Gold price attracts some buyers to near $2,720 in Monday’s early Asian session.
Heightened geopolitical tensions between Russia and Ukraine lift the Gold price.
The cautious stance from the Fed might cap the upside for Gold.
The Gold price (XAU/USD) jumps to around $2,720 during the early Asian session on Monday. The sell-off in the US Dollar (USD) provides some support to the USD-denominated Gold price. Additionally, rising geopolitical tensions continue to underpin safe-haven assets like yellow metal.
Investors will closely monitor the developments surrounding the Russia-Ukraine conflicts. Last week, Russian President Vladimir Putin lowered the threshold for a nuclear strike in response to a broader range of conventional attacks, days after reports said Washington DC, had allowed Ukraine to use US-made weapons to strike deep into Russian territory. This, in turn, might boost the safe-haven flows, benefiting the precious metal price.
“It’s really one main geopolitical factor that’s at play here in the gold market over the course of the last several days – the increased tensions between Ukraine and Russia is probably most notable,” noted David Meger, director of metals trading at High Ridge Futures.
On the other hand, several Federal Reserve (Fed) officials remain cautious about rate reductions, which might cap the Gold’s upside. The market is adjusting its expectations for the Fed’s cuts next year as inflation is becoming a bigger concern. Higher rates reduce the appeal of gold. According to the CME FedWatch Tool, futures traders are now pricing in 50.9% odds that the Fed will cut rates by a quarter point, down from around 69.5% a month ago.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
On Nov. 21, the U.S. Food and Drug Administration (FDA) announced the recall of hyaluronic acid supplements sold on Amazon.
The company MXBBB is voluntarily recalling one lot of “Umary” acid hyaluronic, 30 caplets (850 mg), for consumers. Laboratory analysis by the FDA confirmed that the product contains the active ingredients omeprazole and diclofenac.
What Are Diclofenac and Omeprazole?
Diclofenac, an NSAID (non-steroidal anti-inflammatory drug), poses potential risks such as increased cardiovascular events, including heart attack and stroke, and severe gastrointestinal damage, such as bleeding, ulcers, and potentially fatal perforation of the stomach and intestines.
“This hidden drug ingredient may also interact with other medications and significantly increase the risk of adverse events, particularly when consumers use multiple NSAID-containing products,” the FDA said.
Omeprazole, a proton pump inhibitor (PPI) used to treat stomach acid-related disorders, may cause serious side effects, including skin reactions, abdominal pain, diarrhea, nausea, and headaches.
“This hidden ingredient may mask stomach issues such as erosion, ulcers, and stomach cancer, and it can also interact with other medications and should not be taken with certain medications,” the FDA said.
As of publication time, MXBBB has not received any reports of adverse events associated with this recall.
What Supplements Are Being Recalled?
The affected bottles have a UPC code of 7502265120323, a lot number of 24183, and an expiration date of July 1, 2028.
According to the FDA, 321 units of the product were distributed to customers.
“MXBBB is notifying its customers by Amazon and is arranging for the return of all recalled products. Consumers that have Umary which is being recalled should stop using/return to place of purchase for a full refund,” the FDA stated in its release.
“Consumers with questions regarding this recall can contact MXBBB by email [email protected] seven days a week, 24-hours a day.”
Multiple Recalls of Umary Products This Year
This isn’t the first time this year that Umary products have been found to have the same issues. The FDA has issued multiple warnings this year regarding Umary products due to the presence of undeclared drug ingredients.
In June 2024, the FDA warned consumers against using Umary products after tests revealed hidden ingredients, again including diclofenac and omeprazole, which were not listed on the labels.
The FDA issued additional warnings in July and September 2024 after detecting more undeclared substances in products labeled Umary or Amazy by companies such as SoloVital and Main Products. The agency again highlighted that these hidden ingredients could interact with other medications, increasing the risk of severe adverse events, especially when combined with other NSAID-containing products.
Consumers are urged to stop using Umary products and consult healthcare professionals if they have concerns or experience adverse reactions. The FDA also encourages reporting side effects through its MedWatch Safety Information and Adverse Event Reporting Program.
According to data provided by cryptocurrency analytics CoinGlass, $495 million worth of crypto has been liquidated over the past 24 hours.
Long positions account for the vast majority of these liquidations ($382.7 million).
Overall, 197,083 traders were liquidated over the past 24 hours, with the largest liquidation taking place on Binance ($13.24 million).
Binance, OKX, and HTX are in the lead when it comes to the amount of liquidated crypto.
The latest string of liquidations amid a significant market correction.
Related
XRP plunged by more than 10% earlier this Sunday before paring some losses. It is still up by nearly 30% over the past week.
Bitcoin, the leading cryptocurrency by market cap, also plunged to the $95,000 level after failing to touch $100,000 on Friday.
As reported by U.Today, Galaxy Digital CEO Mike Novogratz recently warned that corrections were “inevitable” due to high leverage. However, he is convinced that Bitcoin will eventually reclaim $100,000.
Meanwhile, whales are still accumulating Bitcoin following the recent price dip. As noted by the firm, six new wallets withdrew 1,110 BTC from the Binance exchange in just hours.
“While you’re selling, someone else is buying. Take a moment to think—are you smarter than those accumulating thousands, or even tens of thousands, of Bitcoin in custodial wallets?” CryptoQuant Ki Young Ju said in a recent social media post.
Even though many market analysts are sounding the alarm about Bitcoin being overbought, Matthew Sigel, head of digital asset research at VanEck, recently pointed out that this was also the case during previous market cycles.
“You’re right that Bitcoin is currently 28% above its 50-day moving average, and that’s high. But in prior cycles we routinely hit 40%+ and stayed there,” he said in a recent social media post.
Canada’s CPI (inflation) rose from -0.4% to 0.4% month-on-month, a fraction higher than the expected 0.3%.
