Former SEC Chair Set to Serve as AI Czar, Traders Predict BTC Could Reach $600,000

On October 5, according to Cointelegraph, Donald Trump is expected to appoint current U.S. Director of National Intelligence Jay Clayton as the new "AI Tsar." The appointment implies Clayton will oversee the U.S.'s AI innovation development and self-regulation among tech executives while retaining his intelligence director role. As the former SEC chairman, Clayton has been highly controversial for leading enforcement actions against the crypto market and representing the SEC in its lawsuit against Ripple.

Meanwhile, veteran trader Peter Brandt, who possesses over 40 years of experience in chart analysis, recently issued an optimistic forecast regarding Bitcoin's trajectory. He stated that if Bitcoin holds support at the June lows, the current new bull cycle could extend beyond the traditional four-year timeframe and run through late 2029. Under this scenario, Bitcoin's price could appreciate 3 to 5 times, targeting highs of $300,000 to $600,000.