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Reflecting on the 2024 Cryptocurrency Market: Validating Predictions and Future Insights
Cryptocurrency community analysts have organized key market forecasts and developments from the past year, examining their accuracy and impact on the market. This analysis is not merely a record of price fluctuations but captures the structural changes across the entire industry.
Bitcoin Price and Major Corporate Movements Are in Sync
The price increase (to $7,000) following Russia’s resumption of Bitcoin mining in August 2024 suggests the influence of mining supply changes on the market. Simultaneously, the adoption of Dogecoin as a payment method demonstrated that meme coins can gain practical utility.
Meanwhile, strategic entries by major companies—such as Mastercard allowing cryptocurrency payments and Sony testing an NFT copyright management system on the Ethereum testnet—are strengthening the legitimacy of the market.
Undervalued Assets and the Importance of Technical Understanding
Analysts have indicated that Ethereum is undervalued in the market and emphasized the importance of accurately understanding blockchain layer structures and the differences between Proof of Stake and Proof of Work.
These technical insights form the foundation for participating in liquidity pools and avoiding trading mechanisms like sandwich attacks.
Risk Awareness and Market Pitfalls
At the same time, warnings are issued regarding risks associated with non-transferable WLFI tokens, celebrity coins, and meme coins. These highlight how trend-driven investments can lead to significant losses.
Intersection of Regulatory Environment and Emerging Technologies
Attention to the US Sovereign Wealth Fund and the SEC’s strengthened cybersecurity measures following the Libra scam incident suggest that regulators are moving toward comprehensive oversight and involvement in cryptocurrency technology.
Despite facing challenges in expanding market awareness, analysts continue to share critical information with the community to support more informed investment decisions.