Trump’s first day executive orders could repeal SEC’s controversial accounting bulletin: Washington Post

As we enter January 2025, Dogecoin (DOGE) is once more piquing the interest of investors and crypto aficionados. With a market capitalization of more than $50 billion, this meme-inspired coin—which is presently trading at around $0.34—has grown to be a key participant in the cryptocurrency market. Given recent price swings, many are guessing about the direction of Dogecoin.

Historical Patterns And Future Growth

There is considerable cause for excitement around Dogecoin. Analyst Cephii has concentrated on historical trends, particularly the notable 1,107% increase in Dogecoin following the January 2021 inauguration of US President Joe Biden.

Cephii speculates that something like this could occur following Donald Trump’s January 20, 2025 election. History will most likely repeat itself, hence the value of Dogecoin will grow significantly and reach roughly $4.15.

Trump’s inauguration is scheduled for January 20, 2025. In contrast to previous administrations, his victory has already positively influenced the whole crypto market. The values of other cryptocurrency assets, including Dogecoin, surged immediately upon the confirmation of Trump’s victory.

Market Predictions And Sentiment

Market sentiment about Dogecoin is caution and optimism all mixed together. While some analysts would call for a more cautious approach to pricing, others join Cephii in his bullish stance.

There are vast variations in predictions of the future price of Dogecoin, with some even hitting modest increases while others believe the meme coin has a big chance of reaching $5.

The latest 14% increase has been primarily credited to large investors, or “whales.” This is an indication of a rising confidence that Dogecoin will soon cross the much-anticipated $1 threshold.The Bitcoin Connection

Investors in the volatile cryptocurrency market need to be ready to deal with a wide range of challenges and opportunities. While some analysts are pessimistic about Dogecoin’s long-term prospects, experts like Cephii are bullish on the prospect of significant price gains.

Though Cephii’s research points to a fascinating potential for value growth, investors should proceed with care due to the unpredictable nature of the cryptocurrency market.The Road Ahead

The future performance of Dogecoin will be continuously tracked. Given its impressive correlation with the flagship digital asset—nearly 97% over the past month—Dogecoin may profit if Bitcoin continues to rise. This connection highlights the significance of monitoring these market dynamics by linking Dogecoin’s trajectory to fluctuations in the price of Bitcoin.

Featured image from Pixabay, chart from TradingView

Cliff Asness, one of the most prominent hedge fund managers, remains a Bitcoin skeptic despite the cryptocurrency's record-shattering rally.

During a recent interview with CNBC, Asness suggested that the crypto king could be a "bubble," arguing that it had no legitimate use case.

With that being said, Asness said that he would refrain from shorting crypto due to its high volatility.

The American billionaire, whose personal net worth is estimated to be $2.1 billion, has long been a cryptocurrency skeptic

Back in 2021, Asness dismissed the idea of following cryptocurrency trends as a quant trader.

"You know you can trade anything as a trend follower and we have not done this," he said.

He said that he was somewhat cynical that someone was going to come up with "a really good valuation model" for what the right price of the largest cryptocurrency is.

"I can’t remember if I mentioned this before, but has anyone noticed Bitcoin and the crypto backup singers are pure risk-on bubble assets? Feel like I have. If a made-up pretend money could feel embarrassed it would," Asness tweeted following the FTX-driven cryptocurrency market crash that took place in the fourth quarter of 2022.

As reported by U.Today, JPMorgan CEO Jamie Dimon also recently stated that he did not "feel great" about Bitcoin, arguing that it was mainly being used for criminal activities such as money laundering.

Despite winning over such influential individuals as BlackRock's Larry Fink and achieving signifincalty broader institutional adoption, Bitcoin still has a long way to go until more skeptical traditional finance players finally embrace it.

Die Stimmung am Kryptomarkt war schonmal besser. Die Neujahrsrallye haben sich die meisten Anleger wohl anders vorgestellt. Immerhin hat man von allen Seiten gehört, dass dem Kryptomarkt unter Donald Trump eine großartige Zukunft bevorsteht. Nun steht Trump kurz vor dem Amtsantritt und der Kurs befindet sich im freien Fall. Bedeutet das, dass die Rallye für 2025 abgesagt ist und das Ende des Bullruns bereits erreicht ist, oder kann es für Bitcoin schon bald wieder bergauf gehen?

90.000 Dollar Marke unterschritten

Der Bitcoin-Kurs bewegt sich schon seit Monaten in einer breiten Spanne seitwärts. Dabei bildet die 90.000 Dollar Marke das untere Ende dieser Seitwärtsrange, während nach oben hin meist bei 102.000 Dollar Schluss war. Eine Ausnahme hat es mit dem Ausbruch auf das Allzeithoch von 108.000 Dollar gegeben. Nun bewegt sich die größte Kryptowährung der Welt wieder am unteren Ende dieser Spanne.