UK Monetary Policy Report Hearings
US Unemployment Claims – this was almost exactly as expected.
UK Retail Sales – this was considerably worse than expected, showing a month-on-month decline of 0.7%, while a drop of only 0.3% was widely forecast.
Canada Retail Sales – as expected.
US, German, UK, and French Services & Manufacturing PMI: The US data was strong and healthy, but the other countries saw weaker-than-expected numbers.
Apart from the inflation data, there were no data points last week that were truly interesting to the market, and even inflation is no longer the concern it was some months ago. Markets are more interested right now in global growth and the likely appointments of the upcoming Trump administration, which will take power in January. We saw US and European stock markets gaining again last week as risk sentiment in parts of the world improved.
The Week Ahead: 25th – 29th November
The coming week’s schedule is again relatively light. Still, it has some important inflation-related data (including in the USA) and central bank releases from the US Federal Reserve and the Reserve Bank of New Zealand.
US Core PCE Price Index
US CB Consumer Confidence
US Preliminary GDP
US FOMC Minutes
German Preliminary CPI (inflation)
Australian CPI (inflation)
Canadian GDP
Reserve Bank of New Zealand Official Cash Rate, Rate Statement, and Monetary Policy Statement
Chinese Manufacturing PMI
US Unemployment Claims
Monthly Forecast November 2024
I made no monthly forecast for November, as the long-term trends in the Forex market were too unclear.
Weekly Forecast 24th November 2024
I made no weekly forecast this week, as there were no unusually strong directional price movements over the past week, which is the basis of my weekly trading strategy.
Last week, the Australian Dollar was the strongest major currency, while the Euro was the weakest. Like the previous week, one-third of the most important Forex currency pairs and crosses changed in value by over 1%.
Last week, the US Dollar Index printed a bullish candlestick that continued the recent breakout beyond the resistance level at 105.81, as well as the upper trend line of the formerly dominant consolidating triangle chart pattern, which can be seen in the price chart below. The price reached a new 2-year high. These are bullish signs, but it should be noted that the candlestick has a large upper wick, showing that the Dollar struggled to hold some of its gains. Another bearish note is hit by the price retreating from a high very close to the nearest overhead resistance level at 107.95.
The price is above its levels from three and six months ago, suggesting a long-term bullish trend in the greenback that should be exploitable.
The strong US Dollar is supported by the expectation that the new Trump / Republican control of the executive and legislature in the USA will lead to a more hawkish monetary policy. This has been evidenced by the strong increase in US Treasury Yields over recent weeks.
I have plenty of technical and fundamental reasons to be bullish on the US Dollar. However, the upside over the coming week might be limited, so long-term trades long of the USD might be more successful than short-term trades.
Bitcoin
Bitcoin saw another week of extraordinary gains as it powered to new all-time highs, topping just below the big round number at $100,000, which has still not been reached. The price rose by almost 10% last week.
There is no reason not to be bullish except that the price is now very close to the huge six-figure round number at $100,000. If the price arrives at, or very close to, that point, we will likely see massive profit taking as there will be a 25% gain within just a few weeks, an enormous rise in value for any asset. So, this leg of the bull run, or this whole trend, may not have much further to run.
Bitcoin received a significant boost from the election victories of President Trump and Congressional Republicans in both Houses. Republicans are seen as more likely to favour lighter regulation of cryptocurrency, so their ascendancy has boosted both crypto in particular and risk sentiment in general, which also helps a risky asset like Bitcoin.
It is smart to be long of Bitcoin, but be mindful of $100,000 as a potentially strong barrier. With such momentum and strong gains, a trend or momentum trader should be interested. However, waiting for a daily (New York) close above $100,000 before entering a new long trade in Bitcoin will probably be wise.
Note that Bitcoin ETFs are not getting the full gain made by the underlying, so if you can afford it, you might want to buy Bitcoin futures instead of a Bitcoin ETF or even spot Bitcoin. There are Bitcoin micro futures available on the CME, which are only sized at 10% of the value of one Bitcoin.
EUR/USD
Last week, the EUR/USD currency pair printed a relatively large bearish candlestick, which made the lowest weekly close seen in almost two years. The weekly candlestick closed some way from its low, with a noteworthy lower wick on the candlestick. The price is below its levels from both 3 and 6 months ago, which is my preferred metric for calling a long-term bearish trend. The US Dollar Index is also in a long-term bearish trend. A final bearish filter is that the 50-day moving average is below the 100-day moving average, which validates the trend.
There are plenty of reasons to be short here, but I am a bit concerned about Friday’s spike lower and the fairly strong bounce. However, the price feels heavy, and lower prices are likely over the coming week.
A shorter-term approach is to look for short swing trades from retests and rejections of resistance levels above the current price.
The H1 price chart below shows how the price action rejected this support level with a small hourly pin bar, marked by the up arrow within the price chart below. This rejection occurred soon after the start of the overlap of the London / Tokyo sessions, which can often be a great time for reversals in Japanese Yen currency pairs and crosses.
Note that this multi-candlestick reversal took a while to set up, but it was worth the wait for a decisive change in direction.
So far, this trade has given a maximum profit of slightly more than 1.5 to 1.
The US Dollar remains in a long-term bullish trend, and the Japanese Yen is prone to weakness, so long trade setups in this currency pair might be something to watch out for.
The H1 price chart below shows how the price action rejected this support level with a strong hourly inside bar, marked by the up arrow within the price chart below. This rejection occurred soon after the start of the overlap of the London / New York sessions, which can often be a great time for reversals in the US Dollar.
So far, this trade has given an excellent maximum profit approximately 1.5 to 1.
The US Dollar is in a strong long-term bullish trend, and the Swiss Franc is relatively weak, like the Euro with which it is strongly positively correlated, so there may be more opportunities for long trades here over the coming days and weeks.
