Why are cryptocurrencies becoming more expensive, and what awaits them in the near future?
The record growth of cryptocurrencies in November 2024 made many people ask themselves the question - Why are cryptocurrencies rising in price and why didn’t I buy them earlier.
After the election of US President Donald Trump, first Bitcoin, and then most altcoins, began to rise sharply in price.
In just 10 days, Bitcoin grew by 29%, and such popular altcoins as Riplle by 110%, Dogecoin by 115%, Cardano by 125%.
The reason for this growth is the victory of Trump in the presidential election, who several months ago announced that after becoming president he would make Bitcoin one of the reserve assets for the American dollar.
How to make money on US elections using the exchange
There is a certain category of traders on the stock exchange who do not trade every day, but open transactions only at the most opportune moments.
Thanks to this approach, they are able to guarantee a profit, and with the least risk of losing money. The main thing is to see the right moment and choose the right asset and direction of the transaction.
The presidential elections in the United States in the fall of 2024 are precisely one of the best moments for making money, and it would be a great shame not to make money on such a rare event.
The peculiarity of the upcoming presidential elections in the United States is that quite a lot depends on their outcome, including global economic stability.
Cryptocurrencies in the European Union will soon cease to be anonymous
The main advantage due to which cryptocurrencies have gained their enormous popularity is complete anonymity.
Crypto wallets are anonymous and do not require documents to confirm identity when opened, but the era of anonymity is probably gradually coming to an end.
From December 30, 2024, cryptocurrency companies in Europe will have to comply with EU regulations under a new regulation (No. 2023/1113) adopted on May 31, 2023.
It obliges to identify the actual owner and controller of wallets in any transactions involving non-custodial (personal) addresses.
Why is the Ripple cryptocurrency (XRP) not growing in price?
The Ripple cryptocurrency (XRP) remains one of the most famous and significant digital assets in the world, in addition to this, the token has a real purpose.
News constantly appears in my news feed that one or another financier has predicted unprecedented growth for Ripley in the near future. It seems that someone is actively pumping this cryptocurrency.
However, many investors are asking the question: why is its price not growing, despite the stable use of Ripple technology, popularity in the market and an active game to increase the price?
In this article, we will look at where Ripple is used, its historical highs, future prospects and reasons that may slow down the growth of XRP's value.
Assessing the prospects for the cryptocurrency market in September 2024
The latest fall in the cryptocurrency market has caused panic among some investors, but this is not a reason to refuse to invest in these assets.
It is during trend pullbacks that you can most profitably buy a promising asset, and then make the most of the increase in its price.
We will try to assess the growth opportunities of the most popular and liquid cryptocurrencies, taking into account the current price and past highs, this will allow you to make the most profitable investments if you decide to invest in cryptocurrencies.
At the same time, we will not consider memocoins, since this category of digital money has the maximum risk and it is not a fact that many of them will ever increase in price.
Cryptocurrency card from MasterCard is coming soon
We all remember with nostalgia the cryptocurrency card from the Binance exchange, which allowed us to instantly pay with digital money.
But over time, this project was closed, and more worthy options for cryptocurrency cards never appeared.
But there is also good news, the global payment organization MasterCard announced the introduction of the Crypto Card initiative for its affiliated banks.
They will process transactions with cryptocurrency cards using the MasterCard Crypto Credential software product they developed.
This step involves the introduction of an innovative financial instrument that will make it possible to pay for purchases using crypto-assets.
How will the escalation of the conflict in Ukraine affect global markets?
Recent events in Ukraine and Russia have significantly reduced the likelihood of successful negotiations between these countries.
More and more political scientists are saying that the armed conflict is unlikely to end in the fall of 2024; most likely, the war will continue for many more years.
But how will such a situation affect global financial markets, which assets will increase in price, and what may fall in price due to the continuation of hostilities?
What should ordinary investors do, what should they invest in to preserve their savings from the influence of inflation and price risks?
Accounts abroad that the tax office will NOT have access to
It has already happened that storing money in bank accounts in CIS countries is quite unsafe, so many citizens prefer to open foreign accounts.
Some people care about the safety of their savings, while others try to hide income from the tax service in order to avoid paying taxes. But whatever the reasons, some do not want their home state to know about their accounts abroad.
