BTC breaks through 40,000 USD, industry insiders optimistic about 2024 outlook

Recently, the price of BTC broke the 40,000 USD mark, attracting widespread attention in the industry. Most industry executives believe this signifies the beginning of a new bull market, and some even anticipate that BTC may reach a historical high of 100,000 USD in 2024.

As of December 2023, BTC has risen over 120% this year. Many people are optimistic about this upward trend continuing into 2024. A well-known company's CEO stated in a media interview that 2023 has set the stage for a bull market, and people are equally looking forward to 2024 and 2025.

Looking back over the past two years, the crypto industry has faced a series of setbacks, from the collapse of cryptocurrencies and projects to bankruptcies and criminal trials. Once-dominant players in the industry have fallen one after another, with their founders facing severe legal sanctions. The resolution of these cases is seen as addressing the long-standing issues plaguing the crypto market.

Currently, investors are starting to focus on what the industry considers to be a positive development trend. Firstly, the Bitcoin ETF is likely to be approved soon, which is expected to attract more traditional investors into the market. Secondly, the Bitcoin halving scheduled for May 2024 often triggers a new wave of price increases.

There are some bold predictions regarding the price trend of BTC in 2024. A large bank has reiterated its previous view, expecting BTC to reach $100,000 by the end of 2024. This means the price will increase by about 160% from the current level.

However, some analysts remind investors to pay attention to potential risks. The expectation of ETF approval is an important support for the current rebound, and if the product is rejected again, it may have an adverse impact on the BTC price.

Overall, as the industry environment stabilizes, institutional investors enter the market, and positive factors such as halving come into play, most industry insiders hold an optimistic view on BTC's performance in 2024. However, investors still need to cautiously assess risks and rationally view market fluctuations.

The Great BTC Debate: From Yap Stones to Digital Gold

Throughout the long history of human currency, from the earliest Yap stones to today's Bitcoin, each iteration of currency forms reflects humanity's relentless pursuit of efficiency, trust, and value. Bitcoin, as a brand new form of digital currency, is not only a technological innovation but also a rethinking of the essence of currency.

The Lai Stone of Yap Island, although huge and immovable, contains immense value and reflects humanity's collective ability to recognize the value of something. This concept resonates in the digital space of Bitcoin - Bitcoin similarly relies on the consensus of participants to determine its value.

Although Bitcoin has no physical form, its mathematical scarcity and the robustness of its underlying technology reflect an intrinsic value similar to that of physical currency. It possesses a high degree of adaptability and divisibility, much like wartime cigarettes functioning as currency.

The birth of the Euro tells the story of currency unification, while Bitcoin takes this unification to a global scale, creating a borderless financial language. It is not only a medium of exchange but also a catalyst for promoting an efficient interconnected world.

Bitcoin challenges our traditional perceptions of trust, value, and exchange mechanisms. It not only facilitates transactions but also redefines the essence of trading, showcasing the limitless possibilities of future currencies.

In the evolution of currency, Bitcoin represents a revolutionary leap. It is not just the next stage of development, but also opens up a new realm full of possibilities. The emergence of Bitcoin reflects humanity's collective wisdom in understanding and creating value, and also showcases our future vision of continuous innovation and deep interconnection.

El Salvador's Bitcoin investment pays off

The President of El Salvador recently made a statement explaining the profitability of the country's Bitcoin investments. He pointed out that at the current market price of Bitcoin, selling the held Bitcoin would not only allow for a full recovery of the investment but also yield a profit of 3.62 million dollars.

The president emphasized that El Salvador has no intention of selling Bitcoin, and that has never been their goal. They are aware that future prices will continue to fluctuate, but this does not affect their long-term strategy.

The president called on those media and commentators who previously criticized El Salvador's Bitcoin investment to retract their statements and suggested that they should issue a declaration acknowledging their mistakes, or at least recognize that El Salvador is currently making a profit. He believes that if these individuals pride themselves on being true journalists, they should report this new reality with the same intensity as they reported the losses.

The president stated that he will continue to monitor the developments and looks forward to seeing the media's response.

El Salvador Field Investigation: An Emerging Nation

An institutional trader recently visited El Salvador and shared his personal experiences and observations. He stated that if he were an investor looking for international investment opportunities, he would immediately set up an office in San Salvador and seek investment opportunities. He believes that several industries, including tourism, hospitality, and real estate, are rapidly developing, presenting significant opportunities.

This trader stayed for a week in El Salvador and Bitcoin Beach. He was impressed by the country's modern airport, friendly people, booming construction activities, and improved security conditions. He believes that El Salvador is moving towards its goal of becoming the "Singapore of Latin America," which is business-friendly, growth-oriented, and strictly combating crime.

Regarding Bitcoin, this trader believes it has brought significant benefits to El Salvador. In addition to boosting tourism, the adoption of Bitcoin has also driven broader technological and financial education. He believes this will continue to bring various dividends to the country in the coming years.

This trader encourages finance professionals to add El Salvador to their travel list. He believes that witnessing such a national transformation firsthand is a rare opportunity, and the authenticity here also offers a unique experience for Wall Street professionals.

Finally, the trader stated that El Salvador is undergoing a national transformation, a story about humanity persevering and triumphing through difficult history. He looks forward to visiting this rising country again.

Bitcoin: The Key to the Continuation of Western Civilization?

The CEO of a well-known cryptocurrency exchange platform recently shared his thoughts on Bitcoin and the global monetary system. He suggested that Bitcoin could be the key to the continuation of Western civilization.

He pointed out that regardless of which country has the reserve currency, the natural trend is to expand the money supply and increase deficit spending until it loses that advantage. The emergence of cryptocurrencies provides people with an alternative to combat inflation.

The CEO believes that, contrary to the assumptions of some, cryptocurrencies will not pose a threat to the US dollar and the United States; rather, they may serve as a natural counterbalance and complement to the dollar, benefiting the long-term interests of the United States and the broader Western civilization. He predicts that fiat currencies and cryptocurrencies will coexist for a long time, functioning more as complements than substitutes.

He also mentioned that USD-backed stablecoins will play an important role in bridging the worlds of fiat and cryptocurrency.

The CEO stated that he is still deeply pondering these issues and welcomes more insightful opinions.

Bitcoin in El Salvador: The Significance Beyond Dollar Valuation

A strategic advisor from a well-known stablecoin project recently expressed his views on the application of Bitcoin in El Salvador. He pointed out that the biggest feature of El Salvador adopting Bitcoin as legal tender is the realization of the true use of Bitcoin, that is, 1 BTC = 1 BTC.

The consultant believes that while profits calculated in dollars are important, the significance of this calculation method will gradually decrease as the economy becomes more Bitcoinized. He emphasized that very few people truly understand this.

In response to claims that Bitcoin is an experiment, the advisor pointed out that the history of today's major fiat currencies is not very long either. For instance, the euro has only been around for just over 20 years, and the dollar, which is no longer backed by gold, has a history of about 50 years. He believes that only time will tell which forms of currency are enduring.

The consultant's viewpoint suggests the potential of Bitcoin as a new form of currency and the profound impact it may have on the traditional financial system.