To The Moon

Hello Tigers!

After enjoying the joyful Christmas holiday, we are also about to bid farewell to 2024 and welcome 2025.

2024 has been a milestone year for the cryptocurrency industry. Today, let's review some of the significant events in the cryptocurrency market in 2024 that are worth remembering, and let's see the market's views on whether Bitcoin and cryptocurrencies can continue to shine in 2025. [Evil]

Looking back on Bitcoin's journey in 2024!

In 2024, the cryptocurrency industry experienced several important events, including the listing of $Bitcoin(BTC.USD.CC)$ and $Ethereum(ETH.USD.CC)$ spot ETFs, Bitcoin halving, the Federal Reserve's interest rate cut cycle, and the first "crypto president" in U.S. history. Crypto Tiger will sort these out for everyone according to the timeline, so let's take a look together:

Major events and price trends of Bitcoin in 2024, Source: CoinMetrics

1. Bitcoin Spot ETF Approved for Listing

On the early morning of January 11, 2024, the U.S. SEC officially approved the listing of 11 Bitcoin spot ETFs, including funds from BlackRock, Fidelity, Grayscale, and others, marking the beginning of a new round of the cryptocurrency bull market. Subsequently, the price of Bitcoin hit a historical high of $73,000. In April 2024, Hong Kong also launched the first spot Bitcoin and Ethereum ETFs in Asia, and in May, the U.S. SEC also approved the trading of Ethereum spot ETFs;

2. Bitcoin "Halving"

In April 2024, Bitcoin welcomed its fourth halving, with the reward for miners decreasing from 6.25 Bitcoin per block to 3.125, increasing the difficulty of Bitcoin mining once again;

3. The Federal Reserve Starts the Interest Rate Cut Cycle

On September 19, 2024, the Federal Reserve announced a rate cut of 50 basis points, lowering the target range for the federal funds rate to between 4.75% and 5.00%. This was the first time the Federal Reserve had started an interest rate cut cycle since March 2020, and Bitcoin returned to the $60,000 mark;

4. The White House Welcomes the First "Crypto President" in History

In November 2024, Donald Trump successfully won the 2024 U.S. presidential election, becoming the first "crypto president" in the history of the White House. This news also directly ignited the market for Bitcoin and cryptocurrencies, with the price of Bitcoin once breaking through to a new high of $75,000;

5. Bitcoin Breaks the $100,000 Milestone

On December 5, 2024, Bitcoin broke the $100,000 milestone, mainly thanks to the continued increase in positions by major Bitcoin holder MSTR and continuous positive news releases by Trump, including the nomination of Paul Atkins as SEC Chairman and the resignation of the current SEC Chairman Gary Gensler.

Analysts are bullish on cryptocurrencies for 2025

Overall, the cryptocurrency industry has experienced a variety of changes, turmoil, and future challenges, including new highs for Bitcoin, the launch of Bitcoin and Ethereum spot ETFs, the U.S. elections, and the Federal Reserve's interest rate cut cycle. These have not only set the tone for this year, but the market and investors are also beginning to look forward to the performance in 2025 and beyond. [Happy]

Last Friday, Citi analysts mentioned in a report that the total market value of cryptocurrencies has grown by more than 90% this year. Looking ahead to 2025, factors such as the continuous inflow of funds into spot ETFs, the allocation proportion of cryptocurrencies in investment portfolios, and relaxed regulations will all determine the price trends of cryptocurrencies.

Currently, the asset management scale (AUM) of the 11 Bitcoin spot ETF issuers has exceeded $100 billion, and these ETFs hold more than 1.2 million Bitcoins, accounting for about 6% of the current supply. [Miser]

BTC ETF inflow trend after approval, Source: CoinMetrics

Not only Citi, many big banks and analysts are optimistic about the future of the cryptocurrency industry:

• Matrixport is optimistic about the market in 2025 and expects Bitcoin prices to rise steadily;

• Bernstein believes that the Bitcoin price cycle will follow the pattern of rising after the 4-year block reward halving, and is expected to reach a cycle high of $200,000 at the end of 2025;

• Bitwise believes that with the continued inflow of funds into Bitcoin ETFs, clearer supervision, and continuous increase in holdings by companies and national governments, Bitcoin is expected to exceed $200,000 in 2025;

• Tom Lee, an analyst at Fundstrat Global Advisors, believes that if the US government includes Bitcoin in its strategic reserves, and based on past halving cycles, Bitcoin is expected to rise to $250,000 next year.

Source:SLEX

Hello Tigers, what do you think of cryptocurrencies in 2024?

Do you think Bitcoin and cryptocurrencies will continue to shine in 2025?

What are your investment plans? [Doubt]

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