by Penny Angeles-Tan | Dec 8, 2024 | Business
Bitcoin surpasses $100,000 for the first time, marking a historic milestone in cryptocurrency’s evolution. Explore its institutional adoption, political support under President-elect Trump, and future prospects in the financial mainstream.
In a historic moment for the financial world, the price of Bitcoin surged past $100,000 for the first time on Wednesday, peaking at $103,844.05. This milestone reflects a dramatic increase of over 45% since November 5 and more than 140% year-to-date in 2024.
The rise comes amid an increasingly crypto-friendly political environment, fueled by President-elect Donald Trump’s promises to support the industry.
As you can see from the price chart above, at the time of writing this article on December 5, Bitcoin was at $101,904 with a 5.54% increase. In fact, in the last 24 hours, the price of BTC reached $112,000.
A New Chapter for Bitcoin
Bitcoin, launched 15 years ago by an unknown entity under the pseudonym Satoshi Nakamoto, has transcended its origins as an experimental digital currency. Initially envisioned as a peer-to-peer payment system, many now view Bitcoin as a store of value and a hedge against geopolitical instability and inflation.
Institutional interest in cryptocurrency has skyrocketed, with exchange-traded funds (ETFs) playing a pivotal role.
BlackRock’s iShares Bitcoin Trust ETF, the largest of its kind, has seen significant growth since its launch in January, now valued at over $45 billion.
“There’s growing interest across institutional and wealth-management spaces,” said Jay Jacobs, BlackRock’s U.S. head of thematic and active ETFs. ETFs have simplified Bitcoin investment, allowing mainstream and institutional investors to capitalize on its volatile yet lucrative price movements.
Political Winds Favoring Crypto
President-elect Donald Trump’s surprising pivot from crypto skepticism to advocacy has invigorated the industry. During his campaign, Trump pledged to establish a U.S. Bitcoin “strategic reserve,” eliminate taxes on crypto transactions, and create policies to encourage domestic Bitcoin mining.
His pick of Paul Atkins, a known crypto advocate, as the next SEC Chair signals a likely shift toward lighter regulation, contrasting with the strict enforcement under outgoing Chair Gary Gensler.
Trump’s engagement with the crypto community extends beyond policy. From headlining the Bitcoin Conference in Nashville to using Bitcoin for a high-profile purchase in Manhattan, he has actively courted the crypto demographic.
His administration also plans to establish a dedicated crypto policy role in the White House, marking an unprecedented move in U.S. financial governance.
Market Reactions and Future Prospects
Bitcoin’s rally has sparked renewed interest in the broader cryptocurrency market. Altcoins like Ethereum Classic (ETC) and Bitcoin SV (BSV) have seen double-digit percentage gains, reflecting broader market enthusiasm.
Experts suggest the bull market is far from over, with eToro’s Josh Gilbert noting, “This feels like the early stages of a sustained rally.”
However, Bitcoin’s notorious volatility remains a cautionary tale. Market analysts warn against overexuberance, emphasizing the potential for price corrections. Pav Hundal of Swyftx remarked on the momentum but advised caution, noting that “assets rarely rise in a straight line forever.”
A Paradigm Shift in Financial Markets
Bitcoin’s ascent has drawn comparisons to gold, with Federal Reserve Chair Jerome Powell describing it as a “digital competitor to gold” rather than a rival to traditional currencies. Institutional players like Fidelity, Invesco, and Charles Schwab are preparing to enter the crypto market, underscoring Bitcoin’s growing legitimacy.
Mike Novogratz, CEO of Galaxy Digital, summed up the sentiment: “We’re witnessing a paradigm shift. Bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream.”
Looking Ahead
As Trump prepares to take office in January, the cryptocurrency community is optimistic about a regulatory environment that fosters innovation and mainstream adoption. While challenges remain—from security concerns to potential regulatory hurdles—Bitcoin’s milestone signals a transformative moment for the financial landscape.
The road ahead may not be smooth, but with institutional adoption rising and political support strengthening, Bitcoin’s journey from a niche asset to a global financial staple appears inevitable. Whether this surge heralds a new era or is merely another peak in its volatile history, one thing is clear: Bitcoin has cemented its place in the financial world.
Conclusion
The strengthening of support for Bitcoin has made cryptocurrency more trusted and investors with traditional investment instruments are slowly looking at crypto. If you are one of those people, make sure to always do in-depth research, from technical to fundamental crypto tokens must be checked carefully.
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by Penny Angeles-Tan | Dec 7, 2024 | Business
Explore Ethereum’s (ETH) journey to $3,900 and beyond with bullish predictions for 2025 and 2030. Discover key drivers like institutional inflows, whale activity, DeFi growth, and network upgrades, alongside critical resistance levels and long-term outlooks.
