Bitcoin's 2024: From ETF Approval to Breaking $100,000, a look back at the pivotal moments that changed the crypto landscape

It's time for the year-end wrap-up again. In 2024, the bitcoin market will be volatile, with a number of major events driving the industry to climb, and the price of the coin will break through the $100,000 mark, hitting a record high. It's been a milestone year for the crypto industry as a whole. This article will take stock of the key moments that affected the fate of Bitcoin in the context of time, and review the glory and hardships of this year.

! From ETF approval to breaking $100,000, looking back at the pivotal moments when Bitcoin changed the crypto landscape in 2024

Bitcoin spot ETF approved, ushering in a new era of institutional investment

On January 10, the U.S. financial world ushered in a major change - the approval of the Bitcoin ETF. This allows institutional investors such as listed companies, pension funds, and various funds in the United States to officially enter the cryptocurrency field through this financial instrument, opening a new era of public purchase and holding of Bitcoin.

In April, the first batch of Bitcoin and Ethereum spot ETF products was approved and officially listed on the Hong Kong Stock Exchange on April 30.

The launch of the ETF brings new product depth to the encryption market, attracting a large number of institutions to enter. Traditional capital pouring into the encryption world makes encryption investment increasingly close to traditional financial markets.

! From ETF approval to breaking through $100,000, a review of the key moments when Bitcoin changed the crypto landscape in 2024

Bitcoin's Fourth Halving: A Key Turning Point of Fate

On April 20, Bitcoin halved for the fourth time at block height 840,000, and the block reward dropped from 6.25 BTC to 3.125.

Unlike previous halves, the price of Bitcoin did not hit new highs immediately after this halving. Instead, it began to rise significantly under the influence of a series of events such as halving, conventions, political elections, and regulatory shifts.

The halving event has reshaped the mining industry and reduced the profitability of miners. It also stimulates technological innovation and community development within the blockchain ecosystem, enhancing Bitcoin's attractiveness as a long-term investment asset.

Changing the role of miners: from block producers to infrastructure service providers

In 2024, the Bitcoin mining industry will undergo profound changes. The halving has led to a drop in the price of hashes, while the rise of new applications such as inscription runes has changed the main source of revenue for miners.

According to statistics, in 2024, standard financial transactions accounted for 67%, Runes accounted for 19%, and BRC-20 and Ordinals transactions together accounted for 14%. The role of miners is shifting from being simple block producers to being infrastructure service providers to the Bitcoin ecosystem.

This transformation allows miners to deeply integrate into all aspects of the Bitcoin ecosystem, and explore a more sustainable development path while promoting the development of the ecosystem.

! From ETF approval to breaking $100,000, a review of the key moments when Bitcoin changed the crypto landscape in 2024

Bitcoin Conference: Politicians help out, causing market volatility

On July 27, the Bitcoin 2024 conference was held in Nashville. The presence and speeches of well-known politicians such as Trump have caused huge repercussions in the industry.

In his speech, Trump fully affirmed Bitcoin's status as a scarce asset and a safe-haven asset, saying that the United States must maintain its status as a cryptocurrency superpower. He also promised to fire the chairman of the SEC if elected, and made 13 commitments on cryptocurrency.

During and after the conference, the price of Bitcoin fluctuated to a certain extent. All kinds of technological innovations, policy interpretations, and market trend information about Bitcoin converge here, which has a profound impact on the entire cryptocurrency space.

Positive for the US Election: Trump's Victory Boosts Bitcoin to New Highs

On November 6, Trump returned to the White House with the support of crypto forces. Since taking office, he has taken a number of positive actions in favor of the crypto industry, which have had a significant positive impact on the price of bitcoin.

These measures include: abolishing the SAB 121 Act to clear the way for traditional financial institutions; appointing crypto-friendly individuals as SEC chair; promoting the establishment of strategic Bitcoin reserves; halting government Bitcoin sales, etc.

This series of policy signals greatly boosted investor confidence, pushed the price of bitcoin to climb further, and ushered in a new era of Trump-fueled cryptocurrency.

! From ETF approval to breaking through $100,000, looking back at the key moments when Bitcoin changed the crypto landscape in 2024

Changing attitudes in global politics: Bitcoin is gaining more recognition

In 2024, more and more politicians will begin to recognize the value of bitcoin, and some countries are considering establishing national bitcoin reserves.

Political leaders from multiple countries, including the United States, Russia, Japan, South Korea, El Salvador, Argentina, and Singapore, have successively made positive statements regarding cryptocurrency policies. This suggests that Bitcoin will occupy a more important position in the future financial landscape.

Improved regulatory environment: Institutional investors are flocking in

As the regulatory environment becomes more open and transparent, many listed companies have included Bitcoin in their strategic asset reserves. Companies such as Tesla and MicroStrategy have reaped huge returns with their firm holding strategies.

Since November, a number of publicly traded companies such as Nano Labs, Genius Group, LQR House, Acurx Pharmaceuticals, and Hoth Therapeutics have announced the purchase of Bitcoin as a reserve asset. This "Bitcoin Strategic Reserve Race" is in full swing among listed companies.

! From ETF approval to breaking through $100,000, looking back at the key moments when Bitcoin changed the crypto landscape in 2024

Bitcoin Ecosystem: Coexistence of Dormancy and Innovation

The Bitcoin ecosystem has experienced rapid development over the past year. Market dominance has increased significantly, with Layer 2 solutions emerging and new breakthroughs in interoperability and security.

Although the ecological development is still not harmonious enough at present, there has been significant progress compared to last year. A large number of innovative projects are being nurtured, accumulating strength for the future bullish market.

Bitcoin Surpasses $100,000: A New Milestone Begins

On December 5th, the price of Bitcoin broke through the $100,000 mark for the first time, with a 24-hour increase of nearly 5%. This historic breakthrough has attracted widespread attention, further bringing encryption and the concept of decentralization into the mainstream.

From the initial obscurity to the current proudness, Bitcoin has completed one amazing leap after another in 16 years. $100,000 is just a new starting point, and there are many more to come.

! From ETF approval to breaking through $100,000, looking back at the key moments when Bitcoin changed the crypto landscape in 2024