Bitcoin has fallen below $100,000, raising questions about whether this is the end of the bull market or a healthy correction. Analysts attribute the decline to market makers' strategies and predict a bounce back to $101,000, supported by strong buying in the $93,788-$92,200 range.Meanwhile, BlackRock's significant investments in Bitcoin, including a $1.5 billion purchase, highlight institutional confidence in the cryptocurrency, contrasting with broader market selling. The Fear and Greed Index remains in the 'greed' zone, suggesting many view the dip as a buying opportunity.
The cryptocurrency market remains highly volatile, with Bitcoin recently reaching $95,642.11 and Ethereum climbing to $3,311.98. Analysts predict potential growth for both, with Bitcoin possibly exceeding $100,000 and Ethereum surpassing $5,000 by 2025, driven by mainstream adoption and its role in NFTs and DeFi. However, investors must navigate significant risks, including market unpredictability, security concerns, and regulatory uncertainties.
MicroStrategy's Michael Saylor advocates for Bitcoin as a key asset for corporate treasuries, despite criticism labeling the company's model a "giant scam." Major firms like Marathon Digital, Tesla, and Coinbase are accumulating Bitcoin, while others like Microsoft remain skeptical. Shareholder proposals at Amazon and Genius Group reflect a growing trend of companies exploring Bitcoin's potential as a hedge against inflation and a strategic asset.
Dogecoin has recently experienced a significant price drop, breaking below key support levels, but has since shown signs of recovery, currently trading at $0.34 after a 27% increase. Technical analysis indicates that the cryptocurrency has entered the Gaussian Channel, which may serve as a support level and could lead to a potential 100% rally to $0.69 if momentum continues. Key resistance to watch is at $0.355, the upper boundary of the Gaussian Channel.
The Straits Times Index (STI) fell 2.43% this week, closing at 3,719.93 amid global economic concerns. CapitaLand Investment announced a S$162 million sale of its stapled securities and plans to acquire Wingate Group's investment management business for A$200 million. Jardine Matheson Holdings saw a significant decline of over 7%, while the U.S. markets continued their downward trend despite a late-week rally.
MicroStrategy's Michael Saylor advocates for Bitcoin as a corporate treasury asset, despite criticism labeling the company's model a "giant scam." Major firms like Marathon Digital, Tesla, and Coinbase hold significant Bitcoin reserves, while others, including Amazon and Genius Group, explore adopting similar strategies to enhance shareholder value amid economic uncertainties.
XRP has rebounded 20% after a 23% drop, with whale investors accumulating 80 million XRP, indicating confidence in its long-term potential. Currently trading at $2.35, it must reclaim the $2.60 resistance to sustain bullish momentum, while holding above $2 is crucial to avoid further declines.
Bitcoin has experienced a significant crash, dropping 15%, while altcoins have plummeted between 30% and 70%. This downturn is attributed to manipulation by major banks and institutions, with predictions of further declines ahead. Investors are advised to wait for Bitcoin to reach around the 85k range for a more favorable buying opportunity, as the market is expected to stabilize before the next upward movement.
MicroStrategy has appointed former Binance.US CEO Brian Brooks, along with Jane Dietze and Gregg Winiarski, to its board of directors, expanding the board to nine members. This announcement follows MicroStrategy's inclusion in the Nasdaq-100 Index, effective December 23. Brooks, who previously served as acting Comptroller of the Currency, is noted for his significant connections in the banking and crypto sectors.
Raiffeisen Bank International (RBI) has shown a strong performance in 2024, with shares priced at EUR 19.35, reflecting a 5.45% monthly increase and a 2.79% rise year-on-year. The bank is distributing a dividend of EUR 1.25 per share, and its market capitalization stands at EUR 6.4 billion. However, recent analyses indicate that shareholders may need to consider urgent actions regarding their investments.
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