A year ago, the crypto world was in shambles. Now it’s back, riding a new rally that supporters predict will surge even higher in 2024.
The price of bitcoin (BTC-USD), the world’s largest cryptocurrency, is up more than 160% this year after topping $44,000 for the first time since early 2022. The stock of cryptocurrency exchange Coinbase (COIN) has more than tripled, while the total market value of all crypto assets has nearly doubled.
“I think what people are reacting to this year is crypto is here to stay,” Coinbase CEO Brian Armstrong told Yahoo Finance.
The industry’s comeback was one of the more surprising market stories of 2023, following an epic 2022 collapse that burned many investors and took down some of the industry’s biggest names.
The bull case for 2024 is that many of crypto’s biggest problems are now officially in the rear-view mirror after the criminal conviction of FTX founder Sam Bankman-Fried and a guilty…
