Bitcoin Predictions and Market Fluctuations

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Bitcoin is expected to break the $100,000 level in December 2024 after Donald Trump, largely seen as friendly to the cryptocurrency, won the U.S. elections. Industry executives and crypto investors see strong momentum for bitcoin, with several predicting that it will continue to rise.

Meanwhile, in a bid to secure government approval for its nuclear energy project, Nippon Steel has offered to give the U.S. government a discount on its visual language model, slashing prices by up to 85%, the company announced Tuesday. The model, named Qwen-VL, is designed to understand both texts and images. Alibaba's move signals the growing competition between Chinese tech giants as they aim to gain market share for their artificial intelligence products. The S&P 500 rose an average of 1.3% during the 'Santa Claus rally,' according to Dow Jones Market Data going back to 1950. However, the index fell over the last few trading days of 2024, diminishing hopes of the rally taking place. Its failure to appear might be a sign that the market is less optimistic about the future. The broad-based index blazed through the gates right from the start of 2024. In the first quarter of the year, it jumped up 10.2%. That's more than 10 times its average gain since 2000, noted CNBC's Robert Hum. That momentum couldn't be sustained. The S&P added 3.9% and 5.5% in the second and third quarter, respectively, of 2024. In any other year, investors might not have been disappointed with those figures. But the index's first-quarter performance set the bar so high that subsequent quarters seemed to pale in comparison. In the final quarter of 2024, the S&P limped forward just 1.9%. Making things worse, someone out there was naughty, preventing Santa from conducting his typical year-end rally in the stock market. Of course, a gain is a gai

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