#市场反弹迹象
Recent signs of a rebound in the cryptocurrency market are evident, here are some related views:
Market Status
In 2024, the price of Bitcoin surged from around $40,000 at the beginning of the year to $100,000, driving the overall rebound of the cryptocurrency market. At the same time, other cryptocurrencies like Ethereum also saw varying degrees of increase, such as the Fidelity Ethereum Fund which rose 3.09% on December 24 compared to the previous day.
Reasons for the Rebound
• Institutional Entry: The U.S. approved Bitcoin spot ETFs, opening the floodgates for institutional investors, leading to a significant influx of capital into the market, pushing the price of Bitcoin up over 50% in the first quarter of this year, successfully breaking through $70,000.
• Halving Mechanism: Bitcoin completed its fourth halving at the end of April 2024, reducing the mining reward to 3.125 Bitcoins per block. According to supply and demand dynamics, this has driven its price up to some extent.
• Favorable Policies: After Donald Trump was elected President of the United States, his supportive stance on cryptocurrencies, along with the appointment of several leaders who back cryptocurrencies to key positions, injected new momentum into the crypto market, with expectations that anti-crypto policies will come to an end.
• Enhanced Asset Properties: Cryptocurrencies like Bitcoin are gradually being seen as “digital gold,” and their characteristics such as scarcity, decentralization, high liquidity, and low correlation have made them an emerging asset class, gaining attention and favor from investors.
• Increased Social Acceptance: Major global financial institutions and tech giants are increasingly entering the cryptocurrency space, with corporate giants beginning to accept virtual currency payments or engaging in blockchain technology development. Investment institutions are also ramping up their investments in blockchain projects, enhancing the social awareness and trust in cryptocurrencies.
