The cryptocurrency market experienced a significant surge in 2024, fueled by the approval of Bitcoin and Ethereum ETFs in the U.S. and the introduction of several cryptocurrencies, including Bitcoin, reaching new record highs. Bitcoin's price soared to a record high of $108,268 on December 17th, marking a 145% increase year-to-date. Other cryptocurrencies like Solana, BNB, and PEPE also followed suit, achieving new all-time highs.
This rally in Bitcoin and other cryptocurrencies led to a surge in demand for Tether's USDT stablecoin, pegged to the dollar. Tether's market valuation increased by approximately $50 billion this year, exceeding $140 billion. Notably, became the first Bitcoin holding company to enter the Nasdaq-100, aiming to raise $42 billion in capital over the next three years to acquire more Bitcoin.Looking ahead to 2025, the cryptocurrency market is poised for continued growth, driven by the momentum established in 2024. Bitcoin's halving rally and ETF approvals are expected to contribute to this growth. Optimistic projections suggest a 154% increase in Bitcoin's value, potentially reaching $250,000. Fundstrat's Tom Lee is highly bullish on Bitcoin for the next year, anticipating a similar price increase to $250,000
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