Have you heard the latest buzz? Bitcoin is on a wild ride, inching close to the $120,000 mark, leaving behind a turbulent market wave. Amidst the chaos of the U.S. government shutdown, investors are finding solace in the steady climb of Bitcoin.
The Rise and Rise of Bitcoin
Political Drama and Bitcoin's Ascent
Picture this: while traditional markets are in a frenzy due to political discord in Washington, Bitcoin is hitting the highs of $119,890. The government's failure to reach a funding deal led to a midnight shutdown, fueling Bitcoin's upward trajectory.
Bitcoin's Unwavering Strength
Surprisingly, Bitcoin closed September with a 5% increase, defying its usual seasonal patterns. This sets the stage for a promising fourth quarter, with historical data suggesting a potential surge above $150,000 by the year's end.
Citigroup's Bullish Stance on Bitcoin
The Bright Bitcoin Forecast
Amidst the chaos, Citigroup analysts unveiled an optimistic 12-month projection for Bitcoin, forecasting a remarkable $181,000 target. With institutional interest soaring and an estimated $7.5 billion inflow, Bitcoin's outlook seems brighter than ever.
Bitcoin vs. Ether: The Winning Bet
Citigroup's preference for Bitcoin over Ether stems from its ability to attract significant capital inflows. The bank's experts believe that Bitcoin's dominance in the crypto market will continue, especially with favorable U.S. regulations paving the way for sustained growth till 2026.
Before this revelation, Bitcoin seemed stagnant, but signs are pointing towards an imminent breakout. Factors like global M2 growth, stablecoin trends, and gold's rally foreshadow a bullish trend, with experts eyeing a potential $150,000 milestone in early November.
Exciting times lie ahead for Bitcoin enthusiasts as the digital currency continues its upward journey. Stay tuned for more updates and get ready to ride the Bitcoin wave!
Frequently Asked Questions
What are the benefits to having a gold IRA
You can save money on retirement by putting your money into an Individual Retirement Account. It's tax-deferred until you withdraw it. You are in complete control of how much you take out each fiscal year. There are many types available. Some are better suited for people who want to save for college expenses. Some are for investors who seek higher returns. Roth IRAs are a way for individuals to make contributions after the age of 59 1/2, and then pay taxes on any earnings upon retirement. Once they start withdrawing money, however, the earnings aren’t subject to tax again. So if you're planning to retire early, this type of account may make sense.
A gold IRA is similar to other IRAs because it allows you to invest money in various asset classes. Unlike a regular IRA you don't need to worry about taxes while you wait for your gains to be available. This makes gold IRA accounts a great choice for those who want their money to be invested, not spent.
Another benefit to owning IRA gold is the ability to withdraw automatically. You won't have the hassle of making deposits each month. To ensure that you never miss a payment, you could set up direct debits.
Finally, gold remains one of the best investment options today. Its value is stable because it's not tied with any one country. Even in times of economic turmoil, gold prices tend not to fluctuate. As a result, it's often considered a good choice when protecting your savings from inflation.
Can I keep a Gold ETF in a Roth IRA
A 401(k) plan may not offer this option, but you should consider other options, such as an Individual Retirement Account (IRA).
A traditional IRA allows contributions from both employee and employer. An Employee Stock Ownership Plan (ESOP) is another way to invest in publicly traded companies.
An ESOP provides tax advantages because employees share ownership of company stock and profits the business generates. The tax rate on money that is invested in an ESOP is lower than if it was held in the employees' hands.
A Individual Retirement Annuity (IRA), is also available. An IRA allows you to make regular payments throughout your life and earn income in retirement. Contributions to IRAs do not have to be taxable
How much do gold IRA fees cost?
A monthly fee of $6 for an Individual Retirement Account is charged. This includes account maintenance fees and investment costs for your chosen investments.
You may have to pay additional fees if you want to diversify your portfolio. The fees you pay will vary depending on the type of IRA that you choose. Some companies offer free checking, but charge monthly fees for IRAs.
Most providers also charge an annual management fee. These fees vary from 0% to 11%. The average rate is.25% per year. These rates can often be waived if a broker, such as TD Ameritrade, is involved.
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
External Links
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement funds
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- How do you keep your IRA Gold at Home? It's Not Exactly Legal – WSJ
finance.yahoo.com
bbb.org
How To
The History of Gold as an Asset
From the ancient days to the early 20th Century, gold was a common currency. It was universally accepted due to its purity and divisibility, beauty, scarcity, and durability. In addition, because of its value, it was traded internationally. Different weights and measurements existed around the world, however, because there were not international standards to measure gold. For example, one pound sterling in England equals 24 carats; one livre tournois equals 25 carats; one mark equals 28 carats; and so on.
The United States started issuing American coins in the 1860s made of 90% copper and 10% zinc. The result was a decrease in foreign currency demand, which led to an increase in their price. The United States began minting large quantities gold coins at this time, which led to a drop in the price. Due to the excessive amount of money flowing into the United States, they had to find a way for them to repay some of their debt. They decided to return some of the gold they had left to Europe.
Because most European countries did not trust the U.S. dollar, they started accepting gold as payment. After World War I, however, many European countries started using paper money to replace gold. The gold price has gone up significantly in the years since. Although the price of gold fluctuates today, it remains one of your most safe investments.
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By: Micah Zimmerman
Title: Bitcoin Price Surge: Citi's Bold Prediction Pushes Towards $120,000
Sourced From: bitcoinmagazine.com/markets/bitcoin-price-flirts-with-120000-as-citi-gives-strong-bitcoin-price-target
Published Date: Thu, 02 Oct 2025 15:34:23 +0000
