Bitcoin’s Spectacular 15% Price Surge in a Week

Dear Readers,

The latest edition of XEROF's weekly newsletter offers important insights into digital assets and high-end living.

Our top digital currency news stories this week are as follows:

• Cryptoasset Markets Experience Bullish Surge
• Ripple XRP Surpasses $0.550 Resistance to Reach $0.586
• South Korea Anticipates Over Six Million Cryptoasset Investors by 2024

We also feature the latest developments in high-end living, including:

• Investors Eye Tokyo: The New Frontier in Second Home Luxury Living
• Al Barari Surpasses London and Singapore: 400% Spike in Property Investments
• Kolkata Sees Surge in Luxury Unit Launches

Cryptoasset News

Cryptoasset Markets Experience Bullish Surge

Bitcoin's bullish momentum has spread to the broader digital currency market this week as all cryptoasset sectors reported gains, according to CoinDesk. The price of Bitcoin has been steadily rising over the last two weeks. It has made gains of around 15% over the last seven days alone. XEROF remarks that Bitcoin's current price movements reflect ongoing discussions surrounding Bitcoin spot ETFs. Expectations for spot ETFs have surged as the SEC refrained from appealing a court decision initially denying Grayscale Investments' application to transform its current Bitcoin trust into a spot Bitcoin ETF.

Ripple XRP Surpasses $0.550 Resistance to Reach $0.586

Ripple’s (XRP) price has moved above the $0.550 horizontal resistance area, reaching a high of $0.586 on October 24. Although this indicates a successful reclamation of the $0.550 price level, a weekly closing above this level has yet to be achieved. XEROF points out that when the RSI (Relative Strength Index) is above 50 and the trend is upward, there is bullish momentum. Conversely, if the reading falls below 50, it suggests the opposite.

South Korea Anticipates Over Six Million Cryptoasset Investors by 2024

Based on a survey by the Korea Financial Intelligence Unit (KoFIU), the number of cryptoasset investors in the nation will surpass six million in the first half of 2024, constituting more than 10% of the total population. Despite a global trading volume dip since March, South Korean cryptoasset exchanges remain robust, notes XEROF.

Luxury Real Estate News

Investors Eye Tokyo: The New Frontier in Second Home Luxury Living

According to Knight Frank's 2023 annual wealth report, individuals with $1 million to invest can secure 60 square metres of prime property in Tokyo. The luxury real estate sector in Japan is experiencing unprecedented growth—a shift from traditional modest living. Wealthy foreign residents seeking second homes in Tokyo drive this trend, leading to rising prices. For discerning investors seeking a second home in Japan that holds substantial potential for appreciation, Japan is an attractive option.

Al Barari Surpasses London and Singapore: 400% Spike in Property Investments

The latest data indicates an impressive 35% surge in Al Barari's property prices per square foot. Dubai's residential property market is outpacing London and Singapore, with pockets like Al Barari showing phenomenal growth rates. The first nine months of 2023 saw a staggering 400% increase in property investment deals and a 35% uptick in residential prices, outperforming other sought-after areas. 

Kolkata Sees Surge in Luxury Unit Launches

Developers in Kolkata announced the launch of 1,030 luxury units priced above Rs 1.5 crore (€170,752) in the July-September quarter this year. Five years ago, in July-September 2018, less than 120 units in this price range had been launched, pointing to a shift in the city’s real estate scenario. As per Anarock Research, as many as 3,300 units were launched in the city in the last quarter across all budget segments.