As the second-largest cryptocurrency by market capitalization, Ethereum (ETH) continues to captivate the market’s attention. Amid broader volatility, ETH’s performance suggests strong bullish momentum, supported by institutional interest, increasing on-chain activity, and favorable market sentiment.
Recent Performance and Price Movement
At the time of writing, ETH is trading at $3,895 after experiencing a 5.06% increase with its highest price in 24 hours being $3,901. The current ETH RSI value is even at 72 which means the buying trend is more dominant than the selling trend, even tending to be overbought.
The daily trading volume surged by 4% to over $42 billion, reflecting heightened investor activity. ETH has rebounded above the critical $3,500 resistance level, with technical indicators like the 50-day EMA crossing above the 200-day EMA signaling potential for further gains.
The uptrend aligns with a broader market shift. Bitcoin (BTC) recently reached $100,000, boosting investor confidence across the altcoin market, including Ethereum. However, ETH’s price remains 21% below its all-time high (ATH) of $4,891, set in November 2021.
Institutional Activity and ETFs Driving Growth
Institutional interest in Ethereum has intensified, particularly through exchange-traded funds (ETFs). U.S.—based spot Ethereum ETFs reported eight consecutive days of net inflows, totaling $901.3 million as of early December.
Key contributors include BlackRock’s ETHA fund, with $65.3 million in inflows, and Fidelity’s FETH fund, with $73.7 million.
Despite outflows from Grayscale’s Ethereum Trust (ETHE), the overall inflow trend indicates growing confidence among institutional investors, further supporting Ethereum’s price trajectory.
Whale and Retail Activity Boost On-Chain Metrics
Ethereum whales have played a pivotal role in recent price movements. Whales holding 10K to 100K ETH increased their holdings by 460K ETH in the past week, while those with larger stakes (100K to 1 million ETH) reduced theirs by 490K ETH. This redistribution suggests a shift of ETH from institutions to retail whales.
On-chain activity has also intensified, with Ethereum registering a net outflow of $820 million from exchanges over seven days, indicating accumulation by long-term holders. The total number of Ethereum holders rose to 133.21 million on December 4, emphasizing rising retail interest.
DeFi and Network Growth
Ethereum’s decentralized finance (DeFi) sector continues to thrive, with total value locked (TVL) reaching $72.9 billion. This robust ecosystem supports broader adoption and reinforces Ethereum’s position as a foundational blockchain for DeFi, NFTs, and decentralized applications.
Furthermore, staking flows have seen consistent inflows, reflecting long-term investor confidence. A growing amount of ETH is being locked in staking protocols, reducing available supply and supporting price appreciation.
ETH Price Predictions in 2025 & 2030 and Market Sentiment
Industry experts and financial institutions are optimistic about Ethereum’s long-term potential:
- Deltec Bank predicts ETH could reach $10,000 by 2025 and $22,500 by 2030.
- Standard Chartered projects a 2025 target of $14,000, citing Ethereum’s network upgrades and potential scalability improvements.
- Gigantic-Cassocked-Rebirth (GCR) anticipates a $10,000 price point, driven by DeFi growth and adoption of Ethereum 2.0.
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Finder analysts forecast an average price of $6,105 by 2025, underpinned by institutional investment and technological advancements.
Goldman Sachs has even suggested that Ethereum could surpass Bitcoin as a store of value, thanks to its extensive use in DeFi and its foundational role in blockchain innovation.
Challenges and Key Levels to Watch
While optimism abounds, Ethereum faces significant resistance at $4,000 and its ATH near $4,891. A clear break above these levels, supported by sustained volume and on-chain activity, could validate bullish patterns like the cup-and-handle formation, potentially driving ETH toward new highs of $7,000 or beyond.
However, a daily close below $3,400 could invalidate the current bullish thesis, sending ETH toward support levels around $2,817.
Conclusion
Ethereum’s recent rally is a confluence of institutional interest, strong on-chain metrics, and technological advancements. As it edges closer to the psychologically significant $4,000 mark, ETH appears poised for a defining move. While risks remain, the long-term outlook for the leading altcoin remains promising, with the potential to reclaim its ATH and embark on a new bullish cycle.
Investors should monitor critical resistance levels, market sentiment, and macroeconomic conditions to navigate the evolving landscape effectively.
by Penny Angeles-Tan | Dec 6, 2024 | Health and Wellness
An active lifestyle can be a great way to improve your mood, making you feel happier and more energized. If you’re just finding your groove in working out, there are exciting ways to get your steps in. You can even make the experience more amazing by capping it off with a multigrain snack such as Jack ‘n Jill Nova.
