比特幣和山寨幣在2024年迅速增長，軌跡會在2025年繼續嗎？

加密貨幣在2024年迅速增長，尤其是在第四季度，但這種軌跡是否會繼續

Cryptocurrency experienced swift growth in 2024, particularly in the fourth quarter. As the year began, the question on everyone's mind was whether this trajectory would continue. The first quarter of 2025 has already seen high volatility and fluctuation, with crypto prices hitting a high at the start of March only to plummet a few days later.

加密貨幣在2024年經歷了迅速的增長，尤其是在第四季度。隨著年的開始，每個人都想到的問題是這一軌跡是否會繼續下去。 2025年第一季度的波動性和波動很高，加密貨幣價格在3月初的高度下降，直到幾天后下降。

The year is still young, and crypto traders with an HODL ("Hold on for Dear Life") strategy hope to see Bitcoin rally and even double in price this year, while altcoin investors continue to anticipate a "moonshot" that will yield exponential returns.

這一年還很年輕，加密貨幣交易員擁有HODL（“持有親愛的生活”）策略希望看到比特幣集會，甚至今年的價格兩倍，而Altcoin Investmors繼續預計將產生指數級的“月經”。

It's not at all clear what 2025 will be like for the crypto market, and no outcomes are guaranteed; even past performance of major coins like Bitcoin (CRYPTO: BTC) and Ether (CRYPTO: ETH) don't offer the most solid grounds for prediction, because the cryptosphere remains relatively new and untested (and, for many investors, exciting). Nevertheless, if crypto token prices keep up with their anticipated growth rate, price moves that double or triple remain very possible over the next twelve months.

目前尚不清楚加密貨幣市場的2025年會是什麼樣，也不能保證結果。即使是比特幣（Crypto：BTC）和Ether（Crypto：ETH）等主要硬幣的表現也沒有提供最堅實的預測基礎，因為加密圈仍然相對較新且未經測試（對於許多投資者而言，令人興奮的是）。然而，如果加密代幣價格與預期的增長率保持同步，那麼在接下來的十二個月中，兩倍或三倍的價格轉移仍然很可能。

Strong Tailwinds For The Crypto Market

加密市場強烈的逆風

2024 did give cryptocurrency several tailwinds that could continue driving price increases in 2025. For example, Bitcoin's halving event in April 2024 restricted the token's available supply. With less Bitcoin available, continued demand for the coin can theoretically drive the price up this year.

2024年確實給加密貨幣提供了幾條尾風，這些方風可能會在2025年繼續提高價格。由於可用的比特幣，對硬幣的持續需求理論上可以使今年的價格上漲。

The other watershed moment last year was the January 2024 regulatory approval for the trade of spot Bitcoin exchange traded funds (ETFs), which opened Bitcoin up to mainstream investors by providing them with a regulated means of investing in Bitcoin through their brokerage accounts. Large companies like BlackRock (NYSE:BLK) and Fidelity quickly added the crypto token to their reserves–and have continued to add more. (BlackRock, for example, just augmented its supply with another $145 million in BTC on March 21, 2025.)

去年的另一個分水嶺是2024年1月對現貨比特幣交易所交易基金（ETF）交易的監管機構批准，該貿易通過其經紀帳戶為比特幣提供了監管的投資手段，從而向主流投資者開放了比特幣。像BlackRock（NYSE：BLK）和Fidelity這樣的大型公司很快將加密代幣增加了為他們的儲備，並繼續增加更多。 （例如，貝萊德（Blackrock）在2025年3月21日在BTC又增加了1.45億美元的供應。）

This has led to high trading volumes of spot Bitcoin ETFs over the past year. In fact, with many hoping that the SEC will approve ETFs for other cryptocurrencies, the volume of both Bitcoin and altcoin trading has risen quickly on Binance and other popular crypto platforms. In a recent interview with Benzinga, Richard Teng, CEO of Binance, described the growth of the Bitcoin market: "We saw Bitcoin ETFs approved in the U.S. and globally, from Brazil to Hong Kong and Australia. The net inflow into Bitcoin ETFs has already surpassed that of gold ETFs within a year, demonstrating the immense pent-up demand."

