[b]bitcoin confidently breaks $60,000[/b]
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Today, Bitcoin is not just the first cryptocurrency but a true digital gold with a market capitalization of over $1.20 trillion. This investment volume is comparable to the market capitalization of Meta Platforms Inc. (formerly Facebook) on the NASDAQ stock exchange.
Only 2 months into the year, the BTCUSD exchange rate has grown by more than 50%! In just the last week, the cryptocurrency has added 25% to its value, reaching a new milestone of $64,000 without retracements.
On January 12, 2024, we published the news "The path to limitless cryptocurrency growth is open!" about the approval of 11 applications for creating exchange-traded Bitcoin funds. By February 28, the trading volume of Bitcoin ETFs reached $7.69 billion! The influx of funds into Bitcoin is simply colossal; BlackRock alone increased its balance to 151,536 BTC for its spot BTC-ETF.
The overall market capitalization of the crypto market grew by 12% in the last week. There is active discussion in the network about the imminent approval of a spot ETF for Ethereum (ETH). Need we mention what might happen to its price? The price of Bitcoin is a vivid example. The excitement around crypto assets is only growing, the media actively fuels investor interest, and companies and funds continue to increase their investments.
FreshForex analysts have twice talked about the inevitable growth of cryptocurrencies, and new records are expected ahead. Don't miss the chance – earn with us!
Japan's nikkei index hits historic high!
The Nikkei 225 - Japan's key stock index comprising 225 companies from the Land of the Rising Sun listed on the Tokyo Stock Exchange. It is calculated as the arithmetic mean of their values. The index was introduced in 1950 and named after the newspaper that first applied such a calculation methodology to the Japanese stock market.
The Tokyo Stock Exchange (TSE) is one of the largest in the world, with over 2,000 companies represented, including brands known to everyone - Toyota, Sony, Mitsubishi, Nintendo, SoftBank, and many others. In terms of market capitalization, TSE is second only to the New York Stock Exchange.
The historic peak of #NIKKEI was reached on December 29, 1989, when the index rose to 38,957 points during the day's trading. And now, for the first time in 34 years, in our days, #NIKKEI has exceeded the 40,000-point mark.
FreshForex analysts point to the following factors driving the growth of the Japanese stock market in 2024:
- Strengthening of technology company stocks and reports of high corporate earnings,
- Investor optimism amid billionaire Warren Buffett's investment in major Japanese companies (Berkshire Hathaway holding),
- Exporter stocks supported by a weakening yen, increasing their profits in the national currency,
- Rising inflation to 2.8% - a radical change compared to the deflation of previous years when constant price declines negatively affected company profits.
Thanks to these factors, traders worldwide see increasing opportunities in the Japanese market.
In 2023, the Nikkei 225 gained 29%, marking the highest annual growth in a decade. And since the beginning of the current year, it has added another 22%, making the contract extremely attractive for investment.
Evaluate the potential of the #NIKKEI contract alongside successful traders on our trading platform!
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S&p 500 index continues to rise - up 9% since the beginning of the year!
S&P 500, the key stock index comprising shares of the 500 largest publicly traded companies in the US, showed a growth of 23% in 2023, and has already added 9% since the beginning of this year, as can be clearly seen on the chart:
FreshForex analysts have highlighted the following growth factors:
- Stable economic growth in the US and significant corporate earnings.
- Shares of the "Fabulous Seven" (companies strongly influencing the index such as #Apple, #Amazon, #Google, #Meta(Facebook), #Microsoft, #Nvidia, and #Tesla) are rising due to the implementation of artificial intelligence. The "Fabulous Seven" are still available for trading on our platform and represent an interesting idea for long-term investments. The Fed has again confirmed its readiness for three interest rate cuts, supporting growth in the American stock markets. Investors are eagerly awaiting new signals about the dynamics of interest rates in the US.
- Last month, analysts at HSBC and BofA Global Research forecasted that by the end of 2024, the index would reach 5400, while Oppenheimer estimated it at 5500.
- And yesterday, Wells Fargo, one of the largest financial companies in the US, forecasted that the #SP500 index will rise to 5535 points by the end of this year. This is the highest forecast among all brokerage firms on Wall Street.
Thus, investors around the world seem to be ignoring the possibility that stock valuations have risen too high against the backdrop of the overall market rally, providing even more opportunities for growth. At the same time, professionals will be monitoring whether Wall Street giants can justify the huge rise in stock prices seen over the past three months.
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