Dear Friends,
The year 2024 is about to end in 3 days.
There has been various interesting news, incidents and developments happened in the crypto market this year.
Let's rewind this and chew into our memories.
Based on the experiences that we had, hope these experiences will help us in our future.
The major development to the crypto world is the approval of the BTC ETF approval by SEC. As widely expected across the global, the SEC chair approved in January this year which is a major milestone development in the history of crypto. Followed to this ETH ETF was also approved. This paved the way for the institutional investors to come in to the crypto market largely without taking the direct positions of BTC & ETF.
The much awaited BTC halving happened this year. It has reduced the block reward from 6.25 BTC to 3.125 BTC.
We all know that the collapse of FTX took the blood bath in the crypto market last year. The former CEO of FTX Sam Bankman-Fried sentenced for his conviction of fraud and mismanagement practices in the exchange.
The Binance founder Changpeng Zhao, CZ has also sentenced to four months in prison for violations of the Bank Secrecy Act in US during his time at the Binance crypto exchange this year as well.
What made more interesting is that the US Presidential Elections happened in November 2024. While Trump has had a tough stand in his earlier term has made a complete U turn to support crypto projects. In his Presidential campaign, he spoke in favour of the cryptos, fund raised through cryptos, released his own NFT etc., In top of this his key note address in the Bitcoin Conference 2024 made everyone happy. He openly supported Bitcoin and his wish to transform US into a crypto hub.
These speeches after his elected news contributed the market to make a pump.
His swearing in ceremony in 20 Jan is also expected to have a significant pump in the market after this vacations.
With all these contributed BTC to cross 100K landmark price for the first time in history which gave a wider cheer in the market during this December 2024.
There were many hacks that also hacked during this year. The major are said to be with WazirX, the largest Crypto Exchange in India and the Japanese Crypto Exchange DMM Bitcoin. These made them to shut down their operations as well.
With the wider adoptions of these crypto products, favourable policies, continue to grab high inflow into the crypto markets as investments are the major factors for the cryptos in 2024.
With this we are looking 2025 a year of cryptos again.
As many have predicted that 2025 a good year and it would take peak in the end of 2025 as well.
Let's hope the best and stay invested for the potential returns!
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