But every year it becomes more and more difficult to keep a secret, so Ukraine has adopted a common CRS reporting standard, according to which the Ukrainian tax service will be able to find out what is stored on the deposits of citizens abroad.
What are the dangers of access to such information, and what consequences can it have for their owners?
Stellar is one of the most undervalued cryptocurrencies
In the cryptocurrency market, as in any financial market, there are both overvalued and undervalued assets.
Therefore, if you approach the valuation wisely, you can easily identify an undervalued asset that will bring a good profit upon purchase. One such asset is the Stellar cryptocurrency (XLM).
Stellar is a decentralized platform designed for fast and cheap international money transfers. It is blockchain-based and uses its own cryptocurrency, XLM.
XLM's capitalization is now $3 billion, according to this indicator the asset is in 26th place among other digital coins. The number of coins in circulation is 30 billion, and a total of 50 billion coins are planned to be put into circulation. At the moment, 1 XLM costs about $0.1.
Reasons for the fall of Bitcoin in August 2024: is it a crash or a correction?
The cryptocurrency market has always been considered the most volatile segment of the financial market, but every day the trend brings new surprises.
Just a month ago, we experienced the fall of the leading cryptocurrency Bitcoin to a minimum of 55,900, and now, with the beginning of August 2024, a new minimum has been formed at a level below 51,000 dollars per coin.
Traditionally, the cryptocurrency market has been gripped by panic; many investors are trying to get rid of assets that are falling in price.
What to do in this situation - sell at a loss or, conversely, buy coins at the best price?
Trump or Harris: how election results could affect the US stock market
The results of the US presidential election could have a significant impact on the stock market, as each candidate's policies could have different effects on different sectors of the economy.
There is no corruption in the United States, but each president pursues his own policy of lobbying for one or another sector of the economy.
Therefore, investors should be prepared that after one of the candidates wins the election, some stocks will go up, while others will begin to fall. This moment is an excellent opportunity to make money.
After Joe Biden refused to participate in the 2024 presidential election, Kamala Harris is called the most likely candidate from the Democratic Party to participate in the election race.
The fall of Bitcoin in the summer of 2024, the reasons and the likelihood of renewed growth
The cryptocurrency market has been in decline since early 2024, and Bitcoin is no exception. Since June 2024, the price of Bitcoin has fallen another 15%, reaching a new low in 18 months.
The current price of the leading cryptocurrency at the moment is only 56,300 US dollars per coin.
Which surprises many, because most cryptocurrency market analysts predicted the price of Bitcoin in 2024 above $100,000.
Therefore, a completely reasonable question arises: Why did the first cryptocurrency fall in price, what caused the record drop, and what are the chances of resuming the upward trend ?
Digital gold from Tether Gold (XAU)
Gold has always been considered one of the best options for long-term capital storage, but storing physical bullion has many disadvantages.
With the advent of cryptocurrencies, an alternative to physical gold appeared - tokens tied to the price of the precious metal.
True, previously existing versions of such altcoins did not inspire much confidence, but the company Tether Limited, which released the most popular stablecoin, announced the launch of a gold cryptocurrency.
Digital gold Tether Gold (XAU) is a cryptocurrency pegged to the value of physical gold.
XRP cryptocurrency may rise in price to $1,000 per coin
In 2024, the attention of investors is increasingly attracted by such cryptocurrency as XRP; the turnover of transactions on the token is growing every day.
An analysis by cryptocurrency market analysts suggests that XRP, the token of the famous Ripple project, could experience explosive growth, reaching an incredible $1,000 mark.
This forecast is based on expected changes in the cross-border payments sector, where XRP plays an important role. Cryptocurrency is already widely used in transactions between banks, and expanding its scope of use will only increase its liquidity .
In the near future, XRP could become a key player in facilitating cross-border payments due to its functionality, which could lead to a significant increase in its value.
Why does Bitcoin fall after halving?
Despite many assurances that the price of Bitcoin will rise after the next Halving, the opposite situation is observed in the crypto market.
After Bitcoin made a new high of $73,000 in March 2024, the price has fallen significantly and today stands at $57,000 per coin.
Before Halving, many forecasts were published on the Internet predicting an increase in the value of the main cryptocurrency to $100,000 or even $150,000.
Why did the cryptocurrency not live up to expectations and began to fall, pulling the entire cryptocurrency market with it?
