Now, bitcoin is at the doorstep of $100,000, just two years after dropping below $17,000 after the collapse of crypto exchange FTX. The dramatic rally arrives as industry players expect the incoming Trump administration to bring a more crypto-friendly approach to regulating the digital currency.

While bitcoin has been trading for the past several days at close to $100,000 — a level many crypto bulls consider as a milestone for the asset — it’s struggled to top that level.

The large-cap token has rallied since the election on the expectation that President-elect Donald Trump will slash crypto regulation.