PANews reported on January 23 that Deutsche Bank analyst Marion Labour said in a report that Bitcoin is likely to remain at a high level given that Trump will implement a more favorable regulatory and political environment. She said: "Although Trump did not sign an executive order on digital assets on the first day, the announcement on Tuesday that the SEC will develop a regulatory framework for crypto assets is the first step in his government's comprehensive reform of cryptocurrency regulation." She said that Bitcoin will also benefit from the Federal Reserve's loose monetary policy and may see an increase in institutional investors.