Recently, Jack ‘n Jill Nova hosted NOVAmazing Moves, a series of pop-up events that aim to make movement fun and accessible for everyone through various activities. The multi-gain snack brand aims to support people’s active lifestyles, encouraging them to move with no pressure.
Whether you’re a casual or experienced mover, you can start with these five activities at home:
Dance to your heart’s content
Signing up for a dance or Zumba class can be daunting at first, especially if you’re doing it alone. Once you get past the nerves, you’ll learn to follow the beat and move to your own rhythm. If you don’t want to join a class, no problem. You can always put on your favorite playlist or follow a dance workout video online in the comfort of your own home.
Hula hoop your worries away
Another fun activity that feels like play is hula hooping. This can be a great option if you want to improve your coordination and strengthen your core without the heavy lifting. It can also be a fun bonding activity with the kids in your household.
Biking continues to be a popular activity across multiple generations. If you’ve always wanted to learn how to ride a bike, now’s the time to do it. You can also sign up for indoor biking classes, where you can pedal to lively beats and meet new people.
Running clubs are all over social media these days. Running has grown from being an activity to increase stamina and stay in shape to a community-building effort.
Grab your friends and create your own mini-running club to get your steps in. After all, exercising with friends can be a fun time.
Jump rope can be a fun workout to try because it feels like you’re just playing outside. You can even elevate your experience by jumping to some hip music and learning trendy tricks. This was one of the interactive classes enjoyed by the attendees of the NOVAmazing Moves pop-ups where they learned the basics and a few fun tricks.
These are just some quick and simple activities that can bring activeness and movement to your lifestyle. You can easily make your own NOVAmazing day by treating yourself with a bag of Jack ‘n Jill Nova, which comes in Country Cheddar, Homestyle BBQ, and Sweet Chili flavors. Grab a bag of Jack ‘n Jill Nova at any supermarkets and convenience stores near you.
For more information and updates, don’t forget to like and follow Nova’s Facebook page.Jack ‘n Jill Nova is a product of Universal Robina Corporation (URC), the maker of well-loved Pinoy snack and beverage products such as C2 Cool and Clean, Great Taste Coffee, Jack ‘n Jill Piatos, Nova, Maxx, Cloud 9, Magic Crackers, and many others.
To learn more about URC, visit its website (www.urc.com.ph), Facebook page (@URCPhilippines), and TikTok account (@URCPhilippines).
by Penny Angeles-Tan | Dec 6, 2024 | Business
SARIAYA, QUEZON – PHILIPPINES – Universal Robina Corp. (URC), one of the country’s largest food and beverage firms, is set to open a new mill in Sariaya town, in Quezon Province to boost its production of quality flour further.
Committed To Nourishing The Nation.
With the launch of URC Flour’s newest flour plant, the company is helping lay a solid foundation for advancing food production and security in the country. L-R: Conrado M. Estrella III, Secretary of the Department of Agrarian Reform, Francisco “Kiko” Tiu Laurel Jr., Secretary of Department of Agriculture, Ferdinand “Bongbong” R. Marcos Jr., President Republic of the Philippines, Lance Gokongwei, Chairman Universal Robina Corporation, Irwin C. Lee, President and Chief Executive Officer, Universal Robina Corporation, Ellison Dean C. Lee, Managing Director, Universal Robina Corporation- Flour Division.
“We are seeing an ever-growing demand for our products. This new flour mill will allow us to meet that demand, maintain the quality of our products, and keep our price point competitive,” said Irwin C. Lee, URC President & CEO.
The new facility will use a fully automated flour-milling technology that fully integrates the roller mill’s control and monitoring system in the main station, a first in the Philippines.
Pressing Forward To A Brighter Future.
The URC Flour Sariaya Plant is now operational, which will bring the company’s total milling capacity to over 104,100 bags daily. L-R: Ferdinand “Bongbong” R. Marcos Jr., President of the Republic of the Philippines, Irwin C. Lee, President and Chief Executive Officer, Universal Robina Corporation, Lance Gokongwei, Chairman Universal Robina Corporation, Francisco “Kiko” Tiu Laurel Jr., Secretary of Department of Agriculture and Conrado M. Estrella III, Secretary of Department of Agrarian Reform.
