December 25, 2024 – (SeaPRwire) – Since mid-autumn 2024, Bitcoin has repeatedly surpassed its ATHs. On December 17, 2024, the first cryptocurrency set another record, soaring up to $108 000 and higher. We spoke with EMCD CEO Michael Jerlis about the reasons behind this surge, Bitcoin’s future, the impact on the crypto market as a whole, and whether it’s worth investing at its peak.
Q1: How do you evaluate Bitcoin’s current growth? Why now?
A1: The record-breaking surge in Bitcoin is a clear testament to the strength of the cryptocurrency market. This impressive rise can be explained by several factors. Firstly, the US elections and Donald Trump’s victory, coupled with his strong support for cryptocurrencies, acted as a catalyst. Additionally, his promise to create a ‘Bitcoin Superpower’ has significantly fueled interest among crypto investors.
Secondly, the launch of Bitcoin-based exchange-traded funds in the US and the Federal Reserve’s interest rate cuts provided a significant boost. These factors have created ideal conditions for a renewed wave of interest in the leading cryptocurrency.
Q2: Why do you think investors are drawn to Bitcoin right now?
A2: Many people are seeking alternatives to traditional assets in times of economic uncertainty. The threat of inflation and growing doubts about the US dollar as a reserve currency have solidified Bitcoin’s reputation as ‘digital gold.’
Additionally, the halving that occurred in the spring of 2024 reduced the new coin supply, driving up demand. Now, we’re witnessing a surge of major investors flooding the crypto market.
Q3: Do you think Bitcoin’s current rally marks the start of a long-term trend or just a short-term spike? Are we heading for a new ATH?
A3: This surge isn’t just a temporary spike – it’s the beginning of a new long-term trend. The likelihood of further growth is very high, especially if the US establishes a strategic Bitcoin reserve. Many analysts are forecasting the $120 000 mark or even higher.
Keep in mind that cryptocurrency remains a highly volatile asset. Investors should be prepared for temporary corrections along the way.
Q4: How is Bitcoin’s current growth affecting other cryptocurrencies? Can we expect similar records from Ethereum or other altcoins?
A4: Bitcoin is undeniably the trendsetter of the crypto market. The current bullish trend has a positive ripple effect across the entire market. For instance, Ethereum, the second-largest cryptocurrency by market cap, recently hit $4 096. This is still not the ATH set by ETH back in 2021. This means there is still potential to go higher.
This growth is also encouraging for altcoins, as it strengthens investor confidence in the market, potentially paving the way for new milestones across the board.
Q5: What advice would you give to beginners looking to invest in cryptocurrency now?
A5: Start by learning the crypto basics. Remember that cryptocurrency is a long-term investment, and be prepared for volatility. Only invest what you’re ready to lose, and always diversify your portfolio.
Additionally, choose reliable platforms and wallets to store your assets. For example, EMCD develops products that simplify access to cryptocurrency for both beginners and professionals alike.
Q6: What do you think the future holds for the cryptocurrency market? Can we expect new technologies to appear?
A6: The future of crypto lies in widespread blockchain integration across various industries. Today, it’s used in finance, art, music, and gaming. In the coming years, technologies like smart contracts and DeFi will continue expanding their influence.
Bitcoin’s role as a hedge and a store of value will grow stronger. It’s not far-fetched to imagine entire countries adopting Bitcoin as a reserve asset in the future.
Q7: Is it a good time to invest in Bitcoin now, or is it too late to enter the market at these levels?
A7: This is undoubtedly one of the most common questions in the crypto world right now. The answer depends on your investment strategy. For those seeking quick profits, it might be wise to hold off for now, as Bitcoin is at its peak, and price corrections are likely. However, for long-term investors, it’s definitely not too late to enter the market.
Q8: What advice do you have for those planning to invest in Bitcoin now?
A8: My advice is simple – invest only what you’re prepared to hold for the long term. Remember that volatility is part of the game, but with the right approach, Bitcoin can become one of the best investments in your portfolio.
Also, don’t forget to diversify your investments. Bitcoin is undoubtedly the driving force of the crypto market, but it’s not the only opportunity. Take a closer look at other assets that are also showing impressive performance. For example, until recently, few people paid attention to XRP and SUI, which suddenly surged and became the talk of the community. It’s essential to identify similar potential projects in the future.
Q9: And finally, what would you like to say to crypto enthusiasts and those just starting to explore this field?
A9: Cryptocurrency is a part of a technological revolution. In this fast-evolving crypto world, it’s crucial to keep learning and experimenting, not just following trends but understanding their essence. And always remember: the future belongs to technology and innovation.