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What fuelled the 2024 Bitcoin rally?

What fuelled the 2024 Bitcoin rally?

GrafaGrafa2024/12/19 05:50
By:David Martin

Bitcoin has roared back to life in 2024, leaving many stunned. This rally isn't just a flash in the pan – it's a confluence of forces propelling the cryptocurrency into the mainstream.

Wall Street's Embrace: The biggest game-changer? Institutional investors, from hedge funds to pension giants, are piling in. They see Bitcoin as a hedge against inflation and a potential safe haven in turbulent times. This influx of capital has injected serious buying power into the market.

DeFi's Explosive Growth: The rise of decentralised finance (DeFi) built on the Bitcoin blockchain has ignited a new wave of excitement. Investors are flocking to this burgeoning sector, unlocking new avenues for growth and innovation.

Regulation and Clarity: Gone are the days of regulatory uncertainty. Governments worldwide are grappling with crypto, leading to clearer frameworks and a more stable playing field. This newfound certainty has boosted investor confidence and encouraged greater participation.

Technology's Edge: Bitcoin's underlying technology continues to evolve. The Lightning Network, for example, enhances transaction speed and efficiency, making Bitcoin more user-friendly and accessible for everyday use. This ongoing innovation is fueling the rally and attracting a wider range of investors.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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