NASDAQ 100 Index
The NASDAQ 100 Index rose last week, closing right on the high of its range, which is a bullish sign. This is a healthy bullish rebound within a long-term bullish trend. The linear regression analysis applied in the price chart below also shows a consistent bullish trend over the shorter term.
The strong trend and the election victories of Trump and Congressional Republicans have provided a tailwind for higher stock market prices in the USA. Notably, many other countries are seeing their stock markets struggling, partly due to fears that the new Trump administration will impose tariffs on US imports.
The question now is whether the price will continue to rise and make a new record high above the record high it set a couple of weeks ago.
I see the NASDAQ 100 Index as a buy once it makes a new record high closing price.
S&P 500 Index
My analysis of the S&P 500 Index is exactly the same as my analysis of the NASDAQ 100 Index above.
Bottom Line
I see the best trading opportunities this week as
Long of Bitcoin in USD terms following a daily (New York) close above $100,000.
Short of the EUR/USD currency pair.
Long of the NASDAQ 100 Index following a daily (New York) close above 21,139.
Long of the S&P 500 Index following a daily (New York) close above 6,002.
This year, Bitcoin has seen one of the biggest price pumps in its history. Currently ranked as the seventh most valuable global asset, Bitcoin also rivals the market capitalizations of the world’s largest corporations.
With BTC price currently traded at almost $100,000, most analysts anticipate the price to exceed this level.
Looking ahead, these dynamics suggest that Bitcoin could see substantial growth in 2025, driven by a mix of macroeconomic conditions, institutional participation and seasonal market behavior.
Bitcoin price prediction for January 2025
Peter Brandt, a well-known trader and market analyst, has highlighted two consistent features of past Bitcoin bull market cycles:
Dominant Parabolic Trends
Each bull market has been marked by a parabolic price increase. However, the strength of these parabolic movements has declined with each cycle.
After breaking out of its parabolic rise, Bitcoin has historically experienced a sharp correction, typically around 80% (±5%) from its peak.
Brandt has shared the current parabolic profile for Bitcoin, noting that while the pattern is clear, the exact trajectory may evolve as the market progresses.
If the chart proves to be right, the Bitcoin rally might continue in January. However, the chart also suggests a substantial correction in 2025.
Could there be Bitcoin bubble?
Bitcoin’s price has been conditionally “overheated” in the past when it exceeded its 200-day moving average by 100% or more. This wasn’t the case in March, so there was no “bubble burst.” Instead, the market experienced a typical correction for this volatile asset, followed by a trend resumption.
Currently, the gap between the price and the 200-day moving average is even smaller than it was in March — 40% compared to 70%. This suggests that there’s little reason to label the current market a “bubble.”
The Bitcoin Seasonality chart currently indicates that BTC is nearing a local peak, coinciding with the $100,000 level. This development is further underscored by a sharp 16% one-day drop in MicroStrategy (MSTR) shares, a reliable leading indicator during Bitcoin’s recent rally.
While this alignment does not ensure a correction, the combination of these factors suggests an increased probability of a temporary pause in Bitcoin’s upward momentum. If a correction occurs, it is expected to be a precursor to continued growth, which may extend well into 2025.
Bitcoin mining and hash rate
Bitcoin hashrate refers to the overall computational power that miners contribute to the Bitcoin network. It represents the total number of calculations (hashes) that the network can perform every second to validate and secure transactions.
A hash is an alphanumeric code generated randomly, and hashing involves attempting to guess that code or something very close to it.
The hash rate represents the number of guesses per second made by computers on the network, whether it is from a single miner, a mining pool, or the entire network combined.
Related
A higher hashrate indicates a more secure network, as it becomes increasingly difficult for any single entity to control the majority of the computational power. It also enhances the network’s resistance to attacks and ensures the smooth functioning of transactions.
Bitcoin’s hashrate has recently achieved new highs, marking a significant milestone for the cryptocurrency’s network security and mining efficiency.
Bitcoin Hashrate Hits All-Time High
“After the halving, there was a noticeable decrease in hashrate, but with the replacement and upgrading of existing mining equipment, the hashrate began to trend upwards starting in July.” – By @DanCoinInvestor
According to a new CryptoQuant report, this increase in hashrate comes after a drop following the latest Bitcoin halving event.
2024 halving effect
In the three months leading up to the fourth halving in April 2024, the price of Bitcoin experienced one of its largest bull runs in history. During this period, Bitcoin surged by 180%, reaching an all-time high of $71,000, a remarkable milestone since the beginning of the year.
Source: IntoTheBlock
Crypto analyst Ali Martinez suggested in December that the forthcoming Bitcoin halving could fuel an extended period of bullish trends for the leading digital asset.
#Bitcoin design around four-year cycles, driven by its #halving events, often mirrors its price action.
Historically, this translates to 3 years of bullish trends followed by 1 year of bearish correction. As per this cycle, $BTC is in an upward phase, potentially extending… pic.twitter.com/7B4sIpiWH8
The previous halving occurred in May 2020, reducing block rewards from 12.5 BTC to 6.25 BTC, a level that remained until the fourth halving in April 2024. In the six months leading up to the 2020 halving, Bitcoin surged by 300% in price, following a trend similar to previous halving cycles.
Since Bitcoin’s inception, there have been four halving events, with the latest occurring April 19, 2024.
Date
Price 1 month prior
Price 1 month after
Nov. 28, 2012
$10.26
$13.42
July 9, 2016
$583.11
$597.5
May 11, 2020
$6,909.95
$9,850
April 21. 2024
$67,911
$70,135
However, just before the 2020 halving, Bitcoin experienced a major market crash on March 11, 2020. The price plummeted from $7,944.05 to $4,857.31, marking a significant 38.85% decline.
