#BitcoinHashRateSurge

H suleiman 🤝🐯🧡:

2024 was a distinguished year for Bitcoin and cryptocurrencies in general, not only in terms of performance, but also in the change in the perception of these assets among many. The beginning of the year marked a new phase for Bitcoin, with the listing of 11 Bitcoin trading funds, the most important of which were BlackRock, Grayscale, and Fidelity, which attracted huge institutional investments. In April of the year, the Bitcoin halving occurred, which occurs every 4 years, which means that the rewards for mining the currency were halved, which led to a decline in supply.

In July, President-elect Donald Trump appeared to play a prominent role in promoting and supporting the price of Bitcoin by adopting the idea of ​​building a strategic reserve for the currency, supporting cryptocurrency companies, and expelling Gary Gensler, head of the US Securities and Exchange Commission, who is hostile to this sector, from his position.

Trump's victory for the presidency in November and his nomination of more than 13 people in the next US government, all of whom were supporters of cryptocurrencies, led to a jump in the price of Bitcoin from levels of $68,000 to exceed $108,000 in less than a month. Despite the significant rises in Bitcoin in 2024, which reached approximately 120%, most expectations for its price trend in 2025 remain positive. Standard Charter expects it to rise to $200,000 by the end of 2025.

As for the investment bank VanEck, it expects the price of Bitcoin to rise to levels of $180,000 at the beginning of the year before it declines.