Bitcoin‘s current price trends and the evolving U.S. regulatory landscape for cryptocurrency were key topics in a conversation between Scott Melker, host of The Wolf of All Streets, and David Packham, CEO of Chintai. Despite Bitcoin holding above $60,000, the two discussed how political shifts and U.S. Securities and Exchange Commission (SEC) policies could shape the market in the months ahead.
David Packham expressed some disappointment with Bitcoin’s recent performance, stating, “Bitcoin price has been somewhat disappointing compared to expectations for October.” However, he remains optimistic, noting the SEC’s recent recognition of regulatory missteps, which could indicate future policy shifts. He added, “We’ve even seen a softening of the approach towards crypto from Kamala Harris.”
Scott Melker agreed, highlighting SEC Commissioner Mark Uyeda’s critique of the agency’s leadership, saying, “Uyeda… effectively admitted that the SEC’s tact is wrong.” He also pointed to increasing resistance from the crypto sector, mentioning the Wells notice sent to Crypto.com. “There’s no fear in the crypto industry anymore of the SEC,” Melker remarked, emphasizing the industry’s growing resilience.
Packham supported this view, saying, “Crypto is not this tiny little industry they can push around anymore.” He predicted a shift in the SEC’s approach, even hinting at potential changes in the agency’s leadership. “I think the SEC’s behavior like this is coming to an end,” he suggested.
Melker also highlighted growing institutional adoption, noting that 50% of traditional hedge funds now have exposure to crypto. “We have effectively endless tailwinds… maybe people should just be patient and wait,” he said, suggesting that institutional involvement could fuel future growth.
Both Melker and Packham concluded on an optimistic note, agreeing that while the future remains uncertain, Bitcoin could experience significant gains as regulatory clarity improves. Packham summarized the outlook: “It does point towards potentially many multiples higher in this cycle,” with both speakers stressing the importance of patience as the market evolves.
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