Bitcoin has defied bearish market conditions, showcasing remarkable resilience and evolution over the past year. Despite challenges, it has surged in on-chain activity, strengthened its market structure and emphasized its scarcity, challenging outdated perceptions and emerging stronger than ever.
Is BTC risk-off asset?
In the banking sector, a risk asset is one whose value may fluctuate due to changes in interest rates, credit quality, repayment risk and other factors.
In a risk-on environment, investors venture further along the risk spectrum, with stocks typically outperforming “safer” assets like bonds. They seek substantial rewards from risks they deem worthwhile in a growing market environment.
Ark Invest highlights Bitcoin as a groundbreaking monetary system combining financial sovereignty, transparency and minimized counterparty risk. As the first decentralized, global, rules-based digital monetary system, Bitcoin reduces systemic risks inherent in traditional finance, which depends on centralized intermediaries and human intervention.
Related
Ark views Bitcoin as the purest form of money ever created, defined by its unique qualities:
Digital and akin to a commodity.
Scarce, liquid, divisible, portable, transferable and fungible.
Fully auditable and transparent.
Custodiable without liability or counterparty risk.
Bitcoin has previously demonstrated safe-haven qualities, notably outperforming during the regional banking crisis in early 2023. However, its status as a reliable long-term asset remains debated due to its relatively short history and extreme volatility, which appeals to short-term traders, according to Ark Invest.
The surge in Bitcoin is driven by both retail and institutional investors, with U.K. pension funds and asset managers exploring crypto exposure. BlackRock’s spot Bitcoin ETF has already amassed billions in assets, highlighting growing mainstream adoption.
Bitcoin ETFs: Record-high inflows
The ETF’s record-breaking growth underscores Bitcoin’s rising legitimacy as an asset class, signaling unprecedented mainstream acceptance. Recently, Bitcoin ETFs have surpassed $90 billion in total assets.
This institutional momentum, led by a traditional finance giant like BlackRock, could fuel further Bitcoin price appreciation and solidify its role in a maturing market.
BlackRock’s Bitcoin ETF has recently achieved a historic milestone, amassing $40 billion in assets within just 211 days — nearly six times faster than any previous ETF record. This success has catapulted the ETF into the top 1% by asset size and even surpassed BlackRock’s own Gold ETF, reflecting a seismic shift in institutional adoption of Bitcoin.
The outlook for Bitcoin ETFs appears highly promising, with expectations of a potential doubling in capital inflows by 2025. Institutional investment and evolving regulatory frameworks are anticipated to play pivotal roles in attracting new participants to the market, significantly expanding the crypto ETF landscape.
I get asked a lot on intvs whether all Ten btc ETFs will survive and the answer is 100% yes they will all be here in a year. Even the least in aum, $BTCW, has a healthy $74m. Out of the 108 ETFs launched in 2024 so far it ranks 16th. (top 15%). That’s how insane all this is. pic.twitter.com/ZVQ5ho3u2C
Market analysts predict that this confluence of regulatory support and institutional adoption, combined with the post-halving bullish phase, could drive the crypto market to its peak in late summer or early fall 2025. Historically, Bitcoin’s bullish cycles extend approximately 500 days after each halving, suggesting a sustained upward trend through much of 2025.
Michael Saylor’s BTC strategy: USD to Bitcoin
In 2020, Saylor made the strategic decision to protect against currency debasement by investing MicroStrategy’s spare cash into Bitcoin. Around that time, MicroStrategy raised $3.4 billion through various financial instruments to acquire Bitcoin, totaling $4 billion in purchases at increasing prices.
Related
MicroStrategy’s strategy of raising funds through debt and equity to buy Bitcoin has turned its holdings, purchased at an average of $40,000 per Bitcoin, into a $24 billion treasure at current prices near $100,000.
MicroStrategy’s market capitalization surged to an all-time high of $97.50 billion on Nov. 20, propelling the company beyond industry giants like Dell and Spotify. Once relatively unknown, MicroStrategy now stands poised to overtake Intel, which currently holds a valuation of $103.3 billion, according to the latest data.
MicroStrategy recently made headlines with a record-breaking $4.6 billion Bitcoin purchase, bringing its total holdings to $31.2 billion. To meet strong investor demand, the company also increased its convertible note offering to $2.6 billion, underscoring its aggressive Bitcoin acquisition strategy.
The company’s stock has surged 445% this year, benefiting from Bitcoin’s rise to over $91,000. With an average acquisition cost of $49,874 per coin, MicroStrategy has invested $16.5 billion in Bitcoin since 2020, using strategies like issuing 13.6 million shares to fund recent purchases.
Source: TradingView
The company has recently acquired 51,780 BTC for $4.6 billion, raising its total holdings to 331,200 BTC, worth $30 billion. While impressive, this is still less than BlackRock’s iShares Bitcoin Trust, which holds 471,329 BTC.
MicroStrategy positions Bitcoin as a core reserve asset and inflation hedge, inspiring similar moves by other companies like Marathon Digital and Semler Scientific.
If we draw a parallel between crypto markets and traditional resource industries, where the stock performance of sector companies often precedes changes in raw material prices, the recent behavior of MicroStrategy (MSTR) shares might provide valuable insights into Bitcoin’s potential trajectory.
Related
Historically, the correlation between MSTR and Bitcoin has been strikingly strong, as one would expect given MicroStrategy’s substantial Bitcoin holdings.
However, a noticeable divergence has emerged since early October. MSTR’s price broke out of a consolidation phase and surged an additional 50%, while Bitcoin’s price continues to hover at the upper boundary of a similar consolidation pattern.
One possible explanation is that the market may be hesitating to make decisive moves on Bitcoin.
Ark Invest bets on Bitcoin: Price prediction 2030
Ark Invest CEO Cathie Wood expressed optimism about Bitcoin’s ongoing bull market, citing on-chain analytics and broader market analysis as evidence of its strong position.
