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The yr 2024 was a landmark yr for crypto, with the approval of the Bitcoin spot ETFs within the U.S. and the following introduction of Ethereum ETFs, in addition to a number of cryptocurrencies, together with Bitcoin, reaching new document highs.
Bitcoin has been on a tear in 2024, up 145% yr thus far and reaching a document excessive of $108,268 on Dec. 17. Different cryptocurrencies, resembling Solana, BNB and PEPE, adopted go well with, reaching recent all-time highs.
As Bitcoin and plenty of different cryptocurrencies rose to new all-time highs, demand for Tether’s USDT stablecoin — pegged to the greenback — has skyrocketed. The token’s market valuation elevated by about $50 billion this yr, reaching greater than $140 billion.
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In a historic milestone, MicroStrategy has turn out to be the primary Bitcoin holding firm to enter the Nasdaq-100. The Bitcoin treasury firm intends to boost $42 billion in capital over the following three years via at-the-market inventory gross sales and convertible debt points to purchase extra Bitcoin.
Bitcoin to succeed in $250,000? Market predictions
The cryptocurrency market is ready for outstanding progress in 2025, fueled by 2024’s milestones, resembling Bitcoin’s halving rally and ETF approvals.
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Based on a current market prediction printed by CoinGecko, Bitcoin’s progress trajectory seems promising given 2024’s momentum and the anticipated key occasions of 2025. An optimistic projection sees Bitcoin skyrocketing 154% in worth, and on this situation, Bitcoin may attain a value of $250,000.
Different Bitcoin projections for 2025 embody Fundstrat’s Tom Lee, who may be very constructive about Bitcoin for subsequent yr. Based on Lee, Bitcoin may enhance in 2025 to succeed in $250,000. Bitcoin has two tailwinds heading into the brand new yr, one in all which is the cryptocurrency’s halving value cycle, which is commonly bullish for the worth of Bitcoin within the yr after a halving occasion.
Bitwise, a Bitcoin ETF producer, shares the identical upbeat outlook, predicting that 2025 might herald the beginning of crypto’s golden interval, given the historic yr of 2024. One of many ten forecasts made was that Bitcoin might commerce above $200,000.