TechFlow News, December 4 — QCP Capital's latest analysis reveals that established cryptocurrencies from 2021 have seen significant gains over the past two weeks. XRP has broken through its previous all-time high of $2 set in February 2021, surging 400% since November to reach $2.90. Over the same period, veteran projects such as ADA, HBAR, and XLM also recorded impressive increases of 300%, 800%, and 600% respectively, demonstrating strong momentum among traditional crypto assets.
This rally is primarily driven by two key factors: first, Trump’s proposal in November to eliminate capital gains tax on cryptocurrencies issued by U.S. corporations; second, the potential appointment of a pro-crypto cabinet. Notably, Howard Lutnick, current CEO of Cantor Fitzgerald, may be appointed as Commerce Secretary—his firm is currently engaged in partnership talks with Tether. Meanwhile, the SEC chair position could be filled by Paul Atkins, a known crypto supporter, replacing current chair Gary Gensler.
Although South Korea's martial law announcement briefly drove Bitcoin down to $93,500, the market's swift rebound highlights robust buying pressure. The report notes that despite inflation concerns reducing expectations for Fed rate cuts in 2025 to just three, and ongoing geopolitical risks posed by Trump’s stance toward China, Mexico, Canada, and BRICS nations, the crypto market remains poised for further upside.
Analysts believe that with the potential implementation of crypto-friendly policies under a Trump administration and continued inflows from institutional investors, Bitcoin surpassing $100,000 and Ethereum reaching new all-time highs are transitioning from dreams into realistic prospects. Investors are advised to monitor the market's strength and seize emerging opportunities.
