2024 is coming to an end, and Forbes, the well-known American business magazine, summarized in an article yesterday (23rd) that 2024 was a year of historical significance for BTC and cryptocurrencies. In this year, spot BTC and ETH ETFs were launched, institutional adoption is accelerating, BTC also broke the $100,000 mark for the first time, and President-elect Trump publicly expressed his support for cryptocurrencies... All signs indicate that cryptocurrencies have proven to the world in 2024 that they have become an unstoppable force.
Forbes' Seven Predictions for 2025
As the old year gives way to the new, Forbes has also made seven predictions about the cryptocurrency market in 2025 in this article, which are as follows:
1. G7 or BRICS countries will establish BTC reserves
Forbes first points out that the incoming Trump administration's proposal for the US to establish BTC reserves is of great significance, and many countries may launch a round of BTC reserve competition, elevating the status of BTC to the same level as gold, foreign exchange reserves, and sovereign bonds:
Any major economy establishing BTC reserves could mark the beginning of a new era in sovereign wealth management.
Further reading: Ohio lawmakers propose BTC reserve bill: Accelerating USD depreciation requires BTC to protect tax revenue
2. Stablecoin market cap to surpass $400 billion
Forbes further points out that stablecoins have become one of the most successful use cases in the cryptocurrency field, and have built a bridge between traditional finance and digital assets, with hundreds of millions of people using stablecoins for daily consumption and cross-border remittances.
Forbes predicts that in 2024, the stablecoin supply will reach a historic high, with a total market cap of $200 billion; and in 2025, driven by regulatory legislation, the stablecoin market cap may double again, reaching over $400 billion:
US regulators will increasingly recognize the strategic importance of stablecoins in strengthening the global dominance of the US dollar and consolidating its status as the world's reserve currency.
BTC DeFi sector supported by L2 networks to see significant growth
Third, BTC is currently going beyond its role as a store of value, and market players including Stacks, Babylon and others are focusing on unleashing the potential of the DeFi ecosystem built around BTC:
These L2 solutions have enhanced the scalability and programmability of BTC, enabling DeFi applications to thrive on the most secure and decentralized blockchain network.
Looking ahead to 2025, Bit DeFi is expected to experience exponential growth, with the TVL of Bit L2 exceeding $24 billion.
4. Bit ETF continues to grow, and new cryptocurrency ETFs continue to emerge
For Bit, the most important event this year was perhaps the SEC's approval of the listing application for multiple Bit spot ETFs in early January, and within less than a year, these ETF products have attracted over $100 billion in funds.
Forbes predicts that the scale of Bit spot ETFs will continue to grow further by 2025, and the pledge function of Ethereum spot ETFs will also be approved by the US regulatory authorities by 2025; finally, other cryptocurrency ETFs, such as Solana, will also soon meet investors:
These innovative products will make cryptocurrency investment more convenient and efficient, and a wide range of investors will be attracted.
Further reading: Bloomberg Analyst: Dogecoin ETF Expected to Be Seen After Trump Takes Office, Is $1 Doge Not a Dream?
5. The Seven Giants of the US Stock Market Will Include Bit on Their Balance Sheets
Forbes emphasizes that another notable event is that the Financial Accounting Standards Board (FASB) in the US has also formally introduced the first financial accounting standard for cryptocurrencies this year, allowing companies to record cryptocurrencies such as Bit on their company balance sheets at fair value.
Therefore, the seven major US tech giants (the Seven Giants of the US stock market), including Nvidia, Apple, Google, Amazon, Tesla, etc., which collectively hold over $600 billion in cash reserves, may allocate a certain proportion of Bit, thereby enhancing the legitimacy and influence of Bit globally:
Doing so will help with prudent financial management:
. Hedge against inflation
. Diversify investment portfolio
. Enjoy the appreciation gains of Bit
. Embrace digital transformation and keep up with technological trends
Further reading: Bit Breaks New High of $107,000, Why the New Cryptocurrency Accounting Standards in the US Are a Big Boost for BTC?
6. The Total Market Value of Cryptocurrencies Exceeds $8 Trillion
Forbes further states that in 2024, as Bit continues to break new highs, the total market value of cryptocurrencies has also reached a historic high of $3.8 trillion. And in 2025, with the influx of a large number of developers, the birth of various new applications, and the continuous addition of new users, the total market value of cryptocurrencies is expected to exceed $8 trillion.
7. The US Becomes a Cryptocurrency Powerhouse Again
Finally, Forbes predicts that with Trump's inauguration, the US cryptocurrency industry will see significant improvement, specifically including:
- Increased regulatory clarity: The US SEC will regulate cryptocurrencies in a mild and friendly manner
- Capital and resources: With the improvement of the regulatory environment, cryptocurrency companies will find it easier to raise funds to enter the capital market and engage in traditional financial services
- Talent and entrepreneurial spirit: The relaxation of regulations will also attract a large number of talents to return to the US, which will help the US cryptocurrency ecosystem take root and eventually grow into a towering tree
Analyst: Bit May Retest the $90,000 Support Level
Although the industry is full of optimism about the development of the cryptocurrency industry in 2025, last week, due to the Federal Reserve's reduction in the expected number of rate cuts next year, the cryptocurrency market has also suffered a severe setback, with Bit retreating to around $93,900 at the time of writing, a drop of 11.3% in the past week.
In this regard, cryptocurrency analyst Bitcoindata21 analyzed:
Bit's retest is not the bullish trend that investors hope to see, but Bit is likely to retest the $92,000 support level, and for the bulls, $85,000 to $86,000 seems to be a more solid support level.
Additionally, trader CrypNuevo also stated that we are currently in a relatively low point, but it cannot be ruled out that Bit may continue to test lower support levels after breaking below $90,000:
We may still fall to even lower levels.
It's hard to imagine that we'll see a V-shaped rebound from here, I'm more inclined towards a W-structure or a 100% wick fill. Ideally, a 100% wick fill is reasonable, as $90,000 is a strong psychological support.
