### Bitcoin Surges as Trump’s Election Promises Regulatory Boost

Bitcoin and the broader cryptocurrency market have experienced a significant surge, with Bitcoin's price approaching the $100,000 mark following a recent dip earlier this week. This price movement comes after the election of Donald Trump as U.S. president, which has spurred a notable $15 trillion bet on Bitcoin's value.

Elon Musk has also lent subtle support to this market shift, further energizing Bitcoin enthusiasts who are now making bold predictions for the digital currency’s future. Ed Hindi, chief investment officer at Switzerland-based crypto hedge fund Tyr Capital, has projected Bitcoin to reach $250,000 by 2025. According to Hindi, Trump's victory serves as a critical regulatory endorsement that will deepen institutional investments in Bitcoin, Ethereum, and other leading decentralized finance (DeFi) cryptocurrencies.

Central to this optimism is Trump's stance on cryptocurrencies, which includes the promise to establish a Bitcoin strategic reserve and ease existing regulations that many in the industry find restrictive. Furthermore, Trump is considering appointing a pro-crypto figure to replace outgoing chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler. The potential appointment of Paul Atkins, a former pro-financial technology SEC commissioner, as the new SEC chair has already had a noticeable impact on market sentiment, as noted by Yuya Hasegawa, a crypto market analyst at Tokyo-based Bitbank.

The crypto market, particularly Ripple's XRP, has also seen considerable gains. XRP surged 13% this week amid speculation that Trump's new SEC pick could resolve Ripple's prolonged legal challenges, bringing its price up nearly 200% since the U.S. election in early November.

Historically, the U.S. Thanksgiving holiday has influenced Bitcoin's market behavior, often leading to temporary losses followed by substantial gains. Market participants observe what is called a "Thanksgiving anomaly," where Bitcoin's price dips during the holiday only to rally afterward. This year could follow a similar pattern considering the recent price corrections.

Despite the bullish trend, experts like Hindi predict continued volatility in the cryptocurrency market through the end of the year. He estimates Bitcoin's price will fluctuate between $75,000 and $120,000, driven by significant fear of missing out (FOMO) and profit-taking activities.

With Trump's policies driving Bitcoin and equities to unprecedented highs, some analysts caution that the current bullish sentiment might be over-extended, expecting profit-taking to increase as the year concludes.