The Bitcoin boom 2024: Why this year could be your best chance to invest.

From doubt to dollars: Why 2024 is the perfect year for non-crypto enthusiasts to join the Bitcoin boom

The cryptocurrency market, once an enigma wrapped in volatility and scepticism, is now a significant force in global finance. Bitcoin, the most recognised digital asset, has matured into a legitimate investment vehicle that continues to capture the imagination of both institutional and individual investors. If you’ve ever been on the fence about entering the world of cryptocurrency, 2024 might just be the perfect time to dive in. Here’s why the stars are aligning for Bitcoin and why this year presents unique opportunities for newcomers.

Bitcoin boom 2024 explained: What new investors need to know

Zero-fee trading on every coin

Invest in Bitcoin and other cryptocurrencies commission-free on the Robinhood platform, 24/7. Don’t Sleep.

1. The significance of Bitcoin’s fourth halving

Bitcoin operates on a unique economic principle called halving, where the reward for mining new blocks is halved approximately every four years. In April 2024, Bitcoin will undergo its fourth halving, reducing the block reward from 6.25 BTC to 3.125 BTC.

This event effectively cuts the rate of new Bitcoin supply in half, creating a supply shock. Historically, halvings have been followed by substantial price increases due to decreased supply and sustained or growing demand.

For example:

After the 2012 halving, Bitcoin’s price rose from $12 to over $1,000 within a year.
The 2016 halving saw Bitcoin climb from $650 to nearly $20,000 by December 2017.
The 2020 halving preceded Bitcoin’s meteoric rise to an all-time high of nearly $69,000 in 2021.

This cyclical phenomenon positions 2024 as a critical year for potential price appreciation, making it an ideal entry point for those new to Bitcoin.

product hero invest 91b9077cf4788b508a013b9dda8c3ffe4d4fff969655c212a0201c9533237d46

Commission-free Stock Trading & Investing App | Robinhood

Trade on your time and your terms We have 24/7 Support to help with that too. Oh, and no commission fees. Your first stock is even on us.

2. Bitcoin ETFs: Broadening access to mainstream investors

One of the most anticipated developments in 2024 is the likely approval and expansion of Bitcoin spot ETFs (Exchange-Traded Funds) in the United States. These ETFs allow traditional investors to gain exposure to Bitcoin without the complexities of owning and managing the digital asset directly.

For new investors, ETFs offer:

Ease of access: No need for a digital wallet or private keys.

Regulatory oversight: Increased confidence through government-regulated investment products.

Liquidity: The ability to buy or sell shares through traditional brokerage accounts.

This mainstream integration is expected to drive significant capital into the Bitcoin market, providing more stability and accessibility for new participants.

3. Growing use cases: Beyond speculation

While Bitcoin is often viewed as a speculative asset, its practical use cases are expanding rapidly:

Digital gold: Bitcoin has solidified its reputation as a hedge against inflation and economic uncertainty.

Cross-border payments: Bitcoin’s decentralized network facilitates fast and low-cost international transactions.

Tokenisation and smart contracts: Bitcoin-based technologies, like Ordinals and BRC-20 tokens, are pushing the boundaries of what the Bitcoin blockchain can achieve, including applications in NFTs and decentralised finance.

This diversification of utility underscores Bitcoin’s staying power and provides newcomers with more reasons to invest.

Zero-fee trading on every coin

Invest in Bitcoin and other cryptocurrencies commission-free on the Robinhood platform, 24/7. Don’t Sleep.

4. Institutional adoption and regulatory clarity

Bitcoin is no longer a niche investment reserved for tech enthusiasts. Major corporations, financial institutions, and even governments are embracing the asset. For example:

Corporate holdings: Companies like MicroStrategy and Tesla hold significant Bitcoin reserves as part of their treasury strategies.

Payment platforms: PayPal and Square have integrated Bitcoin, enabling millions of users to buy, sell, and transact in crypto.

Regulatory developments: Jurisdictions like the European Union and Singapore are implementing clear frameworks for cryptocurrency regulation, fostering institutional confidence and wider adoption.

For first-time investors, these developments reduce the perceived risk of entering a market once deemed too unpredictable.

5. Enhanced platforms for beginners

In the past, crypto trading platforms were notorious for their complexity. Today, platforms like Robinhood Crypto have emerged as user-friendly solutions tailored to the needs of beginners. Robinhood Crypto offers:

Zero commission trading: Trade Bitcoin and other cryptocurrencies without worrying about high fees.

Intuitive interface: Simplified design that makes buying and selling crypto as easy as trading stocks.

Educational resources: Tutorials, news updates, and analytics to help users make informed decisions.

New users on Robinhood Crypto also benefit from promotional offers, such as bonuses for signing up or completing initial transactions, making it a practical and cost-effective way to start your crypto journey.

Sign up for Robinhood Crypto today to explore its benefits.

That’s right—earn 3% cash back on all categories.

It’s the only credit card you’ll need, and it’s exclusively for Robinhood Gold members.

6. Overcoming common fears and misconceptions

For many, hesitation to invest in Bitcoin stems from concerns about volatility, scams, or lack of knowledge. Here’s why these fears shouldn’t hold you back in 2024:

Volatility: While Bitcoin’s price can fluctuate, its long-term trend has been overwhelmingly positive. Learning to hold through market cycles is key.

Security: Platforms like Robinhood Crypto employ advanced security measures to protect user funds and data.

Knowledge gaps: The availability of beginner-friendly tools and resources makes it easier than ever to learn about Bitcoin and cryptocurrency.

Why 2024 is the year to start

With Bitcoin poised for a pivotal year, 2024 presents a rare opportunity for those who have been hesitant to join the crypto revolution. Between the upcoming halving, increased institutional adoption, and user-friendly platforms like Robinhood Crypto, there has never been a better time to take the plunge.

If you’re ready to turn doubt into dollars, start your Bitcoin journey today with Robinhood Crypto. Its seamless interface, zero-commission trading, and educational tools make it the perfect platform for beginners to confidently enter the world of cryptocurrency.

Get started with Robinhood Crypto now and claim your new user benefits.

Sources:

Binance

Coinbase

CoinMarketCap

______________________________