What fuelled the 2024 Bitcoin rally?
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.
