Bybit Learn Wrapped 2024
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The year 2024 was a landmark year for the cryptocurrency industry, marked by significant events that reshaped the landscape of digital assets.
The year kicked off with a bang as the U.S. Securities and Exchange Commission (SEC) approved Bitcoin Spot ETFs in early 2024. This approval not only legitimized Bitcoin in the eyes of traditional investors, but also paved the way for massive institutional investment into the cryptocurrency market.
Market sentiment turned bullish in March, driven by the successful Bitcoin Spot ETF launch. Bitcoin's price surged and broke its 2021 all-time high (ATH) price of $69,000. This marked the first time Bitcoin made a new ATH before a Bitcoin halving event.
Bitcoin underwent the most recent and much-anticipated halving event in April 2024, which reduced the reward for mining new blocks, effectively halving the rate at which new BTC are generated.