Bitcoin saw a significant rise in its value during 2024, crossing the $100,000 barrier for the first time since it began trading in 2009.
In November 2024, Bitcoin set a new record high by rising to $99,099.
In March 2024, it jumped to a new high above $72,000.
This exceptional performance boosted Bitcoin's market value to $1.31 trillion, cementing its position as a force to be reckoned with in the world of finance.
However, some experts are predicting possible declines in Bitcoin’s value during December 2024. According to “onchain options decentralized,” there is a 68% chance that Bitcoin will fall by 16% to $81,500, and a 20% chance that it will rise.
The value of Bitcoin is influenced by multiple factors, including changes in government policies, institutional recognition, technological developments, and increasing demand from investors.
For example, the announcement by the Chairman of the US Securities and Exchange Commission, Gary Gensler, that he intends to leave his position next January, has boosted confidence in the cryptocurrency market, which has contributed to the rise in the value of Bitcoin.
Additionally, Donald Trump's victory in the US presidential election played a role in increasing optimism among investors, as he pledged to make the United States the "world capital of Bitcoin and cryptocurrencies."
Despite these gains, investors should be cautious, given the high volatility of the cryptocurrency market.
Bitcoin remains vulnerable to global political and economic influences, making investing in it risky.
In conclusion, while Bitcoin has made significant gains in 2024, future forecasts suggest that its value could fluctuate.
Therefore, investors are advised to conduct extensive studies and understand the potential risks before making investment decisions in this field.