Semler Scientific has bought an additional 237 Bitcoin for approximately $23 million, or just over $98,000 per coin, the healthcare technology company said on Jan. 13.

It bought the BTC using proceeds from stock sales and operating cash flow. The company now holds a total of 2321 BTC, worth nearly $192 million. It bought the BTC for an average cost basis of less than $83,000 it said.

Semler has issued more than $120 million of stock to finance BTC buying, among other activities. The BTC purchases brought the stock’s “Bitcoin yield” up from 72.6% to 99.3%, it said.

Bitcoin yield measures the ratio of BTC holdings to outstanding shares and sets BTC-per-share as a lodestar for corporate performance. Semler said the metrics serve to “supplement an investor’s understanding” of its BTC buying strategy.

In July, Semler executives said buying BTC allowed the struggling company to finally emerge from “zombie” status. Zombie companies earn just enough to continue operating and service debts but have no excess capital to spur growth and are often close to insolvency.

On Nov. 4, the company’s CEO, Doug Murphy-Chutorian, said Semler Scientific remains “laser-focused on acquiring and holding Bitcoin.”

By Tomi Kilgore

Software company has spent more than $18 billion in past couple months to bulk up its bitcoin holding, at shareholders expense

Shares of MicroStrategy Inc. slumped again on Monday, after the software company and cryptocurrency play disclosed that it resumed bitcoin purchases at prices well above current levels.

The company continued to lean on shareholders to fund the purchases, as it used the $243 million raised through the sale of common stock.

The stock (MSTR) dropped 3.3% in afternoon trading and has tumbled 16.4% amid a four-session losing streak. At the same time, bitcoin (BTCUSD) (BTCUSD) was down 2.7% and has shed 10.1% over the past four days.

MicroStrategy said that between Jan. 6 and Jan. 12, it bought about 2,530 coins at an average price of $95,972 per bitcoin, which is 4.5% above current levels.

At the same time, the company said it raised $243 million through the sale of another 710,425 common shares to pay for the bitcoin purchases.

Read: MicroStrategy shareholders continue to shoulder the cost of more bitcoin buys.

The disclosure shows that MicroStrategy took a break from buying bitcoin between Jan. 1 and Jan. 5. Prior to that, the company's disclosures showed that it was buying bitcoin between Oct. 31 and Dec. 31.

On Oct. 30, the company announced a plan to sell up to $21 billion worth of stock, and $21 billion of convertible debt, to buy more bitcoin.

Since Oct. 31, the company has spent $18.3 billion to buy 197,780 bitcoin, at an average price of $92,565 per bitcoin, which is just 0.8% above current levels.

The stock has dropped 33.1% since it closed at a record $473.83, but was still 39.1% above where it closed the day before Donald Trump's election win.

Read more about why Trump is seen as favorable for cryptocurrency markets.

Also read: What the big 'key reversal' pattern in MicroStrategy's stock chart could mean.

MicroStrategy said that as of the Jan. 12 close, the company owned about 450,000 bitcoin, which were acquired for about $28.2 billion at an average price of approximately $62,691 per bitcoin.

At current prices, that holding would be valued at $41.34 billion.

The company also said as of Jan. 12, about $6.53 billion remained in its plan to issue and sell up to $21 billion worth of common stock.

MicroStrategy shares have soared 49.1% over the past three months, while bitcoin has hiked up 47.3% and the S&P 500 index SPX has been little changed.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

December's cryptocurrency exchange volume reached $2.94 trillion, marking the second consecutive month above the $2 trillion threshold and representing an 8.5% increase from November's $2.71 trillion.

While Binance maintained its market-leading position with $1 billion in volume, several mid-tier exchanges demonstrated significant growth. BitGet's volume doubled from $88 billion in November to $178 billion in December, while OKX and Huobi processed $177 billion and $95 billion in transactions, respectively.

The volume distribution suggests an evolving market structure, with mid-tier exchanges capturing a larger share of total market volume and APAC-based platforms showing increased prominence.

This shift in trading activity indicates broader geographical participation and a more diverse investor base. The robust volumes coincided with strong market performance, as Bitcoin traded consistently in the $90,000-$94,000 range and the total cryptocurrency market capitalization remained above $3 trillion.

Altcoins benefitted from the month, as Bitcoin's dominance dropped to monthly lows of 51% before ending the year at 54%. Bitcoin dominance is commonly used to indicate when capital is rotating between Bitcoin and Alts.

Multiple factors appear to be driving market dynamics, including growing retail participation across various regions, novel product offerings from smaller exchanges and enhanced market infrastructure supporting higher volumes.

The increased activity also reflects broader institutional acceptance of cryptocurrency trading, particularly as markets anticipate President Trump’s inauguration this month.

We’ll see if the trend continues as institutional traders return to their desks after the holiday period.

This is an excerpt from The Block's Data & Insights newsletter. Dig into the numbers making up the industry's most thought-provoking trends.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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