By Bill Taylor, CEO / Digital Wealth News and AI & Finance
DISCLAIMER: The opinions expressed below are solely those of Bill Taylor & do not represent those of DWN or any affiliates. Any financial advice included here is for entertainment purposes only.
Bullish for week of 12/24/24
BTC
Neutral for the week of 12/24/24
S&P 500 | GOLD | ETH
Bearish for week of 12/24/24
12/24/24 Closing Prices :
BTC: $97,204.78 | -8.7% | (Tue-Tue)
ETH: $3,451.11 | -12% | (Tue-Tue)
Gold: $2,585 | -1.1% | (Tue-Tue)
S&P 500: 6,040.04| -0.01% | (Tue-Tue)
MERRY CHRISTMAS……..HAPPY HOLIDAYS……..LET’S GO 2025!!
Short and sweet. It’s Christmas Eve and a short day in the financial markets (except BTC and ETH). Here we are at the end of the year and holiday trading is thin. Be careful.
It appears the “Santa Claus rally” is under way. BUT, the real question is what happens when the calendar turns to January. New year. Will there be a “January effect” rally? It’s 50% for a huge rally OR 50% for a big selloff with economic uncertainty going into 2025. Not great odds.
So……..GOLD is going nowhere and is actually trending lower with interest rates rising. The S&P 500 has had a great run but has paused up here at all time highs. Valuations are crazy. ETH is no longer “partying” with BITCOIN. I am going neutral on ETH and remaining neutral on GOLD and the S&P, notwithstanding the possibility of a January rally. Bad odds.
Now, BITCOIN. OMG. The best is yet to come and it’s close. Like a volcano ready to erupt. Should (IF) President-elect Trump announces a U.S. sovereign wealth fund after being sworn in January 20th……well, don’t even think about a short play (clue; it sure ain’t going to zero). Gotta be long. Oh, I hear Santa is a BITCOIN buyer – lol!!
Be safe, enjoy the holidays and let’s look forward to a great new year!!
2024 TARGETS:
- BITCOIN 2024……..$95K………..$125K-$130K
- ETH 2024…………$4,500
- GOLD 2024……….$4,000………now $3,000
- S&P 500 2024……..??????????
Current trading positions:
- LONG BITCOIN
- LONG ETH
- NEUTRAL GOLD
- NEUTRAL S&P 500
We compare the price of Bitcoin, Ethereum, Gold & the S&P 500. We use the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference as well as the London Bullion Market afternoon price settlement on the digital assets & gold.
Bill Taylor is CEO of Digital Wealth News. He is widely published & quoted in financial media and an international expert on markets and BTC, ETH, Gold & SP500.
His opinions are solely his own and for informative purposes only.
