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- Crypto Saving Expert Newsletter - Issue 127
Crypto Saving Expert Newsletter - Issue 127
Good morning! Bitcoin sets to end the year with a bang! Let’s take a deep dive into what’s happening behind the scenes with bitcoin and the broader Web3 market. 👇
This week's issue will feature technical analysis of bitcoin, ETH, SUI, and Dogecoin as well as important dates and key news stories.
Table of Contents
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Bitcoin Ends The Year With A Bang
Despite bitcoin dropping down roughly 15% from its all-time high, it is likely going to close the year above $90,000, a substantial gain from the $16,000 price tag it traded at just two years ago.
Bitcoin
Bitcoin reached six figures for the first time in its history recently, marking a massive gain year-to-date in price.
However, what is more impressive is how it is ending in 2024 compared to just two years ago.
As seen on the chart, Stonksy has captured most of bitcoin’s rise from $16,000 to $108,000.
With the weekly chart still in the green background, 2025 could see further upside levels reached.
Sign up for a Stonksy plan today and begin benefiting from the indicator’s performance: https://www.stonksy.io/signup
Ethereum
Ethereum’s weekly chart turned green for the first time since mid-2020 recently. The last time this happened, the price surged to the upside over the following year.
Given the likely eventual turnaround of ETH/BTC and overall altcoin strength, Stonksy may be preparing to catch Ethereum’s rally into price discovery again.
SUI
SUI has been one of the best performing large cap altcoins over the last few months, with the price rallying by 1,000%.
Again, Stonksy caught the bulk of the move, turning green in September.
Dogecoin
Dogecoin remains the memecoin with the biggest market cap and the most well-known coin of its kind.
Stonksy turned green on the weekly chart in November 2023, with the price rallying and dropping over the last 13 months, but crucially never returning to the price the indicator caught.
On the back of Donald Trump’s re-election and the deployment of Elon Musk’s Department Of Government Efficiency (D.O.G.E), the price rocketed, with the strength potentially carrying over into 2025.
Sign up for a Stonksy plan today and begin benefiting from the indicator’s performance: https://www.stonksy.io/signup
Fear & Greed Index
The Fear and Greed Index resides at 64 within the Greed segment.
Investors are ending the year in good spirits after a strong performance by bitcoin over the last 365 days.
However, sentiment did drop off recently from deep into Extreme Greed, suggesting that the market is still very sensitive to slight swings in the price.
Gainers
Losers
Crypto Fear & Greed Index Drops Amid Bitcoin Slump, Hints at Market Volatility
The Crypto Fear & Greed Index has dropped to levels last seen in October 2024 as bitcoin has begun to falter as the year ends. Analysts predict heightened volatility as market sentiment shifts amid end-of-year turbulence.
The Crypto Fear & Greed Index, a key measure of market sentiment for bitcoin and the broader cryptocurrency market, has plunged to its lowest level since October 2024 following bitcoin’s recent price slump.
Market Sentiment Shifts to Greed’s Edge
The index recorded a score of 65 on 30 December, which, while still within the “greed” territory, is notably down from its November highs. This marked a sharp decline from the peak of 94 on 22 November, when bitcoin rallied in response to President-elect Donald Trump’s pro-crypto election victory and the rise of blockchain-friendly lawmakers in the US.
Bitcoin Struggles Below $93,000
Bitcoin’s price, currently hovering between $93,000 and $94,000, has fallen 13.7% over the past 12 days.
Due to this, traders are expressing caution, with some predicting a potential “huge dump” as investors shift toward stablecoins amid heightened volatility.
Volatility Ahead? Analysts Weigh In
Markus Thielen, head of research at 10x Research, is expecting an increase in market volatility following speculation about a parabolic rally leading up to Trump’s inauguration.
Veteran trader Peter Brandt shared insights on Bitcoin’s possible trajectory, introducing the “Hump Slump Bump Dump Pump” pattern—an unusual sequence of price movements involving a rise, decline, recovery, drop, and rebound.
Bitcoin Outpaces Traditional Assets
Despite recent volatility, Bitcoin remains a top-performing asset of the decade. CoinGecko blockchain researcher Prem Reginald highlighted that bitcoin has delivered a 129% return in 2024, far outpacing gold’s 32.2% and the S&P 500’s 28.3% year-to-date (YTD) returns.
Looking Ahead
With sentiment shifting and volatility expected, traders are keeping a close eye on the Crypto Fear & Greed Index as Bitcoin navigates the final days of 2024.
Hong Kong Legislator Advocates for Bitcoin in National Reserve to Strengthen Financial Security
Hong Kong legislator Wu Jiexhuang has proposed adding bitcoin to the national reserve, leveraging the “one country, two systems” policy to strengthen financial security, attract investment, and boost stability amid global crypto adoption.
A Hong Kong legislator is pushing for the special administrative region to leverage China’s “one country, two systems” policy to incorporate bitcoin into its national reserve, aiming to bolster financial security and attract global investments.
The proposal is comparable to the US idea for a bitcoin reserve, which has been touted following President-elect, Donald Trump’s victory in the race for the White House.
Wu Jiexhuang Highlights Bitcoin’s Strategic Potential
Wu Jiexhuang, a member of Hong Kong’s Legislative Council, shared his views with the state-owned newspaper Wen Wei Po, suggesting that Hong Kong study the market impact of US-based spot Bitcoin (BTC) exchange-traded funds (ETFs). Jiexhuang referenced smaller nations like El Salvador and Bhutan, which have embraced bitcoin in their national reserves, and pointed to the growing trend among certain US states.
