The Money Section | It’s the best time of year for bitcoin prices

͏Also, the IRS is back at it. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [Fort Worth Star-Telegram]( November 29, 2023 • Issue #61 [The Money Section] This week, we’re looking at a possible explanation for why bitcoin prices usually spike in Q4, what fueled the surge behind this record-breaking Cyber Monday, and where inflation hit the hardest for consumers. Bitcoin prices have doubled in 2023. [Bitcoin]( Olive / Money; Getty Images Historical data suggests that Bitcoin experiences significant price spikes in Q4, with average gains of 25% in October, 8% in November, and 11% in December from 2016 to 2021. However, uncertainties in the market and the evolving nature of cryptocurrency make it hard to predict things accurately. [Read more.]( 💵 The U.S. dollar continues to struggle. The dollar had its worst month in a year, dropping 3% against other major currencies amid expectations that U.S. rates have peaked. Investors are watching closely for clues about what the Federal Reserve might do next based on the release of U.S. core Personal Consumption Expenditures (PCE) prices. [See what market predictions are suggesting for next year.]( 🐂 Bull run expected to last through 2023. The U.S. stock market is set for a strong November rally, with expectations of momentum continuing into year-end due to an expanding economy, improved earnings, resilient consumers, moderating inflation, and the belief that the Federal Reserve has stopped raising interest rates. [Here’s what you need to know.]( The IRS is back at it. [IRS]( Eddie Lee / Money; Getty Images The IRS is restarting debt collection after the pandemic pause, aided by new tech and funding. If you owe taxes, you’ll get CP-14 notices; ignoring them can lead to severe penalties. But hey, at least they offer [various payment plans.]( 🚀 Record-breaking holidays. Cyber Monday is anticipated to break records, with consumers projected to spend between $12 billion and $12.4 billion, setting a new all-time high. This surge is fueled by the popularity of "Buy Now Pay Later" (BNPL) options, expected to reach an unprecedented $782 million, an 18.8% increase from the previous year. [Read more.]( ⛽ Stopping for gas now hurts less. Gas prices have dropped for 60 consecutive days, reaching an average of $3.25 per gallon in the U.S. This decline –the longest streak in over a year– is due to a recent drop in oil prices and the seasonal downturn in fuel demand. [See why this trend is anticipated to persist.]( Social Security and the 2024 COLA. [COLA]( Shutterstock Social Security beneficiaries will see a 3.2% cost-of-living adjustment (COLA) in 2024, down from 8.7% in 2023 due to lower inflation. The COLA, based on the consumer price index for urban wage earners and clerical workers (CPI-W), helps retirees cope with rising living costs. [Here’s why some suggest using the CPI-E model instead.]( 😬 See where inflation hit the hardest. US consumers face the impact of prolonged inflation, with the cost of living now requiring $119.27 for what $100 could buy pre-pandemic. Essential expenses like groceries, electricity, used cars, auto insurance, and rents have surged. [Here’s what you need to know.]( 🏠 People are buying even fewer homes than expected. New home sales in the U.S. dropped 5.6% in October to an annual rate of 679,000, below analysts’ expectations. While existing home sales have been declining, new construction homes are seen as an alternative for buyers due to an inventory and affordability crunch. [Read more.]( Smart Money Move A Gold IRA can protect your portfolio and your retirement [Gold] [Gold]Safeguarding your retirement with a Gold IRA can help you shield your wealth from market shifts, economic uncertainty, and inflation. And with gold’s value projected to increase in 2024, now is a good time to invest. Planning for retirement involves more than saving, so fortify your portfolio with gold today and secure a better tomorrow. [See our list of Best Gold IRA Companies to start planning a better retirement.]( The information provided in this email is for educational purposes only and is not intended as investment or financial advice. 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