Dogecoin (DOGE)
Dogecoin experienced a significant rise on Monday, surpassing a key resistance level and gaining momentum as a meme coin.
After hitting a low of $0.06068 on Sunday, DOGE/USD surged to an intraday peak of $0.06525.
This surge allowed dogecoin to break through the $0.0640 ceiling, reaching its highest point since August 31.
One of the catalysts for this movement was the breakout at the 65.00 level on the 14-day relative strength index (RSI).
The index is currently at 65.94, with bullish investors likely aiming for the 70.00 level.
Although DOGE's earlier gains have slightly diminished, it is currently trading at $0.06407.
Polygon (MATIC)
In addition to dogecoin, polygon (MATIC) also experienced a strong surge on Monday, reaching a multi-month high.
MATIC/USD soared to a peak of $0.6315 at the beginning of the week, following a low of $0.56 the previous day.
This high propelled polygon to its strongest point since August 16, when the price reached $0.638.
As a result of this rally, the RSI for MATIC rose to a three-month high of 68.79, but failed to break through the 69.00 ceiling.
Currently, the index is tracking at 66.60, despite the 10-day (red) moving average being close to crossing its 25-day (blue) counterpart.
Frequently Asked Questions
Is buying gold a good option for retirement planning?
Although it may not look appealing at first, buying gold for investment is worth considering when you consider the global average gold consumption per year.
Physical bullion bar is the best way to invest in precious metals. However, there are many other ways to invest in gold. It's best to thoroughly research all options before you make a decision.
If you're not looking to secure your wealth, it may be worth considering purchasing shares in mining equipment or companies that extract gold. Owning gold stocks should work well if you need cash flow from your investment.
You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs usually include stocks of precious metals refiners or gold miners.
Can I have a gold ETF in a Roth IRA
Although a 401k plan might not provide this option, you should still consider other options like an Individual Retirement Account (IRA).
A traditional IRA allows contributions from both employee and employer. You can also invest in publicly traded businesses by creating an Employee Stock Ownership Plan (ESOP).
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.
An Individual Retirement Annuity (IRA) is also available. You can make regular payments to your IRA throughout your life, and you will also receive income when you retire. Contributions to IRAs do not have to be taxable
Can the government seize your gold?
Because you have it, the government can't take it. It is yours because you worked hard for it. It is yours. This rule may not apply to all cases. You can lose your gold if you have been convicted for fraud against the federal governments. Additionally, your precious metals may be forfeited if you owe the IRS taxes. You can keep your gold even if your taxes are not paid.
Statistics
- 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)
- 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)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
External Links
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear in 1990 – WSJ
- You want to keep gold in your IRA at home? It's not exactly legal – WSJ
law.cornell.edu
- 7 U.S. Code SS 7 – Designation of boards of trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement funds
irs.gov
forbes.com
How To
A growing trend: Gold IRAs
Investors seek diversification and protection against inflation by using gold IRAs.
Owners of the gold IRA can use it to invest in physical bars and bullion gold. It can be used as a tax-free way to grow and it is an alternative investment option for people who are not comfortable with stocks or bonds.
A gold IRA allows investors to manage their assets without worrying about market volatility. The gold IRA can be used to protect against inflation or other potential problems.
Physical gold is also a great investment option, as it has unique properties like durability, portability, divisibility, and portability.
In addition, the gold IRA offers several other advantages, including the ability to quickly transfer ownership of the gold to heirs and the fact that the IRS does not consider gold a currency or a commodity.
This means that investors who are looking for financial safety and security are becoming more interested in the gold IRA.
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By: Eliman Dambell
Title: Dogecoin and Polygon Surge as Crypto Market Remains Bullish
Sourced From: news.bitcoin.com/biggest-movers-doge-matic-rally-to-2-month-highs-on-monday/
Published Date: Mon, 23 Oct 2023 15:15:07 +0000
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