Cryptocurrency has evolved into a store of value, somewhat like gold, and a medium of exchange, like the U.S. dollar. Its practical applications in everyday life have expanded as it becomes more mainstream. Among the various growing use cases, cryptocurrency has emerged as a method for bill payments.
Dogecoin (CRYPTO: DOGE) had a spectacular year in 2024 with a gain of 250%. It outperformed many other popular cryptocurrencies, including XRP (Ripple), Bitcoin, and Ethereum. As you can see, most of those cryptocurrencies didn't take off until around November.
Bitcoin (CRYPTO: BTC) hit six figures as excitement built around the potential for the digital currency. Last year also marked the introduction of many spot Bitcoin exchange-traded funds (ETFs), and the latest halving event, which cut the growth of new Bitcoin supply in half. Many analysts and growth investors remain bullish on Bitcoin and its potential to hit new heights in 2025.
“History shows these dips often pave the way for bigger bullish movements, especially with where we are in the market cycle now,” one market watcher said, as some foresee a shaky period in January.
Arthur Hayes, former CEO of BitMEX and now Chief Investment Officer at Maelstrom, has adjusted his outlook on the cryptocurrency market, predicting a peak in March 2025.