Ethereum Price to Surpass $10K by 2025, Says 1confirmation’s Nick Tomaino”

Posted on January 1, 2025January 1, 2025 by Arslan Butt

Ethereum (ETH) has long been a dominant force in the cryptocurrency space.

Now, with the backing of 1confirmation’s founder Nick Tomaino, Ethereum’s scarcity narrative is gaining increasing traction. Tomaino predicts that ETH’s price will surpass $10,000 in the near future, driven by its deflationary supply model, robust developer ecosystem, and position at the forefront of decentralized finance (DeFi).

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Tragic New Year’s in the U.S.: 10 Dead and at Least 30 Injured in Mass Hit-and-Run

Posted on January 1, 2025 by Ignacio Teson

At least 10 people were killed and 30 others injured, several critically, after a vehicle plowed into a crowd in New Orleans, USA, on Wednesday, according to authorities.

The incident occurred during New Year’s celebrations, with the victims gathered in the famous Bourbon Street area, a popular spot for holiday festivities.

Police stated that numerous casualties were reported after a car allegedly hit a group of people. Witnesses indicated that the vehicle collided with the crowd, and the driver then fired a gun.

New Orleans Mayor LaToya Cantrell called the incident a “terrorist attack.” However, the FBI, which has taken charge of the investigation, has not yet confirmed the motive behind the incident.

Authorities believe the driver aimed to hit as many people as possible. The attack occurred towards the end of New Year’s celebrations, just hours before the AllState Bowl, an American football quarter-final game.

Police did not confirm whether the attacker was in custody or provide details about their condition. Images circulating on social media show several officers firing at the vehicle, while authorities investigate potential explosives found at the scene.

Later in the day, the suspect in the New Orleans NYE attack was identified as 42-year-old Shamsud Din Jabbar, who had an ISIS flag.

He was reportedly born and raised in Texas and served in the US Army.

Mexican Stock Exchange Experiences Worst Drop Since 2018

Posted on January 1, 2025 by Ignacio Teson

The leading index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which tracks the most traded local stocks, rose by 1.38%, closing at 49,513.27 points on Tuesday, December 31. However, this comes one day after the index fell to its lowest point of the year.

The Mexican stock market experienced significant accumulated losses throughout 2024, driven by increasing economic and political uncertainty in Mexico, as well as currency exchange effects and the electoral victory of Donald Trump in the United States.

The S&P/BMV IPC started the year above 57,386.25 points, meaning it registered a 13.7% cumulative drop in 2024, marking its worst annual performance in the past six years.

Meanwhile, the FTSE BIVA, from the Bolsa Institucional de Valores (Biva), closed the last trading day of the year at 1,004.79 points, with a 15% cumulative decline.

Given the recent drops, and considering factors like exchange rates, the Mexican stock market offers attractive valuations based on fundamentals, leading to optimism for certain instruments, such as Fibras.

The subsequent election victory of Donald Trump in November heightened concerns over the future of the Mexican economy, with fears that his protectionist policies could jeopardize trade with the United States, one of Mexico’s main economic pillars. Trump, who will take office on January 20, has promised to impose significant tariffs on his top trade partners: Canada, Mexico, and China.

Bitcoin Starts 2025 Lower After Rising Over 120% in 2024

Posted on January 1, 2025 by Ignacio Teson

Bitcoin (BTC) began 2025 on a downward trend, still above $94,000, after closing 2024 with a 121% accumulated gain, making it one of the top-performing assets of the year.

For this year, cryptocurrency enthusiasts are expecting another Bitcoin rally, fueled by the pro-crypto regulatory outlook under President Donald Trump’s government in the U.S. Historical performance also supports these expectations, as Bitcoin has typically seen significant price increases in the years following “halvings,” when miners receive half the reward for authenticating new blocks on the blockchain. The last halving occurred in April of the previous year.

[[BTC/USD-graph]]

On the other hand, critics of digital currencies and new investors in the sector warn that much of the optimistic outlook may already have been priced in over the past few months, particularly after Trump’s election. As a result, [[BTC/USD]] and other cryptocurrencies may have little room for substantial gains in the coming months without new catalysts to justify significant capital inflows into the market.

Bitcoin Outlook

Analysts suggest this may partly explain Bitcoin’s weak performance in December, when the cryptocurrency fell 3.2%, in line with the disappointment in risk markets due to the U.S. Federal Reserve’s (Fed) interest rate cuts forecasted for 2025.

As of today, Bitcoin was trading at $94,189, down 1.1% in the last 24 hours, according to CoinGecko. Ether (ETH), the native currency of the Ethereum network, was priced at $3,345.85, down 1.9%.

Latin American Markets Close Year with Significant Losses

Posted on January 1, 2025 by Ignacio Teson

Latin American markets saw little change on Tuesday, but stock and currency indices were set to close 2024 with sharp annual losses, as expectations of fewer interest rate cuts in the U.S. pushed up the dollar and capped a turbulent year for the region.

Trading was light on the final session of the year, with markets closed in Brazil.

The Mexican peso weakened by 0.3% yesterday and closed its worst year since 2008, as the Bank of Mexico appears ready to continue its monetary easing cycle, increasing concerns over trade with the United States.

[[USD/MXN-graph]]

Mexico’s main stock index rose 0.4% on Tuesday but recorded the sharpest annual decline among regional stock markets, falling by around 15%, the largest drop since 2018.

The MSCI regional equity and currency indices both rose by 0.3% and 0.2%, respectively.

