Analyst: Speculative craze for Bitcoin and crypto-related stocks unlikely to subside by 2025

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Cointime2024/12/23 14:34

By:Cointime

Steve Sosnick, Chief Strategist of Interactive Brokers, said that the speculative frenzy that swept Bitcoin and crypto-related stocks in 2024 is unlikely to subside in the new year. "2024 is a speculative year, and in recent weeks it has evolved into a self-fulfilling frenzy. Although these trades sometimes encounter problems, the latest being after the Federal Reserve's December meeting, investors have always been willing to buy on dips," Sosnick said. "When something has been used by many people for a long time, they are unwilling to give it up.

After the expected election of Trump, which is expected to create a friendly regulatory environment for cryptocurrencies, Bitcoin hit a historic high of over $100,000 in December. Stocks related to cryptocurrencies have also been rising, with software company and Bitcoin hoarder MicroStrategy leading the way, with gains of over 400% this year.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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