As a seasoned crypto investor with over a decade of experience in this rollercoaster ride, I must say that the market has been nothing short of unpredictable. The last seven days have been a testament to the volatility we’ve all come to know and love (or dread, depending on your perspective).
Happy Holidays to everyone! Regardless of whether or not it’s your tradition, our warmest wishes extend to all of you for prosperity and happiness in the coming year and beyond!
Discussing vacation time, Bitcoin appeared to offer us a fresh surge, yet alas, the Grinch – or rather, sellers – showed up and dampened the spirit. The past week has been quite turbulent as far as price fluctuations are concerned. Bitcoin climbed up to $99K over the weekend, but the bears were swift in their response, triggering a severe downturn that persisted for several days, pushing the value down towards $92,000.
However, on Christmas Eve, the bulls managed to drive prices back up to $99,000, rekindling expectations of a late-year market surge. Regrettably, these aspirations proved unfounded.
The cost has rapidly returned to roughly $96,000 – not far off where it stood a week ago, demonstrating the significance of avoiding high levels of borrowing due to sudden shifts like this that can swiftly disrupt your investment holdings and lead to unwarranted setbacks.
Moving on, some intriguing advancements were made. The incoming President of the United States, Donald Trump, emphasized his administration’s ambitious intentions for the industry, stating they aim to achieve something remarkable with cryptocurrency. He stressed the importance of the U.S. not lagging behind countries such as China in this technological area, which is hardly surprising given China’s recent strides. In summary, it’s encouraging news.
Additionally, it’s worth noting that MicroStrategy has made another significant purchase of Bitcoin. Earlier today, they acquired over 5,000 Bitcoins, thereby extending their lead as the world’s foremost corporate Bitcoin owner by a substantial amount.
It’s worth mentioning that other businesses are adopting Michael Saylor’s approach, such as KULR Technology Group, a publicly-traded company on the New York Stock Exchange. They recently invested $21 million in Bitcoin and disclosed plans for a long-term purchasing strategy, which is an extension of their broader business policy.
To wrap up, here’s our final weekly market summary for the year 2024. We can’t wait to reconnect with you all in the new year! The anticipation for what 2025 holds is truly electrifying – may it be just as wonderful!
Market Data
Market Cap: $3.5T | 24H Vol: $157B | BTC Dominance: 54.4%
BTC: $96,368 (+2.6%) | ETH: $3,393 ( +4.9% ) | XRP: $2.19 (+1.5%)
This Week’s Crypto Headlines You Can’t Miss
Exploring Cryptocurrency Price Predictions for 2024 by Notable Figures: Were They Accurate or Off Target?
As an analyst, I can rephrase the statement as follows: “I, as an observer, understand that President-elect Donald Trump has expressed interest in cryptocurrencies like Bitcoin. His intention appears to be leveraging this technology to achieve something remarkable for the United States, as he aims to prevent any potential advantage China might have in this domain.”
On this particular Monday, MicroStrategy, led by Bitcoin advocate Michael Saylor, added another 5,262 bitcoins to its holdings, extending a trend that’s become quite familiar.
The amount of Bitcoin held by Binance has reached its lowest point in 2024 this week, suggesting there might be less selling pressure and potentially a sudden increase in demand, which could be an indication of a bullish reversal for Bitcoin’s price trend.
Binance, the world’s top cryptocurrency exchange, has endorsed a plan to test Bitcoin payments at a Thai tourist attraction as part of an effort to promote wider cryptocurrency adoption.
Bitfinex suggests that AI agents, currently a popular topic, could significantly transform the entire crypto world by utilizing smart contracts.
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2024-12-27 16:54