Russia will impose a six-year ban on cryptocurrency mining in ten regions starting January 1, 2025, affecting both individual and pool mining activities. Seasonal restrictions will also be implemented in three Siberian regions during peak energy consumption periods. These measures aim to prevent energy blackouts and align with recent cryptocurrency mining laws.
The Swiss stock market faces a challenging outlook, with the SMI index showing signs of a potential short-term recovery after a recent decline. However, it closed below the critical 11,400 - 11,600 support zone, indicating a bearish trend ahead, particularly with a "head-and-shoulders" pattern suggesting further corrections in the coming months. Key upcoming events, including Fed speeches and US employment reports, will be crucial for determining the market's direction.
IG
Ether has risen over 3% in the last 24 hours, nearing $3,500, while Bitcoin lags behind with a 1% decline. The iDEGEN pre-market auction has surpassed $8.5 million, selling nearly 1.1 billion tokens, as the project aims to merge AI with the memecoin ecosystem. With strong altcoin recovery signals, iDEGEN could emerge as a top performer in the upcoming altcoin season.
Shiba Inu (SHIB) has fallen 17% over the past week, currently holding a market cap of $13.2 billion, while analysts suggest it may rebound by 20% if it breaks key resistance levels. Bitcoin (BTC) experienced volatility, dropping from a peak of $108K to around $94K, influenced by Federal Reserve comments and significant ETF outflows. Dogecoin (DOGE) also saw a 20% decline, but some analysts predict a potential parabolic rally based on historical trends.
A prominent crypto analyst warns that Bitcoin could drop over 24% if it fails to hold a critical support zone between $97,041 and $93,806, potentially plummeting to $70,085. Currently trading at $93,235, the market shows minimal support below this range. Meanwhile, Cardano (ADA) may replicate a pattern from 2020, with the potential for a 597% surge, currently priced at $0.86.
UBS has maintained a Buy rating on Croda International, projecting a 2% pre-tax profit beat in its upcoming 2H24 results, with a price target of £51.00. The firm anticipates fourth-quarter sales of £438 million, driven by 5.3% organic sales growth, and expects the company to report a pre-tax profit of £131 million, indicating a positive shift in earnings trends. Croda's strong fundamentals, including a gross margin of 43.86% and a current ratio of 2.72, support its consistent dividend payments over 33 years.
Dogecoin has recently shown a bullish signal on its daily chart, indicating a potential parabolic run ahead. Currently trading at approximately $0.32065, the meme coin has experienced a 20% decline over the past week, but a buy signal from the TD Sequential indicator suggests a possible rebound. Analyst Ali Martinez noted that if DOGE mirrors its past price actions from 2017 and 2021, it could see a staggering 5,000% increase, potentially reaching $18.
A viral $0.12 altcoin is gaining traction, surpassing Sui Blockchain with 575% yearly gains and potential for 100x returns post-listing. Meanwhile, Cardano has surged past $1, fueled by optimism following Trump's election victory and a robust five-year roadmap. DTX Exchange is also making waves, raising $10.5 million in presales and promising significant returns with its innovative trading technologies and 1000x leverage.
Crypto ETFs are set for significant growth in 2025, with expectations for new products including Solana and XRP ETFs, driven by a more favorable regulatory environment under a new administration. The approval of Bitcoin and Ethereum ETFs has paved the way for broader asset offerings, while the SEC's clarity on crypto asset classifications is anticipated to enhance the approval process. Analysts predict that institutional interest will rise, particularly in Ethereum staking, as the market matures and integrates further into traditional finance.

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