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EXCLUSIVE: Tim Draper Predicts Bitcoin To Reach $120K By End Of 2024, $250K In 2025

Tim Draper, a prominent venture capitalist and cryptocurrency enthusiast, has made Bitcoin price predictions since 2014. That year, Draper predicted Bitcoin to be $10,000 by the end of 2017. Despite skepticism, his forecast proved accurate, as Bitcoin hit $10,000 in November 2017 during its dramatic bull run. In 2018, Draper forecast Bitcoin to reach $250,000 by the end of 2022. This bold prediction was not fully realized, though Bitcoin did reach an all-time high of approximately $69,000 in Nov

Bitcoin options trade shows more bets on retreat after failing to breach $100,000

Investors in the world's largest cryptocurrency are anticipating a significant downward move after bitcoin failed to hit an all-time peak of $100,000, according to a crypto trading platform citing recent options activity. Bitcoin hit a record high of $99,830 on Nov. 22, but it has since fallen more than 8% to a one-week low of 91,377.32 on Tuesday. The best-known cryptocurrency has soared 120% so far this year and about 34% this month with the election of Donald Trump as U.S. president and a slew of pro-crypto lawmakers in Congress.

Fed Minutes Show Officials Prefer Future Rate Cuts to Be Gradual

(Bloomberg) -- Federal Reserve officials indicated broad support for a careful approach to future interest-rate cuts as the economy remains solid and inflation slowly cools, minutes from their latest policy meeting showed.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNY

Federal agency raises the size of most single-family loans the government can guarantee to $806,500

The Federal Housing Finance Agency is increasing the size of home loans that the government can guarantee against default as it takes into account rising housing prices. Beginning next year, mortgage buyers Fannie Mae and Freddie Mac will be able to acquire loans of up to $806,500 on single-family homes in most of the country, the agency said Tuesday. FHFA oversees Fannie Mae and Freddie Mac, which buy home loans from banks and other lenders, guaranteeing them against default.

Goolsbee Says It Makes Sense to Slow Cuts as Fed Nears Neutral

(Bloomberg) -- Federal Reserve Bank of Chicago President Austan Goolsbee said it would be “perfectly sensible” for the US central bank to slow down the pace of its interest-rate cuts as it approaches what it deems a neutral setting for monetary policy.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System Ma

Top Oil Traders Say OPEC+ Has Little Room to Increase Supply

(Bloomberg) -- OPEC+ has few options when it comes to bringing back the oil production capacity it has been keeping off the market, according to some of the world’s top energy trading houses.The group will discuss on Dec. 1 whether to return barrels to the market, and senior trading executives said they expect the supply increase to be pushed back again. Oil prices have dropped toward $70 a barrel due to weaker-than-expected demand this year and the outlook for strong supply in 2025.“I think tha

Saudi Arabia Cuts Spending to Reform Economy Amid Lower Oil

(Bloomberg) -- Saudi Arabia outlined plans to trim spending in 2025 after overshooting targets this year in an effort to progress a trillion-dollar economic transformation plan.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5