With the excitement and enthusiasm surrounding the Spot ETF and Donald Trump’s victory in the US elections, the cryptocurrency market has seen a real boom in recent days. After a slow 2023, 2024 was supposed to be the year of the bulls, which came true to some extent. In these 11 months, eight months were positive in terms of Bitcoin growth, notably in November.
BTC created an ATH at $93,000 and is still trading above $9,000. Many altcoins also saw similar gains, and many even reached new ATHs. However, there are only a few days left for the end of this year and the start of another, creating another level of excitement about what could happen next for the crypto market.
Better regulation of the cryptocurrency market
Since the start of the year, all investors have been focused on the results of the US elections and their impact on the cryptocurrency market. Between Donald Trump and Kamala Harris, Trump has more crypto-friendly approaches, promising better crypto regulation. On the other hand, her biggest competitor, Kamala Harris, also recognized the industry and promised to work towards its development.
However, with Trump calling himself the Bitcoin president, launching a crypto company, promising to fire Gary Gensler and other promises, the votes were in his favor. Interestingly, Donald Trump’s victory has become crypto’s victory, with the cryptocurrency market turning bullish since the results were declared.
More importantly, Trump is rounding up pro-crypto candidates for higher positions, so anticipation is high for upcoming crypto regulations. Many crypto analysts and leaders have highlighted the need for clear rules and regulations for the sector, which could help the sector instead of restricting it. More importantly, many insisted that it begin with the resignation of Gary Gensler as SEC chairman.
Remember:
The cycles repeat themselves. ✅
There is more liquidity in the system today than in 2017.
More institutions are involved.
There are more partnerships.
More and more crypto regulations are taking shape.
And yet, without any of these elements, XRP still outperformed BTC and ETH in 2017.
Documented. 📝🔑… pic.twitter.com/rONIJRIGhl
-SMQKE (@SMQKEDQG) November 16, 2024
Ultimately, with Trump’s inauguration scheduled for January, the formation of a regulatory framework is expected to take place in 2025.
Increased adoption of crypto
The governments of El Salvador and Bhutan are in the spotlight for their Bitcoin holdings, as they have openly welcomed this crypto to gain more financial freedom. According to data from Arkham, Bhutan has over $1 billion in Bitcoin holdings. More importantly, it accounts for a third of the country’s gross domestic product, which explains the scale of BTC adoption. Based on this, the Bhutan government sold $33 million worth of BTC through Binance when the Bitcoin price surged to the new ATH and made significant profits on its initial investment.
On the other hand, El Salvador has been purchasing BTC since 2021 as part of its Bitcoin adoption plan. El Salvador now owns over 6,000 BTC, which is now worth billions. With this, many other countries may soon follow, including the United States, as top officials discuss creating a strategic Bitcoin reserve and collecting over a million Bitcoins over the next few years. years. In this, Senator Cynthia Lummis is the biggest supporter and has proposed selling Federal Reserve gold to buy BTC.
There are also positive indications that China could lift its crypto ban, particularly if Trump plans to strengthen the United States with crypto. Meanwhile, other countries like the UAE, Saudi Arabia and others are reportedly buying Bitcoin for their sovereign wealth funds. So, in 2025, many countries will strengthen their economies with cryptocurrencies, thereby boosting the cryptocurrency market.
Introduction of better cryptocurrencies
Thousands of new cryptocurrencies hit the market every year with unique features and profit potential. 2024 was the year of meme-themed cryptocurrencies, where many popular memecoins entertained investors with their new gains. With this, the cryptocurrency market is now worth $3.04 trillion in market capitalization and $191.9 billion in trading volume. With the constant development of the industry and the introduction of new tokens, the crypto market capitalization is expected to exceed $4 trillion in 2025.
More Spot ETF Introduction to Cryptocurrency Market
After Bitcoin and Ethereum Spot ETF, the market may see many more ETF approvals in the coming years. Many companies have already applied for Solana, XRP, and other ETFs shortly after the Ethereum ETF was approved, with more expected throughout the year. Nate Geraci, CEO of the ETF Institute, also talked about the same thing in a recent tweet, anticipating the many one-time crypto ETF filings in November alone.
Prediction…
There will be several crypto ETF spot deposits this week.
XRP, SOL, ADA, etc.
Let’s assume that several issuers were fully prepared for the election results.
No harm in getting aggressive now.
-Nate Geraci (@NateGeraci) November 11, 2024
BTC and ETH ETFs have gained popularity among investors. Here, the Bitcoin ETF gained $98.66 billion in market capitalization alone, opening up the possibility of other popular crypto ETFs being approved. Interestingly, Solana will likely take the lead, VanEck says.
Cryptocurrency market bull run
2025 is the year of the Bull Run, where all cryptocurrencies will reach their peak. With Bitcoin halving in April 2024, crypto users are now waiting for this bullish period, which usually comes months after the halving event. Considering historical trends and the current bullish behavior of the market, analysts predict that the rise will occur in early to mid-2025, making it the most significant event in the cryptocurrency market. This would completely change the market, where continuous gains would line investors’ pockets, cryptos would reach new highs, and the market economy would grow.
A cryptocurrency bull market is much more certain than before, especially with Trump’s victory. With better crypto regulation, increased adoption, and growing demand from the crypto industry, 2025 will be an important year. However, it is also important to understand that market fluctuations and macroeconomic factors could change the timeline of these crypto events.
Pooja Khardia
With a deep-rooted passion for reading and five years of experience in content writing, Pooja is now focused on creating trending content in the cryptocurrency market. As a dedicated crypto journalist, Pooja is constantly on the lookout for trending topics and informative statistics to create compelling articles for crypto enthusiasts. Keeping up with the latest trends and advances in the field is an integral part of his daily routine, fueling his commitment to providing timely and insightful coverage.
Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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