What a week it’s been in the cryptocurrency market so far. The month of February has been pretty darn amazing for the entire crypto market.

This is evidenced by the rise of the total market cap of crypto as a whole, which has gained more than 22% since February 1.

Of course, one big reason why the crypto market is gaining steam is the recent launch of the first spot Bitcoin (BTC) exchange-traded funds (ETFs). In the beginning of January, the Securities and Exchange Commission (SEC) finally approved the launch of several spot Bitcoin ETFs from major traditional finance (TradFi) players such as BlackRock (NYSE: BLK) and Fidelity.

These ETFs marked a very notable milestone for Bitcoin and the overall crypto market for several reasons. First and foremost, the approval came after years of applications from dozens of different players. For years these ETF applications had been denied, but it wasn’t until Blackrock tipped their hat into the ring last summer that the SEC began to really take the applications seriously.

But the second and equally important reason that these ETF approvals were so important is the implications they have on the overall public sentiment of cryptocurrency. With the approval of these spot Bitcoin ETFs, the cryptocurrency market is graduating in the eyes of traditional finance.

Blackrock and Fidelity both carry a ton of weight in name recognition alone and it means a lot for them to put their names behind Bitcoin related trading vehicles. Many investors and TradFi players have been waiting for a signal to invest in crypto and the ETF approvals might have been the green light.

Soon Bitcoin and these ETFs will be hot commodities for the TradFi entities, financial managers, and funds alike. But those guys move slowly. Right now, retail investors have the opportunity to jump in ahead of TradFi players and pile up as much Bitcoin and crypto exposure as possible before the big guys start buying.

But the crypto market hasn’t been asleep at the wheel waiting for traditional finance tycoons to jump in. Bitcoin has been moving upwards for months now, and the price action has really started heating up here in 2024. BTC is currently trading above $52,000 for the first time since late 2021 and is now only a little over 30% away from hitting its previous all-time high.

Past Bitcoin bull markets have shown that after Bitcoin crosses above its previous bull market high, the action heats up very quickly. That means we are getting closer and closer to the wild and raucous crypto bull market action that this space has become known for.

The good news and positive price action isn’t just limited to Bitcoin and the crypto blue chips. Altcoins are also having their time in the sun right now, and some projects have been blasting off to higher prices. Some of my favorite projects are reaching levels they haven’t seen since the last bull market.

Chainlink (LINK) has risen to over $19, a level it hasn’t touched since early 2022 just after the last bull market ended. LINK is up just about 30% since the start of the year and has been heating up lately.

LINK will likely establish itself above $20 in the coming days but won’t have much resistance until the $25 level. Chainlink hit a high of over $52 in the last bull market, meaning it’s still trading for less than half its all-time high.

Chainlink isn’t some random project either. LINK is a major component of the overall Decentralized Finance (DeFi) ecosystem and its oracle protocol is second to none. There is plenty of reason to think that Chainlink could reach and even surpass its previous all-time high in the coming bull market.

LINK certainly isn’t the only altcoin heating up right now. There are many more, some of them popular altcoins from previous bull markets, together with other lesser known newer projects.

However, not every project will muster up the momentum to break its previous high. Plenty of research and analysis are needed to weed out the good crypto projects from the poor ones. The good news is, I do the homework for you.

If you aren’t invested in this market yet, now is the time to begin planning your exposure to crypto. Don’t fear, there’s no need to develop your plan on your own. I’ll be launching a new newsletter, Crypto Investing Daily, in which I’ll thoroughly cover the market and provide guidance. Keep your eyes out for our first edition, which launches soon.

Editor’s Note: As the above article makes clear, crypto represents a lasting revolution in finance, investing and consumer behavior. Consider this: Bitcoin, the leading “blue chip” cryptocurrency, gained a whopping 156% in price in 2023. This bullishness has extended throughout the crypto segment and the momentum is likely to continue throughout 2024.

Every portfolio should have some sort of exposure to crypto. But you need to be informed, to make the right choices. Start receiving our FREE e-letter, Crypto Investing Daily. Click here now!