If you didn’t know, from today (10 July 2024), South Africans and Botswanans need to apply for a Visa to visit Ireland.

And there have been some developments on the BTC and Ethereum front, so we’re here to help you navigate the news – plus help you negotiate your bills…

Shining some light on 🔦 

• Stabilising effect: Keeping your cool around July crypto.

• Stock update: Higgo’s Top 10 stock picks for 2024.

• SA mining stock drop, US guns for Temu & Ethereum ETF.

• The results: Your main financial goals for the year.

• The update: Know our ideal Wealth CEO candidate?

Keeping Your Cool Around Crypto

We’ve recently received some queries about crypto, especially concerning the BTC price falling and the ETF turning negative, as well as the recent drop in Ethereum. 

This may have come as a surprise since July has historically been a favourable month for cryptocurrencies. But despite recent market fluctuations, there are several key insights worth considering.

1. Bitcoin’s Dip Was Expected

One of the main reasons for the recent dip in the crypto market is Germany's decision to sell off a significant portion of its bitcoin holdings – 50% so far.

This could put some pressure on Bitcoin's price over the next three weeks, as the market will be adjusting to such a large-scale sell-off. But don’t forget that it’s all steps towards eventual market stability.

Another factor influencing the market is the liquidation of cryptocurrency exchange Mt Gox. It went bankrupt 10 years ago, and the liquidation is happening now, which just happens to coincide with the German sell-off.

it’s a unique market dynamic, but the good news is that once these sales are complete, the market should experience reduced fear and uncertainty, potentially paving the way for recovery.

2. BTC Post-Halving Stability

Bitcoin typically experiences a period of stability following its halving events before it begins to rise again – remember our earlier post on the bitcoin halving.

This pattern is consistent with the current market behaviour, indicating we're still within a normal 4-year cycle. Patience and careful observation are key during these periods.

3. Ethereum's Promising Outlook

Despite the recent dip, Ethereum is showing great promise, particularly with the anticipated launch of the Ethereum ETF this week or the next. That’s basically what everyone is preparing for, and it could bring a significant boost to Ethereum's market performance. 

It's an exciting time for Ethereum enthusiasts, as the ETF could attract more institutional investors and drive up demand.

4. Looking Ahead

Looking ahead, several metrics suggest that bitcoin might reach its peak around March/April 2025. We are currently holding on to our BTC. If we were looking to sell, though, we’d only start doing so from November onward, slowly moving to next April to get the maximum benefit out of it.

In the short term, a positive development for crypto could be if Trump wins the upcoming US election, given his pro-crypto stance. Additionally, expected interest rate cuts from the Fed over the next eight months could inject liquidity into the market, which would be beneficial for cryptocurrencies.

All in all: We are not buying more cryptocurrency at this time, but we’re also not selling off any holdings.

Note: This is not financial advice, merely observations. For personalised financial advice, you can book to speak to a financial advisor here (powered by a registered FSP: No. 51310).

STOCKS AND ALL

🏰 Scottish Mortgage Share Buyback Boost: The Scottish Mortgage Investment Trust recently purchased £311 million worth of its own shares in a single day to narrow the discount to its net asset value from 14% to 6%. The share price benefited, showing a 45% return for the year, with an optimistic outlook for the remainder of 2024.

👟 On Holding AG Consensus: On Holding AG, known for its innovative athletic footwear, has received a consensus rating of “Moderate Buy” from brokerages. Despite market volatility, analysts see significant growth potential in the company's expanding market reach.

💎 Mining Stocks Drop: South African mining stocks experienced a downturn on the JSE due to profit-taking. This pullback follows a strong performance earlier in the year, highlighting the sector's volatility and investor sensitivity to commodity prices.

🌐 Temu Under Scrutiny: The US scrutinises China-linked e-commerce platform Temu for alleged market disruptions. Despite regulatory challenges, Temu’s parent company, PDD Holdings, has seen a 125% increase in stock over the past three months, driven by robust sales growth.

