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

share-iconPublished: Thursday, January 02 share-iconUpdated: Thursday, January 02 comment-icon11 months ago
News sources:
SCMP
Bitcoin Surges Over 100% in 2024; Analysts Predict Continued Growth to $200K in 2025

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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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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