“This Php 5.4 billion investment is an affirmation of our confidence in our economy and the conducive investment climate in our country. It is also a concrete manifestation of our steadfast support in improving our nation’s food security, aligned to the priorities of His Excellency President Ferdinand Marcos Jr. and Secretary Francisco Tiu Laurel to enhance agricultural productivity and strengthen the grain sector,” said Lance Y. Gokongwei, Chairman Universal Robina Corporation. “With the launch of this new flour mill, we are helping lay a solid foundation in advancing food production and security in our country,” added Gokongwei.
URC Flour Sariaya will also have the capability to do fully automatic packing operations, which will speed up the production process and reduce wastage.
This technology upgrade maximizes efficiency at the plant, reduces costs, and cuts URC’s carbon footprint overall. This is in line with URC’s push to reduce the amount of energy and other resources it uses to manufacture its products.
The mill sits on 10 hectares in Sariaya. When fully operational, it will provide at least 150 jobs.
Witness The Unveiling Of A New Era.
URC Flour’s investment in their new Sariaya Flour Mill brings great promise to the local community of Sariaya. Beyond its economic impact, generating jobs and creating business opportunities for suppliers and service providers. L-R: Conrado M. Estrella III, Secretary of the Department of Agrarian Reform, Francisco “Kiko” Tiu Laurel Jr., Secretary of Department of Agriculture, Ferdinand “Bongbong” R. Marcos Jr., President Republic of the Philippines, Lance Gokongwei, Chairman Universal Robina Corporation, Irwin C. Lee, President and Chief Executive Officer, Universal Robina Corporation, Ellison Dean C. Lee, Managing Director, Universal Robina Corporation- Flour Division.
“URC Flour Sariaya is a testament to our unwavering dedication to innovation, quality, and growth,” said Lee. “With its enhanced technology, substantial capacity, and focus on community development, the plant is poised to become a cornerstone of URC’s progress and a catalyst for positive change in the area,” Lee added.
URC Flour is one of the Philippines’ top flour millers. It started commercial operations in 1970, with its first plant in Pasig. It opened its second plant in Davao in 1991.
About Universal Robina Corporation (URC) Flour Division:
URC’s Flour Division is one of the top flour milling companies in the Philippines. With plants present in Manila, Davao, and now Sariaya, Quezon. The addition of this new plant, which is URC’s largest, brings the company’s total milling capacity to an extraordinary 3,470 tons per day, which is equivalent to over 104,100 bags daily. Through its state-of-the-art flour mills and blending facilities, URC Flour Division offers customized products that cater to the specific needs of its customers.
by Penny Angeles-Tan | Dec 6, 2024 | Business
Bitcoin surpasses $100,000, marking a historic milestone in cryptocurrency evolution. Explore key factors, challenges, and future trends shaping Bitcoin’s role in modern finance.
The world’s leading cryptocurrency, Bitcoin, has achieved an unprecedented milestone, surging past $100,000 for the first time during late trading on Wednesday. This marks a watershed moment in the evolution of digital assets, a sector increasingly intertwined with technological innovation, financial strategies, and global geopolitics.
Key Factors Behind Bitcoin’s Ascent
There are many factors about the increase in Bitcoin price today, some of them are:
1. Regulatory Optimism
Bitcoin’s recent rally has been powered by investor anticipation of clearer, more supportive regulations under the incoming administration. The creation of a cryptocurrency advisory council and the potential mainstreaming of crypto assets as part of government reserves have amplified confidence in the sector.
2. Institutional Adoption and Market Dynamics
The approval of spot Bitcoin exchange-traded funds (ETFs) earlier this year opened doors for institutional investors, further legitimizing Bitcoin as an asset class. With ETF holdings exceeding $100 billion, the demand for Bitcoin has surged.
Additionally, the recent “halving” event, which reduced the rate at which new Bitcoins are mined, has exacerbated supply-demand imbalances, pushing prices higher.
3. Market Sentiment and Strategic Buying
Sudden price corrections, historically a source of panic in the market, now represent buying opportunities for a growing pool of investors who view Bitcoin as a legitimate, long-term investment vehicle.
High-profile corporate acquisitions, such as MicroStrategy’s massive Bitcoin holdings worth over $40 billion, continue to anchor confidence in the digital currency.
4. Trump’s Role in Crypto Fever
Donald Trump’s presidency has become a turning point for the cryptocurrency industry. Initially a skeptic, Trump’s pivot to crypto-friendly policies has catalyzed the sector. His administration’s rhetoric and appointments signal a commitment to fostering innovation while reducing regulatory friction.
Critics, however, have raised concerns about the potential risks of deregulation, drawing parallels to past financial crises.
Proponents, like Galaxy Digital CEO Mike Novogratz, argue that Bitcoin’s surge reflects a paradigm shift. Novogratz highlights the convergence of institutional adoption, advances in blockchain technology, and a clearer regulatory roadmap as transformative forces propelling Bitcoin into the financial mainstream.
