The year 2024 is very important for Bitcoin (BTC) and the entire cryptocurrency market, experiencing significant market fluctuations and key events:

Upward trend: At the beginning of the year, Bitcoin's price rose rapidly, breaking through $30,000 in March and surpassing the historical high of $72,000 in May. However, in mid-June, the market encountered a sharp decline, followed by a long adjustment period.

Halving event: In April, Bitcoin experienced a new halving event, but the market reaction was different from previous occasions, with the price trend after the halving not meeting expectations. The halving event was already priced in by the market, leading to positive news in March that pushed the price to a new high, but the subsequent trend did not continue to rise.

External influences: Political and economic events had a significant impact on the market. Trump's support for cryptocurrency policies and signals of interest rate cuts in the U.S. boosted the market at certain points, but these positive news often came with pullbacks. Geopolitical tensions also affected market sentiment.

ETF approval: In 2024, the BTC ETF was approved in the United States, seen as an important milestone that brought Bitcoin into a broader mainstream market.

Market sentiment and predictions: According to some predictions, Bitcoin may surpass $200,000 in 2024. The market generally expects cryptocurrencies to perform strongly in 2024, especially against the backdrop of easing macroeconomic headwinds and favorable expectations for the cryptocurrency market itself.

Overall market performance: Although Bitcoin rose by 131.83% within the year, it did not reach the previous year's growth rate. The market showed a pattern of initial suppression followed by recovery, with the overall market capitalization reaching a new high mid-year.

Ethereum (ETH) also reached a new high in 2024, receiving approval from U.S. regulators for its spot ETF. Additionally, other cryptocurrencies such as Solana (SOL) also experienced significant price growth.

Technological developments: The technological advancements in the cryptocurrency market in 2024 are also noteworthy, including new highs in network difficulty and an emphasis on data availability, all of which impacted the cryptocurrency ecosystem.

The cryptocurrency market in 2024 experienced a full cycle from a bull market to adjustments and then to new growth forecasts, influenced by many external factors and internal technological developments. Market participants witnessed the continued rise of Bitcoin and the maturation of the entire cryptocurrency ecosystem. #BTC☀