It was a week of realities and rises to get any investor’s pulse racing and wallets jingling!
First up, we had Bitcoin hitting $31,000, it’s biggest price rise for a year, which has got investor’s excited the world over as next year’s halvening approaches.
How far up the price will go is anyone’s guess, and despite a small slump at time of writing, we’re still getting ready for it to hit $42k – $45k as 2024 nears.
The moral of this story – it is never too late to join the Bitcoin bandwagon.
But it was not only “the king of crypto” that piqued interest, as its’ nearest rival Ethereum also experienced a price rise, up to nearly $1.9k per share.
Followers of Investment Mastery will know that Ethereum has long been a crypto we’ve been interested in and that interest, we can tell you, is not about to wane any time soon. We entered Ethereum last week and are currently hovering around a 8% profit already.
As ever, we just see this as the continuing evolvement of crypto and further evidence that crypto is maintaining its position as an asset that is too rewarding to ignore.
If you’re new to investing, then crypto’s should definitely to be looked into seriously, making sure to do your thorough research though to ensure it is for you and your risk tolerance.
Arguably the top news of the week is JP Morgan’s launching of JPM Coin to facilitate blockchain payments in the Eurozone. Tech giant Siemens was the first to use the new coin, which was previously only available in the US.
Again, this can only be good news for investors.
Not so good, is news that the SEC is still gunning after Binance and basically accusing it of money laundering, a charge its’ CEO strongly refutes. Unfortunately, the impact is already being felt with Binance being banned from Belgium!
Where does that leave investor’s?
There is only one thing to do really – get off the exchanges and move your funds to wallets. It is the safest thing to do amidst this turmoil, even though Binance may be innocent.
As for stocks and commodities, there was great interest in silver this week and a company called Panamerica Civic Corp. They have a whole load of silver mines all across the globe. Really strong company and currently down at roughly -26 percent.
For new investor’s, this could be a great asset to try out our PCA strategy. Not sure what that is? Join IM Insider now to find out!
