In 2017, I witnessed a new coin soar from its launch price of 0.5 yuan to 10,000 yuan, and then the price plummeted back to 0.5 yuan within a few hours, causing many investors to lose a lot of money. Some people even used a loan of 1 million yuan to invest all their money, and finally lost everything. This bull market, although we have seen the craziness of the crypto market, the market in 2024 is different from the past. Since March, the price of Bitcoin has been consolidating tightly, and historically, this consolidation is usually a prelude to a big rise in October.

The promotion of institutions, the launch of Bitcoin spot ETFs, and the unquenchable meme coin craze have made the market hot. Especially meme coins, their performance this time is amazing. Retail investors have returned to the market, and the enthusiasm of the market has filled the air with excitement! Some analysts even predict that Bitcoin may soar to $290,000.

The turmoil in the global economy makes cryptocurrencies an ideal investment option, especially when other assets have lower returns. The domestic economic stimulus plan is injecting liquidity into the market. With billions of dollars flowing into spot cryptocurrency exchange-traded funds (ETFs) and a surge in blockchain network transactions, the cryptocurrency market has "dramatically" matured in 2024. In addition, the accelerated adoption of stablecoins and the surge in Ethereum layer-2 scaling solutions "reflect the maturation of the market and the expansion of the crypto economy." These factors all provide momentum for further growth in the cryptocurrency market.