The cryptocurrency market, particularly Bitcoin (BTC) and various altcoins, is on the cusp of a rebound as the Biden administration prepares to conclude.
Changes Expected with Trump's Administration
The outgoing Biden administration has taken a hard line against cryptocurrencies, implementing strict regulations. However, with the shift to a new administration, there might be a more favorable approach towards the crypto industry.
Bitcoin and Altcoins Reaction
With regulatory clarity on the horizon, experts foresee a reduction in lawsuits from the SEC not involving fraudulent activities, leading to a possible recovery for BTC towards $98,000. Analysts like Scott Melker believe a recovery phase is imminent.
A New Hope for the Crypto Market
The potential for a revitalized crypto market hinges on the new administration’s stance, which might foster an environment conducive for growth and investment in digital currencies.
As the world watches, the cryptocurrency community hopes for a fresh start that could significantly reshape the industry landscape.