在過去的一年中，這導致了大量的比特幣ETF。實際上，許多人希望SEC能夠批准ETF來獲得其他加密貨幣，因此比特幣和替代幣交易的數量在Binance和其他流行的加密平台上很快增加了。 Binance首席執行官Richard Teng在最近的一次採訪中描述了比特幣市場的增長：“我們看到比特幣ETF在美國和全球範圍內，從巴西到香港和澳大利亞。從巴西到香港和澳大利亞。淨流入比特幣ETF的淨流入已經超過了一年的金ETF，這表明了一年的含量，這表明了含量的需求。”

Teng also described the increased institutional interest in the coin. "This year, we've seen a significant uptick in institutional interest, with sovereign wealth funds and pension funds beginning to allocate Bitcoin reserves. This is a major positive for the industry as we move into 2025."

滕還描述了硬幣的機構利益的增加。 “今年，我們已經看到機構利益的大幅提升，主權財富基金和養老基金開始分配比特幣儲備。這對我們進入2025年是對行業的主要積極積極的貢獻。”

By the end of 2024, investors could trade options on spot Bitcoin ETFs from BlackRock, Fidelity, and ARK Invest. In fact, the crypto trading firm Galaxy Digital shared with The Wall Street Journal in November that it could see about $100 million in bullish purchases of BlackRock ETF call options expiring in 2026 or 2027.

到2024年底，投資者可以通過BlackRock，Fidelity和ARK Invest的現貨比特幣ETF進行交易。實際上，這家加密貨幣貿易公司Galaxy Digital在11月與《華爾街日報》（Wall Street Journal）共享，它可能會在2026年或2027年將看漲約1億美元的BlackRock ETF呼叫期權。

"The evolution of Bitcoin has consistently driven price rallies whenever new layers of Bitcoin acquisition were introduced to financial markets," suggested Markus Thielen, founder of 10x Research.

10倍研究的創始人Markus Thielen建議：“只要將新的比特幣收購層引入金融市場，比特幣的發展一直在推動價格集會。”

Only time will tell if Thielen's prediction proves accurate, but certainly the current high demand for Bitcoin paired with the new options for how to trade it constitute significant tailwinds that increase the potential that both Bitcoin and other decentralized digital assets will see strong price increases this year.

只有時間可以證明Thielen的預測是否證明是準確的，但是當然，對比特幣的高需求以及如何交易的新選擇構成了重要的尾風，從而提高了比特幣和其他分散數字資產的潛力，今年的價格強勁。

Riding Out Regulatory Uncertainty

擺脫監管不確定性

Besides Bitcoin's recent halving event and the introduction of exchange-traded funds and options trading, the other tailwind is public perception that the regulatory environment may be shifting in cryptocurrency's favor.

除了比特幣最近的減半活動以及引入交易所交易的資金和期權交易之外，另一個方風是公眾的看法，即監管環境可能會在加密貨幣的利益中轉移。

Beyond just bullish anticipation of more ETF approvals, crypto enthusiasts look to promises of a national cryptocurrency stockpile. Anticipation of a national reserve may have motivated the inflow of $20 billion in USDT (Tether) into major exchanges late last year, including $7.7 billion into Binance.

除了看好對更多ETF批准的期望，加密助人的愛好者都希望承諾國家加密貨幣庫存。去年年底，國家預備隊的期望可能激發了200億美元（束縛）的200億美元（包括77億美元）的重大交易所。

Whether it's practical or even possible for the U.S. to build a cryptocurrency stockpile in 2025 remains to be seen. There are also attempts to create reserves at the state level, with bills proposed in 20 states–but five states have already blocked these measures, leaving the future integration of cryptocurrency into public finance uncertain.

無論是實際的，甚至有可能在2025年建立加密貨幣庫存還是有可能的，還有待觀察。還試圖在州一級創建儲備金，在20個州提出了法案，但五個州已經阻止了這些措施，使得加密貨幣將未來整合到公共財政上不確定。

From Wild West To Mainstream?

從野外西部到主流？

Despite bumps in the road to creating state reserves, there are multiple signs that Bitcoin and other cryptocurrencies may still be on the fast track to mainstreaming in 2025. Bitcoin price continues to rise and recently passed the milestone of $

儘管在創建國家儲量的道路上有顛簸，但有多種跡象表明，比特幣和其他加密貨幣可能仍在2025年的快速軌道上登上主流。比特幣價格繼續上漲，最近通過了$ $的里程碑。