Matrixport believes that changes in the US Securities and Exchange Commission (SEC) guidelines will have a significant impact on the crypto market. For digital assets to be more widely accepted, 8% of the world's population needs to start using cryptocurrency in their everyday lives, the experts noted.

In their opinion, the general mood of market participants is positive, and possible political reforms play into the hands of cryptocurrencies.

“A proposal to approve digital gold as a strategic reserve asset would trigger a rally, with the US government being able to purchase up to 5% of the available supply,” the report said.

If this scenario is realized, Bitcoin will gain even greater legitimacy in the financial market, which will increase interest in the asset from institutions and governments, accelerate its popularization and push the price to new historical highs, experts suggest.

If the new White House administration supports the crypto market by creating transparent and liberal conditions for its activities, then it will prosper, analysts noted.

Earlier, investor and founder of Pomp Investments Anthony Pompliano said that Bitcoin has gained the status of the main tool for increasing financial stability among large corporations, including MicroStrategy, MetaPlanet and Semler Scientific.

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On November 6, Bitcoin (BTC) set price records three times in one day, closing the day above $76,000. This event caused a lot of excitement in the crypto market.

When BTC reached its latest peak, one user transferred 156,0801 BTC from an address that had not been active since it was created on July 29, 2017. At the time, Bitcoin was trading at $2,726, putting the value of the coins at $425,474. Today, those same 156 BTC are valued at a whopping $11.6 million.

Blockchair gave this transfer a privacy score of 50 out of 100, citing software limitations and the reuse of the same address in the input data.

In addition to the 2017 wallet, another dormant address created in 2013 came to life, bringing more than 100 bitcoins out of deep sleep. At block height 869,116, the user transferred 109.44 BTC, the first move since March 14, 2013.

The funds were sent in separate transactions, all of which were confirmed in a single block. The transfers received a low privacy rating, scoring 45 out of 100 on Blockchair. It is possible that the funds were moved from an outdated wallet to a new Pay-to-Script-Hash (P2SH) address.

As Bitcoin continues to rise in value, long-term holders will continue to re-evaluate their strategies against the backdrop of changing prices. They may even sell some of their coins, which, given the current shortage on the market, will immediately find a new owner.

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This is the second time this year that Bitcoin has set a record – the leading cryptocurrency previously hit an all-time high in March, reaching $73,777. This put an end to the “crypto winter” that had lasted for several years.

The new all-time high of $75,000 had a positive impact on the entire cryptocurrency market, triggering altcoins to rise: Ethereum rose by more than 6% in 24 hours to $2,596, Cardano jumped by 9% to $0.3618, and Solana rose by 15% to $188. Popular meme coins also showed significant growth: Dogecoin jumped by more than 30% to $0.21885, and Shiba Inu rose by more than 12%.

Bitcoin's impressive surge is due to investor enthusiasm ahead of the US presidential election. Early election results have crypto investors optimistic that former President Donald Trump could return to the White House. The Republican candidate has positioned himself as a crypto enthusiast, embracing digital assets for his political campaign.

To prove his commitment to the crypto industry, Trump has promised to fire SEC Chairman Gary Gensler, who has been criticized by crypto companies for his reluctance to provide them with clear rules for regulating cryptocurrencies. Trump has also set an ambitious goal by promising to create a national reserve in bitcoin. In May, Trump began accepting donations in cryptocurrencies, including BTC, ETH, DOGE, and SOL.

According to Bernstein forecasts, if Donald Trump wins, the Bitcoin rate could exceed $90,000, and if Kamala Harris becomes US president, the first cryptocurrency will collapse to $50,000.

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