He also noted US President-elect Donald Trump’s proposal to classify Bitcoin as a strategic reserve asset, highlighting its potential to disrupt traditional financial markets.
Bitcoin as a Catalyst for Financial Stability in Hong Kong
Jiexhuang urged Hong Kong authorities to capitalise on the “one country, two systems” framework by initially introducing bitcoin through ETFs before expanding its integration into the city’s reserves. He emphasised bitcoin’s ability to attract talent, stimulate investment, and provide stability amid market fluctuations.
“By including Bitcoin in national reserves, Hong Kong could mitigate disruptions caused by its growing adoption in traditional markets and position itself as a global financial innovator.”
Regulatory Framework to Support Crypto Integration
Hong Kong’s Financial Services and the Treasury Bureau plans to craft crypto regulations under the principle of “same business, same risks, same rules.” According to Jiexhuang, the widespread adoption of bitcoin as a strategic reserve asset by major economies could lead to greater stability in bitcoin’s value, while simultaneously reducing reliance on traditional financial assets.
“If countries adopt Bitcoin as a strategic reserve, the value of traditional assets may decline, impacting fiscal reserves.”
China’s Role in Bitcoin Holdings
China currently holds an estimated 190,000 bitcoins through various confiscations, making it the second-largest bitcoin reserve globally, surpassed only by the United States. This sizable reserve underscores the potential for integrating bitcoin into national financial strategies.
Hong Kong Legislative Council Explores Bitcoin’s Integration
In mid-2024, another Legislative Council member, Johnny Ng, announced plans to collaborate with key stakeholders to assess the feasibility of incorporating bitcoin into Hong Kong’s financial reserves.
Ng highlighted bitcoin’s growing recognition on the global stage and its increasing relevance in discussions about digital assets and their place within traditional financial systems.
By exploring bitcoin’s strategic integration, Hong Kong aims to solidify its position as a leader in digital asset innovation while ensuring financial stability in an evolving global market.
Top Five Most Memorable Crypto Moments of 2024
Discover the top 5 most memorable Crypto moments of 2024, from Trump's pro-Bitcoin pivot to CZ's viral 'gm' post after jail, and the wild AI memecoin frenzy that rocked the markets.
The past twelve months have been turbulent for crypto, with massive price swings and volatility in most, if not all assets. Bitcoin has seen a gain of over 119%, while Ethereum lagged behind with an increase of 47%. Amidst the bullish vibes, the market and its participants have again delivered a mix of dramatic, hilarious, and market-shifting moments throughout the year.
Here are the top five standout events:
1. The SEC’s Fake Bitcoin ETF Approval
On 9 January, chaos erupted when the SEC’s official X account announced the approval of spot Bitcoin ETFs, sending Bitcoin prices soaring over $1,000 in minutes. The excitement was short-lived; SEC Chair Gary Gensler later clarified their account had been hacked in a SIM swap attack.
Though the tweet was fake, the event highlighted the fragility of market sentiment and the importance of security. Ironically, the actual approval came the next day, cementing this as one of the year’s wildest crypto stories.
Since approval, the ETFs have amassed over $35bn in inflow, and Ethereum has followed suit, gaining an ETF of its own.
2. Trump’s Crypto Pivot
US President-elect Donald Trump shook the crypto world with bold pro-bitcoin promises during his campaign. His caps-locked posts on Truth Social in May and June declaring support for Bitcoin and pledging to "MAKE IT IN THE USA" went viral across X.
Trump's embrace of crypto became a pivotal moment, marking a shift in mainstream political sentiment toward digital assets and sparking optimism for regulatory reform in the United States.
His pro-bitcoin stance was followed up with a win in the race for the White House against Kamala Harris, who replaced Joe Biden over the summer as the Democratic candidate.
Changpeng Zhao, the founder of Binance, broke a four-month silence following his release from prison on 27 September with a simple “gm.” The casual post sparked a flood of memes and reactions on X, marking his return to the crypto scene after serving time for money laundering violations.
The incident showcased the enduring impact of major players like CZ on the crypto community, even in moments of controversy.
4. AI Memecoin Mania
In October, the Andreesen Horowitz-funded AI bot "Truth Terminal" unintentionally sparked a frenzy by endorsing a memecoin called Goatseus Maximus (GOAT). The token’s value skyrocketed to $150m in four days and peaked at over $1.3bn in November.
The combination of AI, memes, and crypto highlighted the unpredictable nature of digital assets and drew attention to AI's role in fueling market hype. Though the excitement has since cooled, the event remains a testament to the strange intersection of technology and finance.
5. Roaring Kitty’s Return Stirs Markets
Keith Gill, aka “Roaring Kitty,” made a cryptic X comeback in May after years of silence, posting an enigmatic image that sent GameStop and AMC shares skyrocketing.
Gill’s influence on the meme stock frenzy reignited, with GameStop shares surging 110% and related memecoins soaring by up to 1,200%. His return proved the enduring power of online movements to shake traditional financial markets.
These moments defined 2024 on Crypto X, highlighting the platform’s role in shaping sentiment, driving market movements, and delivering unforgettable crypto drama.
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