The Crypto Market Overview
Over the past week, both bitcoin and ethereum have seen slight declines, ranging from 1.8% to 3.6%, when compared to the U.S. dollar. However, amidst these declines, several crypto assets have showcased impressive double-digit growth. Notably, internet computer (ICP), helium (HNT), bonk (BONK), and woo network (WOO) have emerged as the top performers, leading the surge in the market.
Double-Digit Gains and Losses
Starting on Monday, Dec. 18, 2023, the total value of the crypto market stood at $1.61 trillion, which marked a slight decrease of 1.9% from the previous day. As the holiday season approaches, global trading volumes have dipped. However, in the past 24 hours, there has been a significant increase in trading volume, with $76.24 billion being traded, representing a 30% increase from the day before.
During this week, ICP has experienced the highest growth, soaring by 85.5%. HNT has also seen a remarkable rise of 68.9%, while BONK has escalated by 68%. Additionally, WOO has appreciated by 57.1% against the dollar. Among the more than 11,000 cryptocurrencies listed, a total of 16 have experienced double-digit growth this week.
Other notable performers during this period include OSMO, INJ, ASTR, FET, TKX, STX, TIA, BGB, and GT. Apart from bitcoin and ethereum, XRP, SOL, and AVAX have also been prominent in trading volume. XRP experienced a decline of 4.4% over the week, while SOL increased by 3.1%, and AVAX surged by more than 10%. Other high-volume traders like DOGE, BNB, LINK, and ADA have also remained in the spotlight.
On the flip side, SNX has emerged as the week's most significant loser, declining by 21.1%. BTT fell by 16.7%, LUNC by 15.9%, and KAS by 13.9% over the same period. In total, eight cryptocurrencies have registered double-digit losses, with MINA, XEC, EGLD, and LDO also among the notable decliners.
Market Uncertainty and Year-End Reflections
As the year draws to a close, market uncertainty remains a prevalent theme, especially in the altcoin sector. Historically, the holiday season often witnesses a stagnation in crypto trade volumes as investors exercise caution amidst festive distractions and year-end reflections. This period typically sees flat trading activity, highlighting the cautious sentiment prevalent in the market during the final weeks of the year.
What are your thoughts on the week's biggest crypto gainers and losers? Feel free to share your opinions and insights in the comments section below.
Frequently Asked Questions
How much gold can you keep in your portfolio
The amount that you want to invest will dictate how much money it takes. Start small with $5k-10k. As you grow, it is possible to rent desks or office space. You don't need to worry about paying rent every month. Only one month's rent is required.
It is also important to decide what kind of business you want to run. My company is a website creator. We charge our clients about $1000-2000 per monthly depending on what they order. This is why you should consider what you expect from each client if you're doing this kind of thing.
You won't get a monthly paycheck if you work freelance. This is because freelancers are paid. So you might only get paid once every 6 months or so.
So you need to decide what kind of income you want to generate before you know how much gold you will need.
I recommend starting with $1k-$2k of gold and growing from there.
Should you Invest In Gold For Retirement?
How much money you have saved, and whether or not gold was an option when you first started saving will determine the answer. If you're unsure about which option to choose then consider investing in both.
Gold offers potential returns and is therefore a safe investment. Retirees will find it an attractive investment.
While most investments offer fixed rates of return, gold tends to fluctuate. This causes its value to fluctuate over time.
This does not mean you shouldn’t invest in gold. It just means that you need to factor in fluctuations to your overall portfolio.
Another benefit of gold is that it's a tangible asset. Gold can be stored more easily than stocks and bonds. It can also be transported.
You can always access your gold if it is stored in a secure place. Additionally, physical gold does not require storage fees.
Investing in gold can help protect against inflation. Because gold prices tend to rise along with other commodities, it's a good way to hedge against rising costs.
Additionally, it will be a benefit to have some of your savings invested into something that won't lose value. Gold tends to rise when the stock markets fall.
You can also sell gold anytime you like by investing in it. As with stocks, your position can be liquidated whenever you require cash. You don't even have to wait until you retire.
If you do decide to invest in gold, make sure to diversify your holdings. Do not put all your eggs in one basket.
Also, don't buy too much at once. Start small, buying only a few ounces. You can add more as you need.
It's not about getting rich fast. Rather, it's to build up enough wealth so you won't need to rely on Social Security benefits.
