive when projecting the future of Bitcoin”.
- Galaxy Digital CEO Mike Novogratz suggested that BTC hitting the $100,000 mark would be “just the start” for the flagship crypto coin. Earlier, Bitcoin surged to $99,000, which, according to some analysts, could be the limit for its current cycle. “Normally you hit 100, you bounce off of it. I would not be surprised if we go much higher. We are in price discovery, there is not a lot of supply,” Novogratz said.
