The 2024 – and, hopefully, the 2025 – cryptocurrency bull market is appearing increasingly likely to, along with Bitcoin's (BTC) stellar performance, bring back another development from 2021: Tesla's (NASDAQ: TSLA) acceptance of BTC payments.
Now that Bitcoin (BTC 1.33%) has broken through the $100,000 price level, it's understandable why many investors are wondering just how much higher the world's most popular cryptocurrency can go. Bitcoin is now up about 115% for the year and about 500% during the past two years.
Bitcoin's (BTC 4.16%) price hit an all-time high of $103,332 on Dec. 4. Four main catalysts drove it to that point: the approvals of its first spot price ETFs in January; its latest halving in April, which cuts its rewards for mining in half every four years; interest rate cuts; and President-elect Trump's crypto-friendly policies.
The S&P 500 (^GSPC 1.09%) market index has seen a total return of 25% in 2024. That's a fantastic year for the stock market, but it can't hold a candle to the crypto market.
Friday's rebound rally didn't fully reverse all the selling from the Fed's rate cut outlook announcement. The committee voted to cut another 25BPS but curbed the rate of cuts it originally projected for 2025.
TORONTO, ON / ACCESSWIRE / December 20, 2024 / Quantum BioPharma Ltd. (NASDAQ:QNTM)(CSE:QNTM)(FRA:0K91) ("Quantum BioPharma" or the "Company"), is pleased to announce that after receiving approval from the Board of Directors, the Company has purchased USD $1,000,000 Bitcoin (BTC) and other cryptocurrencies as part of its strategic efforts.
Tom Lee is the head of research at Fundstrat Global Advisors. He correctly anticipated the stock market rally that lifted the S&P 500 out of bear market territory last year.
2024 is on track to be one of the best years in modern history for the stock market, and two of the most popular investments are a big reason why.
Cathie Wood, the maverick investor and chief of Ark Invest, isn't known for being shy. Her career has been marked by making bold moves and bolder statements.
1 Top Cryptocurrency to Buy Before It Soars 157%, According to Billionaire Venture Capitalist Tim Draper
The price of Bitcoin (BTC -6.26%) is now up more than 110% for the year and on the cusp of breaking through the $100,000 mark, so it's perhaps no surprise that top hedge fund investors are looking for ways to add this soaring cryptocurrency to their portfolios. Among them is billionaire hedge-fund manager Paul Tudor Jones.
MSTX, a leveraged ETF tied to MicroStrategy and Bitcoin, offers high potential returns but carries significant risk due to leverage and BTC volatility. Trump's pro-crypto stance and Bernstein's $200k BTC forecast support a bullish outlook for MSTX, despite inherent risks. MSTX's leveraged returns align with its goal, but volatility decay and non-diversification elevate risks, making it suitable for momentum traders.