Gold may not be the most attractive investment, but it could be a great complement to any retirement strategy.
What precious metals do you have that you can invest in for your retirement?
Gold and silver are the best precious metal investments. Both are easy to sell and can be bought easily. If you want to diversify your portfolio, you should consider adding them to your list.
Gold: Gold is one of man's oldest forms of currency. It is very stable and secure. Because of this, it's considered a good way to preserve wealth during times of uncertainty.
Silver: Silver is a popular investment choice. It's a good choice for those who want to avoid volatility. Silver tends instead to go up than down, which is unlike gold.
Platinum: A new form of precious metal, platinum is growing in popularity. It is very durable and resistant against corrosion, much like silver and gold. It is, however, more expensive than its competitors.
Rhodium: Rhodium can be used in catalytic convertors. It is also used to make jewelry. It's also relatively inexpensive compared to other precious metals.
Palladium (or Palladium): Palladium can be compared to platinum, but is much more common. It's also more accessible. It is a preferred choice among investors who are looking to add precious materials to their portfolios.
How much money should my Roth IRA be funded?
Roth IRAs let you save tax on retirement by allowing you to deposit your own money. These accounts cannot be withdrawn until you turn 59 1/2. You must adhere to certain rules if you are going to withdraw any of your contributions prior. First, you cannot touch your principal (the original amount deposited). This means that you can't take out more money than you originally contributed. If you take out more than the initial contribution, you must pay tax.
The second rule says that you cannot withdraw your earnings without paying income tax. Also, taxes will be due on any earnings you take. Let's suppose that you contribute $5,000 annually to your Roth IRA. In addition, let's assume you earn $10,000 per year after contributing. You would owe $3,500 in federal income taxes on the earnings. You would have $6,500 less. You can only take out what you originally contributed.
So, if you were to take out $4,000 of your earnings, you'd still owe taxes on the remaining $1,500. In addition, 50% of your earnings will be subject to tax again (half of 40%). Even though you had $7,000 in your Roth IRA account, you only received $4,000.
There are two types if Roth IRAs, Roth and Traditional. Traditional IRAs allow pre-tax contributions to be deducted from your taxable tax income. Your traditional IRA can be used to withdraw your balance and interest when you are retired. There is no limit on how much you can withdraw from a traditional IRA.
Roth IRAs do not allow you to deduct your contributions. Once you are retired, however, you may withdraw all of your contributions plus accrued interest. Unlike a traditional IRA, there is no minimum withdrawal requirement. You don't have to wait until you turn 70 1/2 years old before withdrawing your contribution.
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- You want to keep gold in your IRA at home? It's Not Exactly Legal – WSJ
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement account
Investing In Gold vs. Investing In Stocks
This might make it seem very risky to invest gold as an investment tool. Many people believe that investing in gold is not profitable. This belief is based on the fact that gold prices are being driven down by global economic conditions. They fear that investing in gold will result in a loss of money. In reality, though, gold investment can offer significant benefits. We'll be looking at some of these benefits below.
The oldest form of currency known to mankind is gold. Its use can be traced back to thousands of years ago. It is a valuable store of value that has been used by many people throughout the world. It is still used as a payment method by South Africa and other countries.
It is important to determine the price per Gram that you will pay for gold when making a decision about whether or not to invest. If you're interested in buying gold bullion, it is crucial that you decide how much per gram. If you don’t know the current market rate for gold bullion, you can always consult a local jeweler to get their opinion.
It's also important to note that, although gold prices are down in recent months, the costs of producing it have risen. The price of gold may have fallen, but the production costs haven’t.
You should also consider the amount of your intended purchase when considering whether you should buy or not. It is sensible to avoid buying gold if you are only looking to cover the wedding rings. It is worth considering if you intend to use it for long-term investment. Selling your gold at a higher value than what you bought can help you make money.
We hope our article has given you a better understanding of gold as an investment tool. It is important to research all options before you make any decision. Only then can informed decisions be made.
By: Jamie Redman
Title: Bitcoin and Ethereum Experience Modest Declines as 16 Crypto Assets Record Double-Digit Gains
Sourced From: news.bitcoin.com/market-week-in-review-cryptos-highs-and-lows-with-icp-and-snx-leading-the-charge-and-retreat/
Published Date: Mon, 18 Dec 2023 16:30:25 +0000