{ }
Dogecoin (DOGE) has experienced a significant decline, losing over 25% of its value in just 36 hours, dropping to a 5-week low of $0.31. Analysts warn that it may test key support levels around $0.22, with potential rebounds targeting $0.40894 and $0.65557, indicating a possible 165% increase if recovery occurs. Investors are advised to monitor the situation closely as volatility remains high in the crypto market.
Robinhood CEO Vlad Tenev discusses the company's rapid growth in the crypto sector, driven by events like election night and the popularity of assets like Dogecoin. He highlights the strategic embrace of stablecoins, staking, and prediction markets, while addressing regulatory changes and the potential of blockchain technology to reduce costs for investors. Tenev also shares insights on how stablecoins can protect wealth amid economic instability.
Hong Kong is expediting its digital assets licensing, with authorities focusing on regulatory improvements and potential inclusion of Bitcoin in reserves, while South Korea's digital asset reforms are stalled due to martial law, delaying key initiatives like securities token offerings and real-name corporate accounts. The political crisis in South Korea has shifted attention away from virtual asset legislation, pushing timelines for reforms to 2025.
Dogecoin (DOGE) plummeted 12.4% to $0.31 amid a broader market decline following the Federal Reserve's hawkish outlook, with trading volume surging 67% to $10.25 billion. The meme coin is now down 35% from its 2024 high of $0.47, while its market cap remains at $46.6 billion. Other cryptocurrencies, including Ethereum and XRP, also faced significant losses, reflecting heightened sensitivity to macroeconomic signals.
The cryptocurrency market faced significant declines, with Bitcoin dropping below $96,000 for the first time in over a month, while Ethereum and Dogecoin also retreated sharply. Over $1 billion was liquidated in the last 24 hours, primarily from long positions, as market sentiment weakened. Analysts warn that if Bitcoin fails to hold the $96,000 support, it could fall further to $90,000 and $85,000, signaling a potential corrective phase.
UBS strategists, led by Andrew Garthwaite, predict a potential S&P 500 surge amid bubble conditions, noting that while the index has risen 23% this year, it hasn't yet entered a bubble due to restrictive monetary policy. They identify six of seven necessary bubble conditions, with the missing element being a looser monetary stance, suggesting a federal funds rate around 3.2% is needed. UBS estimates a 35% chance of a bubble by 2025, with the S&P 500 possibly surging by at least 20%, recommending investments in reasonably priced AI and electrification stocks like TSMC and Meta to hedge against risks.
UBS strategists, led by Andrew Garthwaite, predict a potential S&P 500 surge amid bubble conditions, noting that while the index has risen 23% this year, a loose monetary policy is still absent. They identify six of seven bubble conditions met, with a federal funds rate of around 3.2% needed to trigger a shift of funds into stocks. UBS estimates a 35% chance of a bubble by 2025, suggesting a possible 20% increase in the S&P 500, and recommends investing in reasonably priced AI and electrification stocks like TSMC and Meta to hedge against risks.
Bitcoin's price recently fluctuated, dropping below $99,000 before rebounding to $104,000, settling at $100,573, marking a 3.4% decrease in a day. Exchange transaction volumes have hit record lows, indicating reduced trading activity, while a significant support zone has formed just below $100,000, with over 1.45 million BTC accumulated at an average price of $97,500. Analysts suggest that maintaining this support level is crucial for price stability, with potential for recovery if it holds, while a breach could lead to further declines.
A recent crypto market sell-off triggered $1 billion in leveraged liquidations, primarily affecting long positions. Bitcoin, despite dropping below $96,000, has gained 130% this year, while the total crypto market cap fell 9.5% to $3.4 trillion. The Fed's hawkish stance following a rate cut decision has contributed to market volatility, with many traders viewing the pullback as a healthy correction.
Investing in the stock market can be a challenging and lengthy journey, often spanning years or even decades. Recent events, such as a 2.9% drop in the S&P 500, may seem alarming, but they fall within historical norms, with 2024 proving to be relatively calm compared to average market fluctuations.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.