As a researcher who has been closely monitoring the cryptocurrency market since its inception, I can confidently say that the recent events have ignited a spark of optimism and anticipation among crypto enthusiasts like never before. The past 11 months, particularly November, have been a rollercoaster ride for Bitcoin and altcoins alike, with new all-time highs being reached almost every other day.
Over the past few days, there’s been a surge in the cryptocurrency market, fueled by the buzz surrounding the Spot ETF and Donald Trump’s victory in the US election. Previously predicted to be a strong year for bulls in 2024, this forecast seems to be partially realized. In fact, Bitcoin has seen growth for eight out of eleven months this year, with particularly significant increases in November.
Bitcoin reached a new all-time high at $93,000 and continues to trade above $90,000. Many other cryptocurrencies also experienced significant gains, with some even hitting new highs. As we approach the end of the year, there’s growing anticipation about what lies ahead for the crypto market in the New Year.
Better Cryptocurrency Market Regulation
From the start of this year, investors have primarily been interested in the outcome of the U.S. election and how it might influence the cryptocurrency market. Compared to Kamala Harris, Donald Trump seems to favor more crypto-friendly policies, proposing improved regulation for the industry. Conversely, Harris has also recognized the significance of the crypto sector and has vowed to foster its growth.
Nevertheless, Trump referring to himself as the “Bitcoin president” and launching a cryptocurrency venture, coupled with his pledges to dismiss Gary Gensler, led to his victory in the votes. Intriguingly, Trump’s win translated into a triumph for cryptocurrencies, as the market experienced a surge following the announcement of the results.
Essentially, there’s growing excitement about potential crypto regulations due to Trump supporting pro-crypto candidates for higher offices. Many experts and crypto leaders emphasize the significance of clear guidelines for the industry, arguing they could foster growth instead of imposing restrictions. Notably, some are advocating that Gary Gensler stepping down as SEC Chair could initiate this regulatory shift.
Remember:
Cycles repeat.
There’s more liquidity in the system now than in 2017.
More institutions are involved.
More partnerships exist.
More crypto regulations are taking shape.
And yet, without any of these, XRP still outperformed BTC and ETH in 2017.
Documented. …
— SMQKE (@SMQKEDQG) November 16, 2024
By January when Trump takes office, it’s probable that the establishment of a regulatory structure will occur around the year 2025.
Increased Crypto Adoption
The governments of El Salvador and Bhutan are drawing attention due to their Bitcoin investments, as they have embraced this digital currency in pursuit of greater financial independence. According to data from Arkham, Bhutan has over a billion dollars worth of Bitcoin, which amounts to approximately one-third of the country’s total Gross Domestic Product (GDP), showcasing the extent of their adoption. Notably, the Bhutanese government sold $33 million in Bitcoin through Binance when the price peaked at a new all-time high, generating substantial profits on their initial investment.
Contrarily, El Salvador began acquiring Bitcoin in 2021 as part of their comprehensive adoption strategy. Today, they possess over 6000 BTC, which translates into billions of dollars. This move could potentially inspire other nations, such as the United States, to follow suit, given that top officials are contemplating the creation of a strategic Bitcoin reserve and amassing more than a million Bitcoins in the near future. Notably, Senator Cynthia Lummis has emerged as a key proponent, suggesting the sale of Federal Reserve gold for the purchase of Bitcoin.
It’s possible that China could lift its ban on cryptocurrencies, as there are signs pointing in that direction, especially since Trump is looking to bolster the US economy using cryptocurrencies. Meanwhile, it’s being whispered that countries such as UAE, Saudi Arabia, and others might invest in Bitcoin for their national funds. Consequently, we might see many nations enhancing their economies with cryptocurrencies by 2025, which could significantly boost the crypto market.
Introduction of Better Cryptocurrencies
Thousands of new cryptocurrencies enter the market every year with unique functionalities and profit potential. 2024 was the year of meme-themed cryptocurrencies, where many popular memecoins entertained investors with their new gains. With that, the cryptocurrency market is now worth $3.04 Trillion in market capitalization and $191.9B in trading volume. With the constant development of the industry and new token introductions, the crypto market cap is to grow past $4 trillion in 2025.
More Spot ETF Introduction In Cryptocurrency Market
It’s possible that we could see numerous ETF approvals for cryptocurrencies like Solana, XRP, and others over the next few years, following the approval of Bitcoin and Ethereum Spot ETFs. In fact, many companies have already filed applications, with more expected to follow throughout the year. Nate Geraci, CEO of the ETF Institute, even predicted a surge in spot crypto ETF filings in November alone, as suggested in his recent tweet.
Prediction…
There will be several spot crypto ETF filings this week.
Assume multiple issuers were highly prepared for election results.
No downside to getting aggressive now.
— Nate Geraci (@NateGeraci) November 11, 2024
The demand for exchange-traded funds (ETFs) tied to Bitcoin (BTC) and Ethereum (ETH) has skyrocketed among investors. Notably, the market value of the Bitcoin ETF stands at a whopping $98.66 billion, paving the way for potential approval of more well-liked crypto ETFs. Interestingly, VanEck predicts that Solana could potentially outshine others in this space.
Cryptocurrency Market Bull Run
2025 marks a significant milestone known as Bull Run, when various cryptocurrencies are expected to reach their peak values. The upcoming Bitcoin halving in April 2024 is creating anticipation for this bullish phase, which typically follows the halving event within several months. Given historical trends and the current market’s optimistic outlook, experts predict that the Bull Run will occur between early and mid-2025, representing a major turning point in the cryptocurrency market. This event could lead to a series of continuous gains for investors, new highs for cryptos, and an overall expansion of the crypto economy.
A thriving cryptocurrency market is now more predictable than ever, particularly following Trump’s election victory. Improved regulation, wider adoption, and growing interest in the crypto sector make 2025 a significant year to watch. However, it’s crucial to acknowledge that market volatility and broader economic trends could potentially alter the timing of these cryptocurrency events.
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2024-11-17 03:42