She reaffirmed her optimistic outlook on Bitcoin, predicting a base price of $650,000 by 2030, with the possibility of reaching as high as $1.5 million under more favorable circumstances.
She highlighted that following Bitcoin’s halving event in April, the cryptocurrency’s supply growth rate dropped to 0.9%. This marks a significant milestone, as it now falls below the long-term supply growth rate of gold for the first time, further reinforcing Bitcoin’s appeal as a scarce and valuable asset in the eyes of investors.
According to data from ARK Invest, Bitcoin’s price as of Nov. 13, 2024, was 1.33 times higher than its previous cycle peak of $67,589 on Nov. 8, 2021.
Notably, Bitcoin’s maximum drawdown during the 2022 bear market was 76.9%, which is a smaller decline compared to previous cycle drops of 86.3% in 2018, 85.1% in 2015 and 93.5% in 2011.
How high will Bitcoin go?
Since the last cycle low, Bitcoin’s price has increased 5.72 times, closely mirroring the 5.18x and 5.93x growth seen at equivalent points in the 2015-2018 and 2018-2022 cycles, respectively.
If Bitcoin continues to follow the average trajectory of these two cycles, its price could potentially increase 15.4 times to around $243,000 during the next year, approximately 880 days after the November 2021 cycle low.
While this multiple exceeded the 2.06x average across all years sampled from 2011 to 2023 and the 2.04x average for halving years such as 2012, 2016 and 2020, it lagged behind some of the highest annual returns in prior cycles.
Source: Glassnode/ARK Invest
As of November, Bitcoin’s performance outpaced historical averages, and projections suggest that if it aligns with past trends, its price could range between $104,000 and $124,000 by the end of 2024, resulting in performance multiples of 2.48x to 2.94x.
Related
With institutional adoption gaining traction and discussions around the U.S. government potentially adding Bitcoin to its strategic reserves, a strong close to 2024 is anticipated, setting the stage for sustained momentum into 2025.
Crypto analysts are mostly bullish on Bitcoin. Peter Brandt predicts BTC price to climb as high as $135,000 in 2025.
Here is the macro picture of Bitcoin $BTC Observations: -Huge gains come in post-half of halving cycles -Period since Mar 2024 appears as insignificant, brief pause in ongoing trend -My target is $135,000 in Aug/Sep 2025 -Close below $48K negates my chart analysis pic.twitter.com/niptj2Umu7
Seasoned investor Ari Paul estimates the potential growth to $125,000 during this cycle.
In a Bitcoin report released on Nov. 21, VanEck analysts projected that the next crypto bull market is “just beginning.” They cited a more favorable regulatory landscape in the U.S. and increasing institutional adoption as key factors that could propel Bitcoin (BTC) to $180,000 within the next 18 months.
Several factors could drive Bitcoin’s continued ascent, including the anticipated deregulation in the U.S. Additionally, further reductions in the Federal Reserve’s key interest rate could create a more favorable environment for speculative assets like Bitcoin.
Another factor is the increasing institutional adoption, with fresh capital flowing into crypto-focused ETFs. Seasonal trends, such as the market’s typical December rally, might also contribute to Bitcoin and broader crypto sector gains as they outpace traditional indices.
It’s important, however, to remember that every bull run has its ups and downs. As highlighted by Peter Brandt, a major correction can take place in spring 2025.
A morning cup of chai and winters around the corner; isn’t that a picture-perfect morning? Tea love is a warm, comforting ritual connecting cultures offering moments of peace and relaxation. Different flavors, wellness quotient, and calming effects make tea a beloved drink worldwide.
Black, white, blue, and green, each tea type offers its distinct flavor and hue. Beyond these traditional varieties, the world has also embraced the unique world of fermented teas. Let us know more about it in this small read.
As awareness of gut health has grown, fermented foods and drinks have gained traction, and they are seen as an easy and tasty way to support digestion and overall gut microbiome health.Fermented teas are products that undergo a fermentation process, where microorganisms such as bacteria or yeast break down the compounds in the tea leaves. This process changes flavour, color, and health benefits of the tea extracts.
As global interest in traditional and holistic wellness practices grows, more fermented teas are being rediscovered as they fit perfectly into the broader trend of functional drinks, that offers more than just taste. People are increasingly looking for beverages that provide energy, immunity support, and relaxation. Fermented teas are often marketed as both functional and flavourful, appealing to those looking for alternatives to sugary sodas or energy drinks. Here are some qualities they have which contribute to their rise:
Probiotic Component
Many fermented teas are rich in probiotics, which promote gut health by supporting a balanced microbiome. Probiotics are associated with benefits like improved digestion, enhanced immunity, and better mental health.
Antioxidant Content
Fermented teas are packed with antioxidants, which help fight oxidative stress and may reduce the risk of chronic diseases. This has contributed to their popularity in health-conscious circles.
Unique Flavor
Fermentation adds layers of complexity to the flavor profile of tea. They can range from sweet to tangy, thus providing a refreshing alternative to sugary sodas.
Acquired Taste
The fermentation process can give tea a distinct, sometimes earthy or funky which appeals to those seeking variety in their beverages.
Traditional Appeal
Fermented teas have a long history in cultures such as China and Eastern Europe. The trend explores the desire for more authentic, locally made, and sustainably produced drinks.
Driven by both health trends and the growing interest in unique flavors and traditional food practices, fermented teas are indeed a connection to traditional food practices, and they resonate with those looking for overall holistic wellness. Check the infographic to learn five well-known fermented teas to add to your wellness regime:
(This article is reviewed by Kalyani Krishna, Chief Content Editor)
Author Profile: Preeti Sharma
Preeti Sharma has a master’s in electronic media and mass communication and certification in short-term writing from Florida. With close to a decade of experience, she specializes in crafting engaging blogs on beauty, veterinary care, and healthy cooking. Preeti is proficient in video editing tools and produces captivating and informative content across multiple platforms.