💰 Ethereum ETFs on the Horizon: Ethereum ETFs are nearing approval by the SEC, sparking significant interest among investors. Despite a recent drop in Ethereum prices, the potential for ETF launches in the US could drive renewed market enthusiasm.

UPCOMING EARNINGS REPORTS

These companies are expected to deliver earnings reports in the next few weeks:

• Blackrock: Jul 15, 2024

• ASML Holdings: Jul 17, 2024

• Omnia Holdings: Jul 19, 2024

• Anglo American Platinum: Jul 22, 2024

• Kumba Iron Ore: Jul 23, 2024

Need Help With Tax Filling?

Tax season starts next Monday, 15 July 2024.

And the FinMeUp team are available to help you get yours done.

To book our assistance, please reply to this email or connect with us on this WhatsApp link and we’ll be happy to assist.

(Powered by registered FSP: No. 51310).

WEALTH HACKER’S KIT

4 Powerful Ways to Negotiate Bills & Debt

Negotiating your bills can save you a significant amount of money each year.

And thinking about that reminded us of Chris Voss's book Never Split the Difference.

It has some powerful tips on negotiating well.

And we thought it could be quite useful to use some of those to negotiate or renegotiate bills (or maybe even debt repayments)...

1. Mirror the Other Party

When negotiating, it always helps if you can connect with the other person as a human, and get as much additional information on the nature of their prices as possible.

Chris suggests you repeat the last few words or the key points of what the other person has said. This helps build rapport and can encourage them to provide more information. 

For example: If a service provider says, "We can't lower the bill because of the fixed costs," respond with, "Fixed costs?"

This could get them to give you more information on the nature of their actual expenses.

2. Label Their Emotions

People generally don’t enter negotiations with a keen sense of empathy. But it’s a powerful tool to be able to help someone else express what they’re trying to say.

Acknowledge the emotions behind the other party's words to create empathy and understanding. This can help diffuse tension and open the door to more productive negotiation. 

For example: If a billing department representative is firm on a price, say, "It seems like you're under a lot of pressure to maintain these rates."

You should get a truer, more unrehearsed response to this because no one else would have engaged them in this way.

3. Use Tactical Empathy

There’s immense power in helping the other person see both human stories behind the negotiation. If you can show them that you 1) understand their point of view and then 2) relate it to your reality, you’re building a powerful story they will likely want to empathise with as well.

Basically, you demonstrate an understanding of the other party's perspective to build trust and cooperation, and then express your needs clearly, so that you kind of rope them in to help you meet your needs too.

For example: Say "I understand that the costs are high due to recent upgrades, but I'm hoping we can find a way to make this work within my budget."

4. Ask Calibrated Questions

As with any “job” the person you’re speaking to is performing a routine task, which means that they are mainly engaging habitually – basically “running on autopilot” as they just go through the motions, almost like reading through a script.

But you can break that by engaging them at a deeper level.

Calibrated questions are open-ended, and they encourage the other party to stop and think for a bit. Or perhaps even you with extra information. 

For example: Ask questions like, "What can we do to reduce this bill?" or "How can we adjust the services to lower the cost?"

By applying these strategies, you can build rapport, create empathy and hopefully improve your chances of negotiating better deals and saving money on your bills.

THE PEOPLE HAVE SPOKEN

We asked about your top financial goal for the next year, and that emergency fund is a biggie…

🟩🟩🟩🟩🟩🟩 💰 Building an emergency fund (36%)

🟨🟨🟨⬜️⬜️⬜️ 📊 Investing in the stock market (21%)

🟨⬜️⬜️⬜️⬜️⬜️ 🚘  Saving for a big purchase (e.g., house, car) (11%)

🟨⬜️⬜️⬜️⬜️⬜️ 💳 Paying off debt (9%)

🟨🟨🟨⬜️⬜️⬜️ 🚀 Growing a side hustle or business (21%)

⬜️⬜️⬜️⬜️⬜️⬜️ Other (tell us in the comments) (2%)

What you said…