Challenges on the Horizon
While Bitcoin’s record-breaking rally has been a cause for celebration, its ascent is not without challenges. The cryptocurrency’s inherent volatility, regulatory uncertainties, and environmental concerns remain significant hurdles.
1. Volatility: A Double-Edged Sword
Bitcoin’s price history is a testament to its volatility. Despite its current upward trajectory, past boom-and-bust cycles remind investors of the risks involved. Market corrections are a natural part of any financial asset’s journey, and Bitcoin is no exception.
Analysts like Josh Gilbert and Mike Novogratz caution investors to practice disciplined profit-taking, ensuring they are not overly exposed to potential downturns.
2. Regulatory Uncertainty
Regulation remains a contentious issue in the cryptocurrency space. While Trump’s administration promises a lighter regulatory touch, critics argue that unchecked growth in the crypto sector could exacerbate existing issues such as fraud, tax evasion, and market manipulation.
The nomination of Paul Atkins as SEC Chair suggests a pivot toward more industry-friendly policies, but this shift may face resistance from lawmakers and traditional financial institutions wary of Bitcoin’s disruptive potential.
Additionally, global regulatory coordination is lacking, with some countries embracing cryptocurrencies while others impose outright bans. This fragmented approach could create hurdles for Bitcoin’s seamless integration into the global financial system.
3. Environmental Concerns
Bitcoin mining, the process by which new coins are created, has long been criticized for its energy-intensive nature. With many mining operations relying on non-renewable energy sources, Bitcoin’s carbon footprint has become a growing concern.
Advocacy for cleaner energy solutions within the industry has gained momentum, and some companies are exploring renewable energy options to address these criticisms. However, whether these efforts can scale to meet Bitcoin’s increasing energy demands remains to be seen.
The Institutional Shift
Despite these challenges, Bitcoin’s growing acceptance among institutional investors marks a pivotal shift. Financial giants like BlackRock, Fidelity, and Invesco have not only legitimized Bitcoin but also opened the floodgates for broader participation.
The launch of Bitcoin ETFs has been a game-changer, providing a regulated and accessible entry point for traditional investors.
As more institutions integrate Bitcoin into their portfolios, its role as a hedge against inflation and geopolitical instability continues to strengthen. This mainstream adoption could potentially reduce volatility over time, transforming Bitcoin into a more stable asset class akin to gold.
What’s Next for Bitcoin?
Looking forward, several factors will shape Bitcoin’s trajectory:
1. Policy Changes Under the Trump Administration: Pro-crypto policies, such as tax exemptions and the establishment of a national Bitcoin reserve, could drive further adoption and investment.
2. Global Economic Conditions: Bitcoin’s appeal as a hedge against inflation and currency devaluation makes it sensitive to macroeconomic trends. Rising inflation or economic instability could further boost its demand.
3. Technological Innovations: Advancements in blockchain technology and scalability solutions, such as the Bitcoin Lightning Network, could enhance Bitcoin’s functionality as a payment system and drive broader use cases.
4. Market Dynamics: Continued development of financial instruments, including futures, options, and ETFs, will likely attract more investors and deepen Bitcoin’s liquidity.
5. Public Perception and Education: As awareness and understanding of cryptocurrencies grow, Bitcoin’s adoption among retail investors could accelerate. Efforts to demystify the technology and address misconceptions will be crucial in this regard.
Conclusion
Bitcoin’s milestone is a reflection of how far cryptocurrencies have come—and how much further they could go. While risks abound, the growing institutional interest, regulatory shifts, and technological advancements point to a promising future.
Yet the road ahead will be fraught with challenges that will test Bitcoin’s ability to maintain its momentum and evolve as a cornerstone of modern finance.
As the world grapples with the implications of this digital revolution, Bitcoin stands at the forefront, embodying both the potential and perils of an increasingly digitized financial landscape.
Whether it remains a symbol of innovation or succumbs to the pitfalls of volatility and speculative excess, one thing is certain: Bitcoin’s story is far from over.
The URC Flour Sariaya Plant is now operational, which will bring the company’s total milling capacity to over 104,100 bags daily. L-R: Ferdinand “Bongbong” R. Marcos Jr., President of the Republic of the Philippines, Irwin C. Lee, President and Chief Executive Officer, Universal Robina Corporation, Lance Gokongwei, Chairman Universal Robina Corporation, Francisco “Kiko” Tiu Laurel Jr., Secretary of Department of Agriculture and Conrado M. Estrella III, Secretary of Department of Agrarian Reform.
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