#XmasCryptoMiracles Not even the most optimistic cryptocurrency optimists expected the Bitcoin market to be as buoyant as it was in 2024, especially after a year of investigations and arrests that included the heads of well-known cryptocurrency platforms.
By 129 percent, the price of a Bitcoin unit jumped from the beginning of 2024 until the beginning of trading on December 25, recording $98,000 per unit, but it is less than the historical peak on the 17th of the same month at $105,000.
In January 2024, the US Securities and Exchange Commission (SEC) approved the first Bitcoin ETFs, offered by major financial institutions such as BlackRock and Fidelity.
This approval was a pivotal moment, as it gave investors direct exposure to Bitcoin through regulated financial products. The introduction of these funds legitimized Bitcoin as an asset class, attracting a significant increase in interest from institutions and individual investors. In April 2024, Bitcoin underwent its fourth halving event, where the reward for cryptocurrency miners was reduced from 6.25 to 3.125 Bitcoin. In May 2024, the US House of Representatives passed the Financial Innovation Technology for the 21st Century Act (FIT21), aiming to create a comprehensive regulatory framework for digital assets. The re-election of Donald Trump as US President in November 2024 also led to a pro-crypto stance.
In early December 2024, Bitcoin achieved a historic achievement by crossing the $100,000 barrier. While on December 17, the currency recorded its highest historical level, at $105.3 thousand per unit, before correcting to $98.2 thousand in early trading on Wednesday.
Good luck to all traders on #BinanceTurns7