Bitcoin rose 2% to $96,711.71 on Thursday, fueled by optimism surrounding a more favorable regulatory environment and potential legislative developments in the cryptocurrency space. Investors anticipate the year to be positive for the crypto industry, with hopes for stablecoin-focused legislation and the opening of public equity markets for crypto.
rose 2% to $96,711.71 Thursday, bringing its new year gain to about 3% when counting trading from the Jan. 1 session.This year is expected to be a banner year for the crypto industry thanks to a more favorable regulatory environment promised by President-elect Donald Trump. Investors are hoping Congress will pass its first ever crypto focused legislation – which could be centered around stablecoins or market structure.
Crypto assets slid into the end of 2024. Although the post-election rally that sent bitcoin to new records above $100,000 had fizzled, the flagship cryptocurrency still ended the year up more than 120%. Long-term holders took some profits while others sold amid renewed uncertainty about the direction of Federal Reserve interest rate cuts in 2025.Crypto's political tailwinds in 2025 could push bitcoin to $200,000.
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