Forecast of the euro dollar exchange rate for the fall of 2024, which currency to give preference to
The most liquid and convenient currencies for storing savings today are still the euro and the American dollar.
As an alternative, you can, of course, use Swiss francs, but they have less liquidity and sometimes problems arise with their exchange, so the dollar and euro are still the priority currencies.
At the end of April 2024, the rate of the EURUSD currency pair is around 1.07 US dollars per euro, but many skeptics predict a quick fall in the value of the euro and a 1 to 1 price decline, as was already the case in 2022.
But is it worth it now to get rid of the euro and urgently exchange them for American dollars, so as not to lose on the exchange rate due to the fall of the euro?
The legendary “Battle of Traders” will begin soon! Hurry up to take part in the competition on demo accounts
The “Battle of Traders” competition has been taking place since 2018, and over such a long period of time it has become a real legend! New winners are announced by the organizer - broker NPBFX , known since 1996 - every month.
Hurry up to take part in the next tournament of the popular competition and win $1000 to your trading account, as well as a super prize - the latest model iPhone!
But first things first.
How the Battle of Traders works
Every month a new “stage” of the competition begins, in which everyone can take part after registration.
In general, during the existence of the competition, hundreds of traders from different countries of the world won it: Russia, Kazakhstan, Belarus, Egypt, Indonesia, Malaysia and others.
Why is the hryvnia not falling against the dollar and euro?
After the start of the war in 2022, the exchange rate of the Ukrainian hryvnia rushed down; if before the start of hostilities, one US dollar was worth 28 hryvnia, then after a couple of months, 1 dollar began to cost 37 hryvnia.
It would seem that everything is logical; a war on the territory of a country never adds stability to the national currency.
But strange things began later; for a year and a half now, the hryvnia has not fallen below the level of 40 hryvnia per 1 US dollar. Why is there no further decline, despite the problems in the Ukrainian economy?
In fact, the answer to this question is quite simple: the hryvnia exchange rate remains at the current level thanks to the efforts of the national bank.
The first year there were restrictions on the purchase of foreign currency imposed by the NBU; it was practically impossible to buy dollars or euros through a bank.
How will exchanges work during Easter 2024?
This year, 2024, the celebration of Catholic Easter falls on Sunday, March 31st. How will exchanges work on holidays and pre-holidays?
Although the holiday itself traditionally falls on a Sunday, traders may experience a change in trading on Thursday, March 28 and Monday, April 1.
March 28, 2024 (Maundy Thursday) – early closure or absence of trading is expected on stock exchanges in the following countries - Argentina, Venezuela, Denmark, Iceland, Colombia, Costa Rica, Malaysia, Mexico, Norway, Peru, Philippines, Sweden.
This will lead to a drop in liquidity for some assets, especially if they are directly related to the above-mentioned countries.
How could European Commission fines bring down shares of Apple, Google and Meta?
According to the well-known news agency Bloomberg , the largest IT companies Apple, Google and Meta face huge fines.
The European Commission is conducting investigations into violations of digital markets legislation.
Each of the defendants faces their own accusations: Google is accused of promoting its subsidiary services in the search, Apple's App Store rules do not meet DMA requirements, and Meta is accused of introducing fees for using Instagram and Facebook.
If a violation of the rules is confirmed, companies face fines of 10% of their total income.
Shelling of Russian refineries pushes oil prices up
The price of oil is quite sensitive to geopolitical factors; oil begins to rise even with the slightest threat of production cuts.
Recently, Ukraine has increased the number of attacks on the oil refining complex of the Russian Federation.
According to the Economic Truth , in 2024 alone, 13 oil refining complexes in Russia were damaged. Which is about 14% of the country's total capacity.
The role of oil refineries (ORPs) in oil pricing also cannot be underestimated. Refineries perform a critical function by converting crude oil into end-use products such as gasoline, diesel fuel and jet fuel.
How much will gold cost in 2024 and is it worth buying?
Gold is the most popular asset, with the help of which it is customary to insure investment risks and the risks of money depreciation.
Over the past 10 years, gold has risen in price by more than 70% and now its price is about 2,000 US dollars per troy ounce .
But despite all the attractiveness of this asset, the price of gold does not always rise; for example, in 2012, the cost of the precious metal decreased by more than 20%.
