In 2024, Bitcoin experienced a surge, more than doubling its value.

In 2024, Bitcoin more than doubled in value due to the approval of exchange-traded funds linked to its spot price by U.S. market regulators, as well as optimism regarding the easing of regulatory hurdles following Donald Trump's return to the White House.

According to writes Reuters.

The largest and most well-known cryptocurrency in the world reached the $100,000 mark earlier this month, sparking optimism among supporters of this emerging asset class.

According to CoinGecko, Bitcoin's 120% increase this year and nearly 50% surge in Ethereum, the second-largest cryptocurrency, have resulted in the sector's market value reaching approximately $3.5 trillion.

Analysts expect even more growth by 2025.

It is noted that as of December 1, Bitcoin is trading at $93,562.

Background. Previously, Mind reported that analysts link the positive market dynamics to Donald Trump's election victory, as he is known for his pro-cryptocurrency stance and promises to support the industry if he returns to the White House.