Bitcoin Surges Over 100% in 2024; Analysts Predict Continued Growth to $200K in 2025

Economy

1 year ago

News sources:

Credited from: SCMP

Bitcoin experienced a significant increase in value, more than doubling in 2024, primarily due to the US market regulator’s approval of ETFs linked to its spot price.
The cryptocurrency reached a milestone of US$100,000 in December, invigorating its supporters and boosting the market's overall sentiment.
Analysts forecast additional gains, projecting a peak of US$200,000 by late 2025, with several companies like MicroStrategy heavily investing in bitcoin.
This 2024 rally was further supported by political developments, including Donald Trump's electoral success, aiming to position the US as a leader in the crypto sector.
While some firms thrived, others struggled, as crypto miners faced increased costs, causing declines in their stock value.

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