October didn’t give us the strong run that many were hoping for, but that’s just part of the cycle. What matters most is what’s happening underneath the surface.
While prices have been quiet, the world hasn’t. Governments are exploring Bitcoin reserves, big tech is spending billions on artificial intelligence, and global trade is shifting in ways we haven’t seen in decades. The landscape is changing quietly, but powerfully.
In this month’s wrap, we’ll look at what really shaped the markets, from the U.S.–China trade deal to Europe’s bold Bitcoin move to the global AI race and gold’s turning point.
Market Outlook: A Slow Month, Not a Bad One
October was a quiet month for crypto. Bitcoin slipped about 3.7%, its weakest October since 2018. Some people call that a bad sign, but every market moves in waves, and one slow month doesn’t mean the tide has turned.
When prices fall, people panic. When prices rise, they get greedy. The smart investors do the opposite. They understand that fear is temporary, and opportunity hides inside it.
Currently, Bitcoin appears quiet on the surface, having even dipped below $100,000 before bouncing back; however, confidence is building behind the scenes. Governments are buying, institutions are learning, and innovation continues to move forward. Markets don’t stay down forever, and when they turn, they move faster than most people will expect.
US vs China: A Step Toward Balance
The United States and China have finally reached a new trade deal. The agreement aims to steady the relationship between the world’s two largest economies and bring some relief to global markets.
China has agreed to reopen its doors to U.S. farm products, roll back limits on rare earth exports, and restart computer chip shipments that are vital for technology production. In return, the U.S. will lower specific tariffs and delay new restrictions until 2026.
It’s a positive step toward rebuilding trust and balancing global supply chains, although challenges remain. The U.S. still wants to reduce its reliance on foreign minerals, while China continues to defend its lead in computer chip manufacturing.
For now, this truce gives both sides breathing room and gives markets a reason to relax.
From Gold to Bitcoin: The New Reserve Race
What started as an experiment has now become serious policy. The French government has proposed creating a national Bitcoin reserve and aims to buy 420,000 Bitcoins over the next few years. That’s about 2% of the entire Bitcoin supply, and it shows just how quickly governments are waking up to digital assets.
Across Europe, the momentum is growing. The Czech National Bank is looking at adding Bitcoin to its reserves, Norway’s sovereign wealth fund already owns some, and the U.K. government holds over 60,000 BTC. Even smaller countries like Bhutan and Ethiopia are earning Bitcoin through mining, turning technology into national income.
In the United States, Senator Cynthia Lummis has suggested swapping some of America’s gold for Bitcoin (an idea that could mark a major shift in how nations store value). If that happens, other countries will likely follow suit.
Economists at Deutsche Bank believe central banks could start treating Bitcoin much like gold. Confidence in the U.S. dollar keeps slipping. The USD share of global reserves has dropped from 60% to 41% since 2000, while both gold and Bitcoin are seeing record inflows. U.S. Bitcoin ETFs now hold over 6% of the total Bitcoin supply, worth about US$165 billion.
The big picture? Bitcoin and gold are no longer opposites. Physical gold and digital gold are partners and countries can use both to protect against inflation, currency weakness, and uncertainty. The world’s financial map is being redrawn, and digital assets are taking a front seat.
The AI Race: Billion-Dollar Bets on the Future
The world’s biggest tech companies are spending massive amounts of money to keep up with artificial intelligence. Microsoft just signed a $9.7 billion deal with a company called IREN to use powerful Nvidia computer chips. That means Microsoft can grow its AI capacity without building new data centres, saving time, space, and billions in construction costs.
Not to be left behind, OpenAI (the company behind ChatGPT), made a $38 billion agreement with Amazon to use Amazon’s cloud for training its AI systems. That’s interesting because OpenAI initially relied on Microsoft’s cloud. This new deal shows how fast the industry is expanding and how no one wants to depend on a single partner.
Some experts call this an “AI arms race.” U.S. companies are expected to spend more than $500 billion on AI infrastructure by 2027. Whether that’s smart planning or a sign of a bubble is up for debate, but one thing is certain: computing power has become the new oil, and everyone’s trying to own the wells.
Gold Prediction: When the Shine Starts to Fade
Gold, silver, and Bitcoin all reached record highs this year (just as we predicted back in 2019). At the time of our initial buy suggestion, gold was around $1,500, silver was $15, and Bitcoin was $5,000. Now in 2025, gold has climbed to about $4,200, silver hit $52, and Bitcoin broke past $110,000.
