2024 Bitcoin Market Review
From January 1, 2024, to now, the Bitcoin market has experienced a significant leap from $40,000 to $100,000, with dazzling performance. Two key points in the year are noteworthy: February-March and November-December.
February-March: Continuous Explosion, Market Soars
In February to March, Bitcoin welcomed a strong rise, with prices climbing to $70,000. The bullish forces strongly pushed the market up by $30,000. From the data, February saw an astonishing increase of 44%, becoming the best-performing month of the year.
April-May: Fluctuating Adjustment, Panic Drop from June to August
Entering April to May, the market gradually transitioned into a fluctuating adjustment period. From June to August, Bitcoin experienced severe volatility, and market panic escalated, with prices almost nearing the $40,000 threshold, raising concerns. However, it ultimately stabilized at $48,906, laying the foundation for the subsequent recovery.
September-October: Warm Recovery, Fluctuating Upward
Entering September to October, the Bitcoin market gradually warmed up, slowly rising amidst fluctuations. With the return of bullish confidence, the market began to gather strength, preparing for an end-of-year explosion.
November-December: Historic Moment of Breaking $100,000
In November, with Trump's victory in the U.S. presidential election, his friendly attitude and policy expectations towards cryptocurrencies injected strong momentum into the market, leading to a significant rise in Bitcoin prices. In December, Bitcoin finally broke through the historic threshold of $100,000, reaching a peak of $108,416. This increase not only brought market sentiment to a climax but also marked a new milestone for Bitcoin.
Annual Summary and Future Outlook
In 2024, Bitcoin's annual increase reached 150%, and the two key “$30,000” increases directly propelled prices past six figures, establishing its dominant position as a mainstream asset. In the global asset market capitalization rankings, Bitcoin successfully entered the top ten, ranking seventh. This achievement reflects the growing importance and recognition of cryptocurrencies in global assets. Bitcoin's scarcity and unique design suggest that its value potential is limitless in the future.
