Cryptic posts drive stocks, and Bitcoin turns 16: Markets roundup
Plus, what big banks think will happen to the stock market in 2025
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Crypto-friendly billionaire Elon Musk is known for his cryptic social media posts. This time, his online activity triggered a dramatic pump-and-dump of cryptocurrency.
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The year 2024 marked a historic milestone as the Dow Jones, Nasdaq $NDAQ, and S&P 500 all reached new record highs, fueled by the surge in artificial intelligence and significant shifts in the economic and political landscape.
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Despite a lack of any real news, Unity Software (U) stock went on a tear Thursday morning. It appears to be a result of the latest tweet from Keith Gill, an investor who also goes by “Roaring Kitty.”
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Bitcoin price made history in 2024, and if a recent report is to be believed, the flagship cryptocurrency could reach $150,000 in the first half of 2025 and potentially hit $185,000 by the fourth quarter.
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As 2024 is almost ending, investors are cashing in on cryptocurrencies, locking in profits. While this end-of-year sell-off was expected, the trend could shift with the arrival of 2025. The inauguration of crypto-friendly leader Donald Trump as the new U.S. President is likely to spark fresh optimism among market participants.
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Bitcoin is now 16 years old!
Satoshi Nakamoto, a name used by the creator (or creators) of Bitcoin, mined the first Bitcoin block on Jan. 3, 2009. This “genesis” block followed the release of a Bitcoin whitepaper on October 31, 2008, which laid the foundation for the now-leading cryptocurrency.
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The Dow dropped over 400 points on Monday as lighter trading volumes were anticipated in the final days of 2024. The market experienced a wave of profit-taking, especially in the technology sector.
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It’s the New Year and many Americans are thinking about how to be financially prepared for 2025, with cautious optimism about the year to come.
A WalletHub survey found that about 2 in 3 people think 2025 will be a better year for them financially than 2024, but that doesn’t mean they’re ready to go on a spending spree.