MANILA, Philippines — The cryptocurrency market has once again found its footing, with the total market cap recovering in 2024.

According to crypto educator Coach Miranda Miner, this resurgence follows the US Securities and Exchange Commission’s approval of the spot Bitcoin ETF.

“The bull cycle in 2021 saw the entire crypto market hit nearly $3 trillion, but it faced a sharp decline,” Coach Miranda told BNC’s “Follow The Money.”

As of January 2024, Bitcoin itself holds a market cap of $1.2 trillion, signaling renewed interest from institutions like BlackRock and Fidelity, whose ETF offerings have added credibility and liquidity to the space.

The Philippines, ranked eighth globally in crypto adoption, has seen significant growth, largely thanks to regulatory clarity from the Bangko Sentral ng Pilipinas (BSP).

“Licensed platforms and on-ramp solutions like CoinsPH and GCash are helping Filipinos invest safely,” Coach Miranda explained. Regulatory frameworks help hold bad actors accountable, making it safer for retail investors.

However, Coach Miranda also argued that crypto should remain decentralized, giving investors the freedom to decide how to manage their money.

Addressing the “get rich quick” mentality often associated with cryptocurrency, Coach Miranda pulls no punches: “Crypto is not for everyone, and it’s definitely not for minimum wage earners.”

His advice? Build an emergency fund, secure insurance, and strengthen both your financial and mental fortitude before diving into this highly volatile market.

Catch the full interview with Miranda Miner on “Follow the Money,” only on BNC.