References:
Modulation effects of microorganisms on tea in fermentation
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Cardano (ADA), the ninth largest cryptocurrency by market cap, has seen an impressive rise in November, increasing by 211% over the last 30 days, according to CoinGecko data.
Cardano tripled its market capitalization, topping the $1.00 mark for the first time since April 2022. ADA has been steadily rising since Nov. 5, reaching $1 for the first time in years on Nov. 22. The advance peaked at highs of $1.15 in Saturday’s trading session, where bulls encountered resistance.
Cardano’s recent price surge might have been driven by various reasons, including increased whale activity and positive market sentiment.
In a Nov. 22 tweet, Ali Martinez, a crypto analyst, indicated whales’ and institutional players’ positioning with the volume of large Cardano (ADA) transactions on the network surpassing $22 billion per day.
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These large transactions appear to be related to high accumulation levels, according to Ali, adding that whales holding from $1 million to over $10 million in ADA have increased their positions by more than 100% in the past month. In the last 24 hours, Cardano’s large transaction volume was up 17.67% to $45.41 billion, or 41.83 billion ADA.
The broader cryptocurrency market saw a bull run with Bitcoin nearing the $100,000 mark. This positive sentiment spilled over into altcoins like Cardano, triggering its surge.
What’s next for ADA
At the time of writing, ADA was trading down 11.26% in the last 24 hours to $0.978 as the crypto market fell due to profit-taking.
Cardano crossed the $1 market value on Friday for the first time in over two and a half years. On this date, Santiment reported that trader realized gains were at their highest in eight months. Over $165 million was seen in realized ADA profits, which is the largest day since March 19, 2024. The highest rate of social media discussion towards ADA has occurred after Dec. 8, 2023.
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Profit-taking from traders might have also contributed to the ADA price drop; however, ADA remains higher by 36% weekly.
ADA price has fallen below $1; if it does not fall below $0.80, it means that the bulls have turned the level into support. This enhances the chances of a return to above $1. If this happens, this may then move up to $1.25.
Contrary to this assumption, if the ADA price falls fast and breaks below $0.80, this may trigger a drop to $0.63.
MCT oil is billed as the wonder food supplement that can boost brainpower and give us endless energy. Fitness fans swear by it to improve physical performance, limit carb cravings and burn fat. It’s easy to digest, takes a liquid, capsule or powder form – and can even be added to your morning “bulletproof” coffee for serious fans (coffee plus butter plus MCT oil).
But while there is certainly a growing hunger for it – with the global market for MCT oil valued at $1.2bn in 2020 – is this odourless oil really as effective as manufacturers claim?
What Is MCT oil?
“MCT stands for medium chain triglycerides. It’s a type of fat, and it’s found predominantly in coconut oil and palm oil,” says Dr Jenna Macciochi, honorary senior lecturer in immunology at the University of Sussex.
The molecular structure of MCTs is shorter than other fats, which makes it easier for the body to digest and turn into fuel, explains Dr Macciochi, who is also head of innovation at Ancient + Brave.
She adds, “Unlike other fats, which have longer chains, MCTs go straight to the liver and can be used as an instant source of energy, bypassing the way we would normally get energy from glucose, which comes from carbohydrates.
“They can be turned into ketones, a different kind of fuel produced when we break down fat. Ketones can cross from the blood to the brain, so it’s an alternative source of energy for the brain, which usually uses glucose for fuel.”
There are different forms of MCT oil: typically, you may see products with C8, C10 or C12 written on packaging, referring to the length of the chain. “C8 and C10 seem to be the most efficient and readily used by the body,” she says.
The health benefits of MCT oil
Managing weight
There are a few ways in which MCTs may help with weight management. One is that they may help us feel fuller for longer. Dr Macciochi says, “MCTs act on special cells on the gut lining, to promote release of hormones which signal fullness in the brain. That can help with that overall calorie intake across the day.”
It may also promote thermogenesis – the burning of calories at rest – and to support fat oxidation – the burning up of fat cells for energy – and can help support those on a ketogenic (high fat, low carb) diet.
A 2015 meta-analysis of studies suggested replacing other saturated fats with MCT oils could help us lose weight.
A boost to the brain
There are positive signs MCTs may benefit our brains. Dr Macciochi says, “Studies show that MCTs can enhance cognitive performance and mental clarity. So we know the brain can use it as a fuel, and it may have these benefits.”
A 2022 study found that Alzheimer’s patients using MCTs saw an improvement or stabilisation of cognitive function: the condition impairs the brain’s ability to use glucose, and ketones may compensate for this. Meanwhile, a study suggested MCTs may boost memory in older adults without dementia, while another found younger healthy adults saw cognitive improvements after consuming 12-18g of MCTs daily.
However, Dr Sinopoulou suggests benefits are unlikely unless you also lower your carb intake, saying, “As for the cognitive help that it might give, I think it would have to be one of your fat sources alongside a low carb diet.”
Increased Energy Levels
Because MCTs can be easily used by the body, they may increase our energy levels in the short term. A 2009 study found that, when compared to LCTs (such as olive oil), consumption of MCTs could enable people to perform HIIT (high intensity interval training) for longer. However, another study in 2022 found there was little evidence consumption could lead to improved athletic endurance.
Gut Health Improvement
A 2016 study found piglets fed on an MCT-rich diet had better gastro-intestinal health. Dr Vassiliki Sinopoulou says, “MCTs have been compared to short chain fatty acids which get used as prebiotics – a food source for the microbes in your gut. That helps boost your flora and help your gut balance – and MCT oil is supposed to have a similar effect.”
Best Ways to take MCT oil
MCT oil is sold in a variety of different forms – either as an oil or a powder, or in capsule form, and can be taken at any time of the day. Recently, it has become more popular in a so-called “bulletproof coffee”, which is pure coffee mixed with unsalted (preferably organic grass-fed) butter and MCT oil.
