Jag Kooner, head of derivatives at cryptocurrency exchange Bitfinex, said that while it was difficult to predict the price of bitcoin, reaching the $100,000 target in a few months "doesn't seem too far-fetched", adding: "Given the bullish momentum and the fact that the economy has avoided recession, we expect limited downside for bitcoin right now. That [the $100,000 target] looks very reasonable." In addition, James Butterfill, head of research at CoinShares, also said that Bitcoin's rise to $100,000 - which means there is still 33% upside - is "now possible" because Trump's victory and the Republican takeover of the Senate could make it easier to promote "an expected relaxed regulatory framework", and that $100,000 Bitcoin "doesn't sound so unreasonable" because its market cap equals "just 10% of gold's market share". He believes that the main catalysts for Bitcoin's future are a change in SEC leadership, crypto-friendly regulation, and further adoption of cryptocurrencies by large companies. He added that another catalyst could be a rate cut by the Federal Reserve.