Latin America Overall Performance

Latin American markets have performed significantly worse than emerging markets overall during 2024, with annual losses of 30.6% for regional equities and 11.2% for currencies.

The currency index broke a two-year streak of gains, posting its worst annual loss since 2020, while Latin American equities suffered their largest annual drop since 2015.

The dollar and Treasury yields have risen in December after the U.S. Federal Reserve signaled a more cautious pace of interest rate cuts in 2025, putting considerable pressure on emerging market assets.

Latin American economies, in particular, have struggled this year due to slower growth in China, a key consumer of commodities, political unrest, and inflation.

For 2025, most investors are expecting fewer rate cuts from the Fed, and anticipate that policies under the new U.S. president, Donald Trump, will continue to support the dollar, further weighing down returns on investments in emerging markets.

European Markets Suffered Their Worst Quarter Since 2022

Posted on January 1, 2025 by Ignacio Teson

The slowdown in economies, doubts about further interest rate cuts in the U.S., and the unstable political climate in France negatively impacted equities. The Paris stock market was the only one to end 2024 in the “red.”

Europe’s major stock markets closed the final trading day of 2024 with gains, but ended their worst quarter since 2022. Almost all markets recorded yearly gains, except for the French benchmark, which closed in the “red” due to a climate of deep political instability.

The downturn from September to December was linked to uncertainty around interest rates and policies announced by the newly elected U.S. president, Donald Trump, which halted a rally that had taken several markets to historic highs earlier in the year. The pan-European STOXX 600 index recorded a quarterly decline of around 3%, the biggest drop since July 2022.

[[DAX-graph]]

In 2024, the benchmark index rose only 5.9%, while the slowdown in European and Chinese economies, automotive industry struggles, and political turmoil in France weighed on market confidence.

European Performances

The best-performing index of the year was Germany’s [[DAX]], with an 18.9% increase, followed by Spain’s IBEX 35 (+14.8%) and Italy’s FTSE (+12.6%).

London’s FTSE saw a much smaller rise of 5.7%, while Paris’s CAC 40 fell by 2.2%. It is worth noting that recently, President Emmanuel Macron appointed his fourth government of the year to calm pressures from both the left and right in a context of significant legislative fragmentation and difficulties in approving the 2025 budget.

On Tuesday, December 31, the dynamics were reversed, with French stocks leading the gains (+0.9%) and German stocks being the only ones to close with a negative variation (-0.4%), indicating a reassessment of values.

Global Markets

In other international markets, during the Asian session, most stock markets fell as the year ended with caution. Investors reduced bets on strong interest rate cuts in the U.S. in 2025 and prepared for Trump’s incoming administration, with the dollar maintaining its strength against most other currencies.

It is also important to note that the Japanese stock market was closed for a holiday and will not resume activity until next Monday.

Wall Street Posted a Strong Year of Growth Driven by Tech and AI

Posted on January 1, 2025 by Ignacio Teson

Stock prices of companies like Palantir Technologies (the top performer of the year in the S&P 500) and Nvidia saw impressive increases.

Despite moderate declines, Wall Street closed the final trading day of an exceptional year. The performance of the three major indices stood out, along with various trends that have strengthened and continue to generate expectations for the upcoming year.

[[SPX-graph]]

The Dow Jones, consisting of 30 large-cap stocks, finished the year at 42,544.22 points, with a yearly gain of 12.88%. Meanwhile, the [[SPX]] 500 increased by 23.31% to 5,881.63, and the Nasdaq Composite rose by 28.64%, closing at 19,310.79 points.

Despite the moderate declines in the indices on the final trading day of 2024 (down 0.07%, 0.43%, and 0.9%, respectively), market expectations remain positive, with trends gaining strength, particularly artificial intelligence (AI) technology.

Top Market Performers of 2024

Among AI stocks, the best performer among the major companies in the S&P 500 was Palantir Technologies, which achieved an impressive 330% annual gain for its investors. The company, specializing in processing large data volumes, has lucrative contracts with the U.S. government, allowing it to outperform even market giants and AI leaders like Nvidia (+170%).

The AI trend has fueled growth in these companies, as well as chip manufacturers like Broadcom (+109%) and Taiwan Semiconductor Manufacturing (+90%). The growing demand for chips has powered these gains.

Stock valuations have surged with the increase in share prices, but we believe the growth of AI will continue and transition from hardware to software on a massive scale. Other notable trends include Bitcoin, which continued to boost stocks like Coinbase (+33.24%) thanks to the approval of Bitcoin exchange-traded funds, and weight loss treatments like Eli Lilly’s famous Tirzepatide (+33.78%).

China Holds $18B in Bitcoin Amid Crypto Crackdown: Key Forex Rules Explained

Posted on January 1, 2025 by Arslan Butt

China has cracked down on cryptocurrency transactions with new foreign exchange rules.

These rules require Chinese banks to monitor ID, source of funds and trading frequency, making it harder for locals to buy digital assets. Announced on Dec 31 by South China Morning Post, these are part of China’s broader plan to curb cross border financial activities related to cryptocurrencies.

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Bitcoin to Reach $1 Million in 2025, Samson Mow Predicts; MicroStrategy Surge Ahead

Posted on January 1, 2025 by Arslan Butt

Samson Mow, Bitcoin advocate and CEO of adoption focused company JAN3, has made some big calls for 2025 including a $1 million Bitcoin price.

In a recent tweet he outlined 10 predictions for the year and the most notable is Bitcoin. Mow who has been a key figure in promoting Bitcoin globally is convinced this is coming soon driven by adoption and institutional interest.

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