The global crypto market underwent significant developments in 2024, including the approval of Bitcoin ETFs in the U.S. and Bitcoin reaching its $100,000 target. This article highlights the key events of the year that captivated the world's crypto community.
January: Bitcoin ETF Approval
In January 2024, the U.S. SEC approved 11 Bitcoin ETFs, marking a significant step forward for the crypto industry. Major firms like BlackRock and Fidelity supported this move, allowing investors to gain exposure to Bitcoin without directly owning it. Despite simplifying cryptocurrency investments, the SEC warns of risks like market manipulation and fraud.
AI Tokens' Growth
July 2024 saw a rise in AI-related tokens, buoyed by technologies such as OpenAI's Sora. Projects like Fetch.ai and Bittensor led the charge in this area, showcasing significant growth within the sector.
August: Market Crash
On August 5, 2024, markets crashed due to an unexpected interest rate hike by the Bank of Japan and weak U.S. employment data. This led to massive sell-offs in global markets, including the Nikkei 225 and Nasdaq, highlighting the interconnectedness of global financial systems.
2024 was a pivotal year for cryptocurrency markets, marked by successes like Bitcoin ETF approvals and AI token growth, alongside challenges such as the August market crash. These events underscore the rapid evolution and changing landscape of the cryptocurrency sphere.