We don’t chase hype; instead, we strictly follow history, data, and cycles. Right now, those signals suggest gold may be running out of steam. We recommended buying gold when it was cheap in 2019. At today’s prices, we’re not adding more. Markets move in waves, and those buying at the top often end up crashing into the sandbank.
The lesson? Don’t confuse excitement with opportunity. Smart investors buy value, not headlines.
Fund Updates
POLLY AI
Our little AI-powered girl continues to mostly exceed the stock market when things are sunny, but she has some 10-30% down days when markets crash. Despite being the lower-risk alternative, POLLY AI still carries some market risk, and investors should be prepared to hold for 3-5 years to achieve the best results.
POLLY AI Oct 31: price was USD 108.2810324, which is 19.5% higher than one year ago.
BOSTONCOIN
Our flagship Bostoncoin fund has been making all the right moves over the last few years, through up and down markets, due to his diversification. Yes, there have been some drops but over time, the ride has been heading up. We present the ten-year chart for full transparency (2022 was the year of FTX, Celsius, and Terra Luna), but the last four years appear much more favourable. We suggest that BOS investors hang in there for 5-7 years and aim for longer-term growth. Oct 31 BOS price USD 81.8538852676, which is 62% higher than last year.
DARTcoin
Our boisterous young man with the higher-risk angle has been making some wild jumps up and down, but thankfully, mostly up. As we drift slowly into altcoin season, there may be some more radical swings, which is why we suggest DART with a 7-10 year timeframe. DART price Oct 31 was USD 160.2205620222, which is 22% lower than last year but 240% higher than two years earlier.
RAFAH
Our Rafah Halal crypto fund continues to exceed the SP500 stock market benchmark, even despite recent dips. It goes to show that ethical funds can come out on top, even if it is just because they avoid leverage, loans and gambling.
OYSHER
Our Oysher Kosher crypto fund has underperformed over the last twelve months. Due to its Halachic ethical mandate, we cannot significantly alter its strategies. It is certainly one to watch and not abandon as markets will eventually move away from the fear, uncertainty and doubt that has crept in during current situations in the Middle East and USA. Better times ahead!
OYSHER 101.1631449 USD (Oct 31 2025 prices)
ASHIRVAD
Our Ashirvad Sanata Dharma fund has also underperformed in the last year. Again, there is little room to shift strategies due to its ethical mandate. There are times when the economy is uncertain, and that’s often when people spend more money on vices such as gambling, alcohol and tobacco. During recovery periods, investors are more likely to steer towards sustainable futures, emerging technology and safe energy. We continue to buy good-quality items while they are cheap and hold on for better days.
Founder’s Corner: Opportunity in Uncertainty
Markets are uneasy again. Headlines talk of fear, volatility, and the bear market, but every period of uncertainty also opens the door to opportunity. We’ve seen it countless times before. When confidence dips, patience pays.
If 2025 taught us anything, it’s that cycles don’t last forever. Governments argue, economies wobble, and sentiment fades, but innovation never stops. Behind the noise, crypto continues to evolve quietly, becoming the foundation of a new financial system.
As we move into 2026, I see a shift from speculation to strategy. Countries are building Bitcoin reserves, institutions are treating digital assets like core holdings, and individuals are learning that wealth isn’t built in bull runs, it’s built in preparation for them.
Government shutdowns in the USA have left millions of people without a paycheck for 36+ days. Millions more have lost food stamps due to government inaction. It seems like an upside-down world where the world’s wealthiest nation has millions of citizens unpaid and in food insecurity, whilst countries like Bhutan are stacking Bitcoin.
If you have cash in the bank and food in the fridge, count yourself lucky and stay alert. The next wave of opportunity is already forming beneath the surface.
When things bounce back, as they always do, the move upwards can be very high and very fast. Be prepared. If you can, invest extra while things are down. If you cannot, then hold on, and we will see you on the other side of the dip.
— Jeremy Britton, Founder & CFO
Live Events
We recently held another BostonTrading networking event in Brisbane, bringing together investors, builders, and curious newcomers who all share one goal; learning, connecting, and growing together. If you missed it, don’t worry. There’ll be more. Click here to book in for the final event for 2025, in the first week of December, before the silly season starts 🙂
If this update helped you make sense of the markets, share it with someone who’d enjoy it too. If you’d like to learn more about how our fund works, book a quick Discovery Call – we’re always happy to chat.
