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Data from the past eight years shows that bitcoin ended December in the green six times since 2015, running at least 8% to as much as 46% (in the outlier year of 2020).

The new year will usher in the bitcoin-friendly administration of President-elect Donald Trump and an expanding lobbying effort in statehouses that, together, could push states to become more open to crypto and for public pension funds and treasuries to buy into it. Many bitcoin enthusiasts and investors are quick to criticize government-backed currencies as prone to devaluation and say increased government buy-in will stabilize bitcoin's future price swings, give it more legitimacy and further boost an already rising price. Critics say a crypto investment is highly speculative, with so much unknown about projecting its future returns, and warn that investors should be prepared to lose money.

The Fed is likely to deliver a “hawkish rate cut,” with hints of less easing next year.

On Dec. 10, Microsoft (NASDAQ: MSFT) shareholders voted against a proposal to ask the company to add Bitcoin (CRYPTO: BTC) to its balance sheet. Microsoft's board had recommended that shareholders vote no, so the rejection was perhaps no surprise. Other high-profile corporations would have surely followed Microsoft's example, leading to a wave of Bitcoin adoption across corporate America.

The cryptocurrency market has long been a favorite of aggressive investors (perhaps more accurately described as speculators) because of its volatility. At their best, these digital assets can trounce traditional stock market indexes like the S&P 500 or Nasdaq Composite. With its price up by about 340% year to date at the time of writing, Dogecoin (CRYPTO: DOGE) is an excellent example of this explosive, millionaire-making potential.

Bitcoin has once again proven its resiliency throughout 2024, but can the cryptocurrency's price continue rising?

Tom Lee is the head of research at Fundstrat Global Advisors. Lo and behold, the S&P 500 advanced by 24% last year as cooling inflation and the anticipation of interest rate cuts gave investors reasons to be bullish.