(NLDO) - If we compare the price of Bitcoin in early 2024 with the historical peak in mid-December 2024, the value of this cryptocurrency has increased about 2.7 times.
At 12:02 a.m. on January 20, Eastern Time (0:02 a.m. on January 21, Vietnam Time), Donald Trump officially became the President of the United States. Accordingly, the price of Bitcoin in less than an hour increased sharply from 102,000 USD to more than 108,000 USD, then officially surpassed the 109,000 USD mark, establishing a historical high.
Still increasing momentum
Looking back at the whole year of 2024, Bitcoin has continuously set new peaks, pulling the cryptocurrency market up, but there have also been many unpredictable fluctuations that have made the cryptocurrency trading community "restless".
In early 2024, Bitcoin's price was only at $40,000, but by March 2024 it had set a peak at that time at more than $73,000, after spot ETFs were approved by the US.
By early November 2024, this cryptocurrency was constantly adjusted, at one point falling to the $54,000 mark but then returning close to its peak. In mid-November 2024, Bitcoin once again caused a stir when it skyrocketed, almost reaching the $100,000 mark and promising to "break the barrier" when there was "good news" from the market.
In mid-December 2024, when Donald Trump, a cryptocurrency supporter, won the race to the White House, the price of Bitcoin officially broke the $100,000 barrier, reaching more than $108,000 on December 17.
Compared to early 2024, Bitcoin's price at its peak in mid-December 2024 has increased about 2.7 times.
Along with the "hot" increase of Bitcoin, other Altcoins also "standing upright". For example, Ethereum (ETH) from the 2,200 USD area in early 2024, at one point increased to more than 4,000 USD/ETH. This second digital currency in the market is currently being strongly adjusted down to about 3,378 USD/ETH but still increased by 53% compared to the beginning of 2024. Similarly, BNB is currently priced at nearly 700 USD, an increase of more than 135% compared to the beginning of 2024; Solana (SOL) is priced at more than 260 USD/SOL, an increase of more than 200% in the past year.
According to Coindesk , German bank Deutsche Bank predicts that Bitcoin prices will be high in 2025. In the context of favorable regulations for cryptocurrencies in the US and the Federal Reserve's loose monetary policy, the cryptocurrency market is expected to receive more support.
Deutsche Bank analyst Marion Laboure believes that Donald Trump's support for cryptocurrencies will be key to the "golden" era of this currency.
According to Marion Laboure, although President Trump did not sign any executive orders related to cryptocurrencies on his first day in office, the announcement that the Securities and Exchange Commission (SEC) will develop a regulatory framework for digital assets was a driving force for the cryptocurrency market.
According to CNBC , cryptocurrency financial services company Matrixport predicts that Bitcoin price will reach $160,000 in 2025.
Matrixport research director Markus Thielen said the outlook is supported by steady investment demand for spot bitcoin ETFs, favorable macroeconomic trends, and expanding global liquidity.
Many people are losing money.
The strong increase in Bitcoin's price is due to the market's expectation when President Trump promised to turn the US into "the capital of Bitcoin and global digital currency" with a plan to sign a series of executive orders to reduce legal barriers and promote the development of this asset class.
However, since Mr. Trump took office, the largest cryptocurrency on the market has fallen to $104,715 at 11:55 a.m. on January 25, "evaporating" about $4,000.
Although cryptocurrencies are known for their high volatility, many believe that the risks for Bitcoin in 2025 will not be too great.
In Vietnam, many people think that Bitcoin and other currencies will increase sharply, players will have the opportunity to "grab" big profits in the event that Mr. Donald Trump officially returns to the White House, but in fact it is not. The fact that the new US President did not make any statement related to digital currency has disappointed the market, the price list of many coins is dyed red.
Previously, according to a 2024 market survey by the Coin68 platform with more than 2,700 people, nearly 44% of respondents said they were losing money when investing in cryptocurrencies. Recently, the market has also recorded many cases of "burning" accounts when trading derivatives (pouring money through futures contracts). Accordingly, investors can place orders predicting an increase (long) or decrease (short) in the price of a cryptocurrency within a certain period of time without owning it. If correct, they will make a profit, otherwise they can lose all their money when it reaches the liquidation threshold. In recent Bitcoin peak sessions, hundreds of millions of USD of investors' capital has been blown away.
According to cryptocurrency experts in Vietnam, new investors need to absolutely "say no" to derivative transactions to avoid losses, the worst being losing all assets.
"The cryptocurrency market is like a game of dice, luck and unpredictability. You can make a big profit at first but also lose everything very quickly" - the director of a blockchain company in Ho Chi Minh City warned.
According to Reuters news agency on January 21, US President Donald Trump's $TRUMP cryptocurrency stirred up the cryptocurrency market on the first day of his inauguration, pushing up the prices of other currencies.
The $TRUMP coin was launched on the evening of January 17 (US time), increasing from under $10 to $74.59 on January 19 but then falling to $33.88 on January 20.
Notably, the cryptocurrency issued by the wife of the new US President Donald Trump right before the day of his inauguration and named after her - MELANIA - also had a dizzying increase in price and then a sharp drop, causing investors to struggle when chasing after it.
Source: https://nld.com.vn/mot-nam-bitcoin-bien-dong-kho-ngo-nguoi-choi-len-voi-xuong-cho-19625012416081859.htm
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