It can also be added to smoothies, soups and shakes, or added to no-bake cakes and protein bars. You can mix the oil into tea, your morning porridge or yogurt or drizzle onto salads.
Dr Sinopoulou adds, “What time of day you take it depends on why you are taking it. If you want to use it as a source of energy, then take it before you exercise.”
Potential Risks and Side Effects of MCT oil
MCT oil is a saturated fat and even though the body metabolises it in a different way, eating too much could still lead to weight gain.
However, Dr Sinopoulou says, “I wouldn’t expect it to have a worse effect than eating lots of saturated fats like butter or coconut oil. But if you are taking high doses, it can cause problems in the liver and other digestive problems.”
Several study participants have reported stomach troubles and diarrhoea at higher doses. Dr Macchioci explains, “For certain people, it can be harsh on the gut. Because MCTs are rapidly absorbed, they can have an osmotic effect. They can draw water into the lumen of the gut [the space inside the intestinal walls], and if you have it in coffee on its own without food, that effect can be magnified [causing a laxative effect].
“If you’re having it with food, it buffers that. If you’re not familiar with MCT, go with a lower dose and build up slowly.”
Frequently Asked Questions About MCT oil
Does MCT oil reduce belly fat?
While consuming MCTs may help with weight management, it’s unlikely to target belly fat specifically. Dr Macciochi says, “The results you get depend on your overall diet and lifestyle. Taking MCT alone is not going to burn fat from your body, or particularly target areas that you would like it to. It can assist weight management, but as part of a holistic plan.”
Is MCT oil bad for cholesterol?
Our experts both agree more research is needed, as studies have produced mixed results. However, a 2021 study concluded that MCT oil could be incorporated into a weight loss program without fear of adversely affecting metabolic risk factors.
Dr Sinopoulou adds, “The theory is that as MCTs get used immediately and don’t get stored in your adipose [fatty] tissue, they don’t really contribute to obesity or weight gain, or influence your cholesterol and your triglyceride levels [the amount of fat in your blood from foods containing triglycerides]. It might even lower them.”
Conclusion: Is MCT oil Right for You?
The expert opinion
“Do you have a specific problem you’re interested in using this for?” says Dr Sinopoulou. “If you want to lower your weight, talk with an expert to guide you on the correct dosage and how it should be used.”
Dr Macciochi adds: “Its application depends on why you want to use it. For example, If you want to exercise straight away, but without having to eat a meal before you go, then add it to coffee to get the combination of caffeine, which has a sports performance benefit, and that source of fuel from the MCT.”
How safe is it to take it?
Dr Sinopoulou explains, “In the short term I would say the risk of taking it is fairly neutral. In the long-term, we don’t know. But I wouldn’t say to anyone don’t try it – there are no red flags like that.
“Side effects might occur in cases where people are using it without any guidance and they’re consuming so much of it because they’re thinking, ‘Oh, it’s good for me, so I’ll have as much as possible.’”
Ripple’s XRP ($XRP) skyrocketed after Gary Gensler announced plans to resign as SEC Chief. While XRP price prediction for the mid and long-term looks bullish, there was a correction in the works at the time of writing.
Within 24 hours of the abovementioned incident, it rose around 12%. The following day, it rose another 18%, however, by Saturday, correction had begun.
As of writing, XRP today was down 12%, almost going back to Thursday’s level. XRP could start consolidating near the $1.2 to $1.4 range. Emboldened investors are expecting new pro-crypto regulatory policies.
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Market sentiment is also influenced by Ripple’s ongoing battle with the SEC and further speculation over Ripple’s mid to long-term price targets.
XRP Breaks $1.00 as Market Momentum Builds
Sustained market interest for XRP is also reflected in the price rally. The current market cap is $76.16 Billion, i.e. down 9.6%. 24-hour trading volume is down 27.73% to $11.30 Billion as of now.
Immediate resistance is seen closer to $1.2388, and with the rally gaining strength, the price target lies in the $1.30-$1.50 range.
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On the downside, XRP has support around $1.10, whereas, in the long term, its fundamentals are strong, as the total circulating supply of XRP is 56.93 Billion, out of a total supply of 99.99 billion.
Now market participants are eyeing South Korea, where XRP’s trading volume has been outpacing Bitcoin, suggesting a large amount of retail interest.
Gensler’s Resignation and Ripple’s Regulatory Optimism
Crypto market reactions to SEC Chair Gary Gensler’s resignation have resulted in a positive impact on XRP. This is seen by investors as the turning point in U.S. crypto regulation.
It is expected to finally lead to more favorable policies of benefit to Ripple’s ecosystem. Brad Garlinghouse, Ripple CEO, indicates renewed optimism for a win in the company’s lawsuit against the SEC.
Ripple’s case is still evolving. Parallels have been drawn to the recent BitClave $4M settlement, which could set new precedents for securities-related lawsuits in the crypto space.
Market enthusiasm has further been amplified by Ripple’s expanding partnerships. This includes new exchanges for Ripple USD (RLUSD) distribution, enhancing XRP’s global presence.
Additionally, XRP deposits on Binance have gone up to record levels within 18 months, signifying mounting bullish sentiment. The spike is in both retail and institutional investors.
Mid to Long-Term XRPPrice Predictions
Market analysts believe XRP’s mid-term forecast is bullish, with XRP price prediction of a rally to $1.96 if recent patterns repeat. In long-term forecasts, macroeconomic and speculative interest will drive price targets of up to $8-$13.
One scenario envisions a potential Giga Pump’ to $40, driven by U.S. regulatory reforms or a successful conclusion to Ripple’s legal battles.
In addition to regulatory optimism, discussions around potential spot ETFs for XRP, Solana (SOL), and HBAR have further bolstered investor confidence. It signals a possible shift toward an altcoin season.
