According to Markus Thielen, founder of 10X Research, a significant shakeup might be on the horizon for the U.S. Securities and Exchange Commission (SEC). Thielen predicts that Gary Gensler, the current SEC Chair, is likely to resign within the first two months of 2025, following the conclusion of President Joe Biden’s term.
This forecast is based on historical trends where SEC Chairs often step down when a new administration takes over, particularly if Donald Trump returns to the White House.
Thielen’s analysis comes in the wake of Biden’s unexpected decision to exit the presidential race, which he interprets as a strong indicator of a Trump presidency. In this scenario, Gensler, who has faced criticism from Trump’s camp, particularly from his running mate J.D. Vance, may find his position untenable.
Vance has previously described Gensler as “the worst person” to regulate cryptocurrencies due to his perceived backward and politicized approach to crypto policy.
Amid these political speculations, Thielen has also highlighted optimistic forecasts for the crypto market. He cites potential bullish catalysts, notably rumors of Trump making a major announcement at the Bitcoin conference in Tennessee on July 25. There is speculation that Trump might declare Bitcoin a strategic reserve asset, which could spark a dramatic increase in Bitcoin’s value.
Thielen advises investors to hold off on taking profits or shorting Bitcoin before Trump’s anticipated speech. He suggests that Bitcoin’s previous all-time high of $68,300 might soon become a new baseline, predicting a “parabolic move” in the coming months. This optimism follows a period of intense volatility driven by external factors like forced selling by the German government and the Mt. Gox exchange collapse.
Analysts are now more confident that Bitcoin has navigated past its most challenging phase and the outlook for the crypto market remains promising.
As political and economic landscapes shift, all eyes will be on Bitcoin and its potential trajectory, with significant developments expected shortly.
Also Read: Biden Exit Offers Chance To Democrats To Gain Crypto Voters
