2024 has witnessed many fluctuations and significant changes in the cryptocurrency market, particularly with Bitcoin and altcoins. Let's take a look back at the highlights and trends that could shape the future of crypto in the coming time.
Bitcoin: Steadily holding the top position
Over the past year, Bitcoin has established its position not only as a means of payment but also as a store of value, especially as large investment funds and top global companies decide to allocate a certain percentage of their investment portfolios to this cryptocurrency.
Recently, news about Bitcoin becoming a national reserve asset in some countries has sparked widespread interest from the traditional financial market. Additionally, new policies from major countries like the US are expected to support and promote the development of Bitcoin. Predictions that the price of Bitcoin could reach between $500,000 and $1 million by the end of 2025 are becoming increasingly feasible.
Altcoin: Diversity and development
Not only Bitcoin, but altcoins are also making significant progress. 2024 is the year where quality altcoins with real-world applications and strong community support will showcase their capabilities. Ethereum continues to be the 'giant' with the rapid development of smart contracts and DeFi (decentralized finance) applications. Binance Coin (BNB), Cardano (ADA), and Solana (SOL) are also showing strength as more and more new projects choose their platforms for development.
Insights from experts
According to experts, allocating 1% to 2% of an investment portfolio to cryptocurrency is considered a wise decision in the current context. However, great opportunities always come with risks, and investors should be cautious and listen to the market to make reasonable decisions.
Technological moves and regulatory frameworks
Blockchain technology continues to improve, providing security and efficiency for the crypto ecosystem. At the same time, regulatory bodies around the world are gradually introducing new policies to regulate this still relatively 'novel' market. This could lead to changes in the approach and investment in crypto.
In summary, 2024 is the year of convergence between technology, finance, and cryptocurrency, opening up many great opportunities for both Bitcoin, altcoins, and the entire crypto market in general. Investors need to be sharp and flexible to seize and leverage these opportunities, aiming for a promising future with cryptocurrency.
