Bitcoin’s 120% Success, Memes, and Trump – Cryptocurrency’s Epic Year in Five Kaiku Charts – DL News

What a year.

From the emergence of Bitcoin exchange-traded funds, to the explosion of memecoins, to the top cryptocurrency rising to $100,000, investors have played out a number of bullish scenarios in 2024.

In 10 graphs Caico analysts The highlights of this “huge year” were marked.

Here are our top five picks:

Bitcoin reaches $100,000

Caico said the launch of spot bitcoin ETFs signals the instrument’s evolution into a premier asset with significant room for further growth.

Bitcoin ETFs now hold over $105 billion worth of Bitcoin on behalf of clients.

The original concludes in 2024 with $106,000 All-time high and prices rise by 120%.

Encryption elections

Cryptocurrencies became a force in the 2024 election cycle, which resulted in the victory of pro-crypto Donald Trump.

“Never before has Bitcoin or a digital asset received such attention on the global stage – at least not such positive attention,” Caico analysts said.

The so-called Trump trade prompted investors to do so To pour Billions of dollars are in the market ahead of the election, most of them betting at all-time highs on the financial derivatives exchange Deribit.

Bitcoin soared to record highs of $75,000 just days after Trump’s election, and the upward momentum hasn’t stopped.

Ethereum is moving

Caico expects 2025 to be positive for Ether, the second most valuable cryptocurrency.

“ETH is set to be one of the biggest winners from the regime change in Washington, D.C.,” the analysts said.

The company believes that clarity on its classification – whether it is a commodity or a security – will stimulate growth in the coming year.

While many investors were increasingly wary of Ethereum, especially after the Ethereum-to-Bitcoin ratio hit a yearly low, the cryptocurrency stabilized and rose after the election.

In the past 30 days, Ethereum ETFs have recorded only three days of outflows, According to To Quinglass. Meanwhile, investors pumped in more than $12 billion.

Saylor Bitcoin Flex

For years, Michael Saylor’s decision to load MicroStrategy’s treasury with billions of dollars in Bitcoin was a high-risk bet.

With Bitcoin rising to all-time highs this year, the CEO’s unconventional approach has paid off handsomely.

“For now, the strategy has worked,” analysts at Caico said. The company now owns more than 444,000 bitcoins, or $42 billion.

However, MicroStrategy Skeptics Continuing to express concern about the software company hoarding Bitcoin.

Next year, shareholder activists are expected to pressure other listed US companies to invest in Bitcoin despite Microsoft shareholders being fully vested. unacceptable Idea this month.

Memecoin mania

Memecoins started out as a family-friendly fad, with PEANUT the squirrel and DogWifHat attracting investors with what seemed like marginal financial gains.

Pump.Funa platform that allows anyone to mine memecoin, is one of the most popular projects in 2024.

But the memecoin craze soon took too long evil role. Traders created icons that were racially charged and extremist content like some forged Their death.

More to come in 2025

Taken together, these five charts chronicle a rally that looks different from previous bullish waves, Caico analysts say.

However, cryptocurrencies remain a volatile asset that routinely frustrates expectations. As 2025 approaches, investors will undoubtedly see more surprises.

Pedro Solimano is a markets correspondent based in Buenos Aires. Got a tip? Send him an email at psolimano@dlnews.com.