Industry insiders: Everything in the cryptocurrency industry is moving in a favorable direction

Cryptocurrencies were once fringe in the eyes of the investing public, a concern for Washington policymakers and an object of derision from top Wall Street figures. But in 2024, that has changed, with investors holding Bitcoin seeing a 126% gain since the beginning of the year, and Bitcoin soaring to more than $100,000 after Trump's election. Data from Coinmarketcap shows that the market value of all cryptocurrencies has swelled by nearly $1.7 trillion. "Everything is going in a favorable direction for the cryptocurrency industry right now," said Ian Katz, managing partner of Capital Alpha. Cryptocurrency enthusiasts don't think the rally will end anytime soon, and Bitwise Chief Investment Officer Matt Hougan believes that by this time next year, "we'll be having the same conversation that Bitcoin has experienced an incredible rally." Bitwise expects Bitcoin to break $200,000 by the end of 2025. (Jinshi)