Ripple’s active engagements with the broader crypto ecosystem are adding to XRP’s bullish case. Ripple recently held discussions with Cardano (ADA) founder Charles Hoskinson on DeFi, stablecoins, and integrations.
However, XRP price today still faces challenges, including a slight decline in payment volumes. Payment volume highlights the importance of sustained positive market sentiment to maintain momentum.
With coming Ripple legal battles, ETF approvals, and market volume trends, investors should continue to watch XRP’s price.
Home » Journal » Best Altcoins to Buy Today: Qubetics’ $965K ROI Potential, Algorand’s 67% Growth, and Aave’s DeFi Comeback!
The crypto market is buzzin’, y’all. Injective and Algorand might be scoring some wins, but there’s a fresh player stealing the show—Qubetics ($TICS). With presales heating up, analysts say it could turn early adopters into bona fide crypto rockstars. But hold up; let’s not sideline Algorand (ALGO) and Aave (AAVE), which are both making strong moves to end 2024 on a high.
So, what makes Qubetics the best altcoin to buy today? Let’s just say it’s not your typical presale hype. This game-changer promises to tackle the gaps left by older projects, bringing innovation with a twist of real-world practicality. Picture this: a decentralised VPN that’s a saviour for businesses and everyday folks alike. And yep, that’s just scratching the surface.
Qubetics ($TICS): The Future’s Web3 Aggregator with Mind-Blowing ROI Potential
Qubetics is making waves as the world’s first Web3 aggregator. It’s already sold over 198 million $TICS tokens during its presale, raising $2.6 million from 3,100+ holders. At $0.0233 per token, this baby’s in its ninth stage, and prices are set to climb to $0.0257 soon. Word on the street? $TICS could hit $15 post-mainnet launch. That’s a jaw-dropping 64,044% ROI. Wild, right?
But let’s not just talk numbers; let’s talk use cases. Ever struggled with VPNs? Qubetics decentralised VPN (dVPN) is here to revolutionise how we protect our online selves. Imagine working remotely without fretting over hackers or data breaches. Your connection’s safe, fast, and encrypted, all while bypassing region locks. Now think bigger—businesses securely share sensitive data across teams without shelling out for clunky corporate VPNs. That’s Qubetics’ magic.
Take John, a freelance designer, constantly hopping between co-working spaces. He needs a connection as reliable as his morning coffee. Enter Qubetics’ dVPN, which not only gives him top-tier security but also keeps his work anonymous, no matter where he plugs in.
And let’s not forget the investment potential. Dropping $1,500 on $TICS right now? That’s 64,376 tokens. When the presale ends and $TICS hits $0.25, you’re already sitting on $16,094. But if it skyrockets to $5? Boom—$321,880. And a $15 post-mainnet price? You’re now staring at $965,640. If that doesn’t spell FOMO, I don’t know what does.
Algorand (ALGO): Decentralisation Done Right
Algorand’s been quietly hustling, focusing on incentivising consensus. Its shift to a peer-to-peer gossip network is more than tech jargon—it’s a move toward true decentralisation. For crypto enthusiasts dreaming of a fully autonomous network, ALGO’s setting the bar.
This year, ALGO’s climbed 67% in value. Sure, it’s had some ups and downs, but that’s just the crypto rollercoaster. As 2024 winds down, long-term holders are grinning. With broader adoption on the horizon, thanks to its secure and scalable platform, ALGO is turning heads among institutions and retail investors alike.
Picture ALGO is becoming the go-to blockchain for green tech startups. Its carbon-neutral status isn’t just a PR stunt; it’s a real commitment. Imagine an app powered by Algorand that tracks your home’s solar energy usage. That’s where this blockchain’s heading—making life simpler, cleaner, and, let’s face it, cooler.
For those stacking ALGO, analysts are bullish for 2025. They’re projecting a significant uptick as more developers and businesses jump on board. If you’re searching for the best altcoins to buy ahead of December 2024, Algorand might just be your eco-friendly ticket.
Aave (AAVE): Lending Green and Loving It
Aave’s had its share of drama, but the DeFi darling is bouncing back. The lending protocol, known for letting users borrow and lend crypto without middlemen, has been flexing its muscles. Aave’s V3 update earlier this year is turning heads with better cross-chain features and lower transaction fees. Translation? More bang for your buck.
Right now, AAVE is riding the green wave thanks to broader DeFi adoption and its reputation for innovation. It’s becoming a staple for crypto veterans and newbies alike. Wanna lend out your stablecoins and rake in some passive income? Aave’s got your back.
But here’s the kicker: Aave’s pushing beyond just lending. With integrations in real-world finance, imagine using AAVE to lock in a loan for your dream Tesla. No credit checks, no nosy bankers—just you and the blockchain. That’s the kind of disruption Aave’s bringing to the table.
Price-wise, analysts are optimistic. They’re pegging AAVE for steady growth as DeFi continues to expand. Sure, it might not have the 64,000% ROI hype of Qubetics, but for a steady and reliable altcoin, Aave’s making all the right moves.
Final Thoughts: Which Altcoin Deserves Your Bet?
The year’s closing with a bang and the best altcoins to buy ahead of December 2024 are lighting up the charts. Whether you’re eyeing Qubetics’ groundbreaking dVPN, Algorand’s eco-friendly decentralisation, or Aave’s DeFi dominance, there’s no shortage of potential.
Still, if you’re all about those moonshot gains, Qubetics is the no-brainer. Its presale success, innovative use cases, and jaw-dropping ROI projections make it the altcoin to watch. Don’t sleep on this one—$TICS prices are rising this weekend.
Ready to dive in? Secure your $TICS tokens before the price hike and ride the wave of the next big thing in crypto. The clock’s ticking—are you in or out?
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