Content:
Crypto Price Predictions
Personal Journey Update
Weekly Fact
Quote of the Week
Crypto Price Predictions
As we bid farewell to the harsh crypto winter of 2022/2023, the recent resurgence at the end of 2023 has set the stage for what could be an extraordinary year in 2024.
Here are three bold predictions for the upcoming year that might reshape the crypto landscape:
Bitcoin's Triumph: New All-Time High in 2024
Bitcoin is anticipated to outshine its performance in 2023 and hit a new all-time high.
The imminent halving in April 2024, reducing Bitcoin's inflation rate to 0.85%, historically triggers substantial price appreciation.
Previous halvings have resulted in an average price increase of over 128%, and this time, with a reduced available coin supply, Bitcoin might breach the $99,000 mark.
Stacks Soaring: Doubling in Value and Entering Top 20
Stacks (STX), operating as a Layer 2 on the Bitcoin blockchain, is positioned to further the Bitcoin renaissance.
The Nakamoto Release in April will introduce innovative functionality, allowing seamless swapping of Bitcoin for sBTC for DeFi activities, and then redemption back to BTC.
With the Bitcoin renaissance gaining momentum, Stacks is expected to double in value and secure a spot among the top 20 cryptocurrencies.
Ethereum's Comeback: A Historic Run in 2024
Ethereum (ETH), after a relatively subdued 2023, is poised for a resurgence.
The scheduled EIP-4844 upgrade in the year's second half will address Ethereum's challenges, reducing transaction costs and boosting throughput to 100,000 transactions per second.
As the epicentre of decentralized finance (DeFi) and with crucial upgrades in the pipeline, Ethereum is expected to make a historic run, reaffirming its dominance in the crypto world.
In the ever-evolving realm of cryptocurrencies, these predictions might seem audacious, but as seasoned crypto enthusiasts know, the unexpected is often the norm in this space.
Buckle up for what could be an exhilarating ride in 2024!
Remember this is not financial advice these are only my honest opinion and I am in no way shape or form an expert. Any investments you make should be backed by your OWN research or with the help of a professional financial advisor.
Bitcoin ETF Inches From Finish Line
The SEC takes a crucial step in the approval process of Bitcoin ETFs. BlackRock, Grayscale, and 21Shares have submitted 19b-4 amendments. While this signals progress, the market seems cautiously optimistic.
Key Points:
Unofficial Approval for Bitcoin Spot ETFs
The SEC has accepted 19b-4 forms, indicating an unofficial approval of Bitcoin Spot ETFs.
Major players, including BlackRock and Grayscale, completed a critical step in the approval process.
Final Steps in the Approval Process
The 19b-4 filing is one of the last steps in the SEC's approval process.
Asset managers, including the likes of BlackRock, are set to complete their S-1 documents, enabling US Exchanges like NASDAQ to list shares of investment securities.
Timeline for Trading Start
Senior Bloomberg analyst Eric Balchunas notes that final S-1 documents are due by 8 am on Monday.
If completed on time, the ETF could start trading on Thursday with at least 11 proposals expected to be approved.
Market Reaction: Caution Prevails
Surprisingly, the market response is muted despite the positive development.
Bitcoin struggles to recover, hovering around $44,000, with cautious sentiment prevailing in the market.
Caution Amidst Positive News
Open interest in perpetual futures contracts remains low, indicating investor reluctance.
Analysts caution that the market could see a 'sell-the-news' event despite the excitement around the ETF approval.
Rumours and Deadlines
Speculation circulates about BlackRock buying $2 billion worth of Bitcoin post-ETF approval.
The earliest SEC approval deadline is January 10, with a possibility of extension based on decision-making timelines.
A Matrixport report on January 3 predicted a potential rejection of all Bitcoin ETFs, causing concerns in the crypto market.
On the Flipside:
The Bitcoin Spot ETF signifies a significant leap for the crypto industry, potentially attracting traditional finance exposure to BTC.
However, uncertainties about the SEC's decision and fears of potential delays are prevalent.
Personal Thoughts:
The Bitcoin ETF will no doubt create an explosion for Bitcoin’s price, maybe not straight away but over time it will definitely have an impact.
My only worry is with all this traditional finance money flooding into crypto, it is sure to drag in more corruption that usually follows the traditional finance system.
Microsoft's Bold Move with Copilot Key
Microsoft's groundbreaking move involves a dedicated AI key on standard PC keyboards.
Key Points:
Microsoft's Copilot Key Unveiled
Microsoft introduces a new standard PC keyboard layout featuring a dedicated "Copilot" key.
The key replaces the traditional right Control key and signals Microsoft's deepening commitment to AI dominance.
Significance of the Move
The adjustment is the first change to the Windows keyboard layout in approximately 30 years.
Laptops and keyboards with the Copilot key are set to hit the market as early as late February, underlining Microsoft's emphasis on AI integration across its product spectrum.
AI Integration Strategy
Microsoft strategically incorporates "Copilot" functionality across its product portfolio.
The company aims to make its AI technology highly visible, relying on this visibility to drive demand.
User Appetite for AI
The move prompts questions about whether Windows users truly desire an AI shortcut, especially Microsoft's brand of AI.
Success stories of companies like OpenAI and profitable ventures like Midjourney are cited, emphasizing the rarity of turning viral AI hits into sustainable successes.
AI Processing Shift
Microsoft, in collaboration with chip partners AMD and Intel, anticipates a shift in AI processing from costly data centres to local silicon.
Intel's new consumer chips, equipped with custom-designed cores for AI operations, align with the vision of commoditizing AI by integrating it into everyday devices.
Challenges and Outlook
The success of this approach is contingent on whether Windows users and enterprise customers, amidst Copilot advertising, embrace and invest in the technology.
Microsoft's bet on localizing AI processing faces uncertainties, with user adoption being the ultimate litmus test.
Personal Thoughts:
Microsoft's Copilot key introduction sparks anticipation and scepticism. The weeks ahead will unveil whether it's a masterstroke or a prompt for a Windows keyboard redesign.
I think AI is incredible I use it every day but it’s obvious why big companies like Microsoft like it.
Even though the cost to run AI is a big one and largely unprofitable The personal data it harvests from its users is far greater than the usual cookies we’re used to on most websites.
The data is so much more accurate and detailed making it a lot more profitable not just for companies to use themselves but to sell on to third parties.
AI is a marvellous tool but boy does it come with a price, be careful people.
Personal Journey: Consistency
I’ll keep this one short, consistency, that’s what I’m striving for this year.
It’s very broad, I know, but I don’t feel I want to change much to my routine, I just want to stick to it for longer.
The newsletter will continue and I’m hoping to market it a little more this year now that I have found a sustainable rhythm.
To all the current subscribers, I thank you for sticking with The Weekly Grow Newsletter. I really do appreciate you and hopefully, when this newsletter gains a little more traction I can give something back to my long-serving subscribers.
2024… Let’s Go!
Weekly Fact
The first online gaming was before the year 2000.
Sega Dreamcast was the first 128-bit console to hit the market.
Released in 1999, it was the first console that allowed real-time online play.
Unfortunately, it was a little too early for its time, as back then, most internet connections were not reliable enough.
Quote of the Week
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