Therefore, it cannot be said that this investment option with a 100% guarantee will bring profit; it all depends on when you buy the metal and when you sell it.
Forecast of the dollar and euro exchange rates for 2024, taking into account existing trends
In 2024, the leading world currencies are still the US dollar and the euro.
But which of these currencies should you bet on in the coming year and in what is it better to store the bulk of your funds?
What will be the forecast for the US dollar exchange rate against the European currency Euro, taking into account the events that will occur in 2024?
At the moment, the situation is rather ambiguous, since both currencies are subject to pressure from the unstable political situation and the economic crisis.
What will the Polish zloty exchange rate be in 2024?
The exchange rate of the Polish zloty to the US dollar is an important indicator of the state of the Polish economy.
It reflects the dynamics of prices for goods and services imported into Poland, as well as exported goods and services produced within the country.
In recent years, the exchange rate of the Polish zloty against the US dollar has shown a downward trend, that is, there has been a gradual decline in the value of the zloty.
In 2023, the average exchange rate was 4.20 zlotys per dollar, which is 10% lower than in 2022, when the geopolitical situation in the region worsened.
Artificial intelligence Bard assessed the likelihood of bankruptcy of the Binance exchange
Recently, there have been many reports in the media about the possible bankruptcy of the largest cryptocurrency exchange, Binance.
These messages have caused concern among investors about their funds, which will be frozen in the event of an unfavorable scenario.
The basis for anxiety and panic was a series of unpleasant events. First there was the fall of the cryptocurrency market, after the ban on the issuance of BUSD stablecoins and the departure from Russia, then a lawsuit against the exchange for not complying with international anti-money laundering rules.
As a result, Binance must pay a fine of $4.3 billion, and its head Changpeng Zhao must resign as CEO.
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New markets, why investments in the Indian economy are more promising
It seems to most people that there are no other stocks other than the securities of American companies that we constantly hear about in the news.
But there are other markets, including developing ones, that have great prospects for growth and payment of dividends.
Today, Europe and the USA are going through hard times; most experts predict an imminent collapse of their stock markets, so investors are increasingly looking towards new assets.
At the same time, the most interesting alternative destinations are countries such as China and India.
The question naturally arises: what to choose for investing money, China or India?
The situation in the European economy today
Understanding the current state of the EU economy helps in making important decisions, such as investing in shares of European companies or buying euros.
Recently, the European Union, like most other world countries, has been going through far from the best times. The main reasons for the current economic situation were the pandemic and rising energy prices.
Record inflation led to an increase in interest rates , as a result of which the rate of the European Central Bank reached 4.5%, which is a historical maximum for the entire existence of the euro.
The eurozone economy stalled or even contracted in the third quarter of 2023 under the cumulative burden of interest rate hikes.
How the war between Israel and Palestine will affect global financial and commodity markets
The conflict between Israel and Palestine, which began on October 7, 2023, has already had a negative impact on global financial and commodity markets.
The current conflict taking place in the heart of the Middle East could have significant consequences for global financial and commodity markets.
The region is a critical node in global economic and energy networks, and any long-term tension or instability could cause significant fluctuations at the global level.
Markets directly related to the conflict area will react first, for example, Israel is the largest supplier of diamonds, medicines, agricultural products and fertilizers.
Central banks are increasingly giving their preference to “non-reserve” currencies when building reserves
The US dollar has long been one of the key currencies in the world. Today it continues to play a leading role, even as the American economy's share of global output declines.
However, central banks hold fewer dollars in their reserves than before. Last year, the dollar's share of global foreign exchange reserves fell below 59%, continuing a trend over the past 20 years.
The first blow to the dominance of the American currency was the emergence of the main competitor of the Euro; currently the European currency occupies about 20% of the Central Bank's reserves.
In recent years, the economies of Europe and the United States have been going through difficult times; this fact cannot but affect the popularity of the currencies of these countries. Therefore, new trends are beginning to appear in the policies of central banks.
US investors are losing interest in the Chinese stock market
The Chinese stock market has been one of the fastest growing in the world in recent years, and shares of Chinese companies have been in high demand among investors.
However, in recent months, American investors have become less and less interested in securities from China.
According to Bloomberg , US investors' investment in Chinese stocks fell 70% in July 2023 compared to July 2022.
There are a number of objective reasons why Americans are gradually losing interest in the Chinese stock market.