Crypto Research
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CRYPTOCURRENCIES HAVE CONSOLIDATED THROUGH APRIL SIMILAR TO OTHER RISK ASSETS -Major cryptocurrencies stalled over the past two weeks following rebounds into resistance levels near declining 50-dma’s. This behavior is similar to what developed in many risk assets, notably equities where cyclical indices, such as the Russell 2000, have stalled in sideways trading ranges heading into last week’s option expiration. HOWEVER, SIGNS OF IMPROVEMENT FOR BTC TAKING HOLD - BTC, for...
PORTFOLIO STRATEGY These are strange times. Very, very strange times indeed. Oil markets have gone mad. At least that’s what I’d think if I’d only looked at the price, which plunged as low as -$37.63. Although, I’m strangely unsurprised given the macro backdrop, I must admit the situation interesting. However, I’m not here to talk about _BLACK GOLD_, I’m here to talk about DIGITAL GOLD, and by that, I mean...
Bitcoin (BTC) is building support at $7,000, looking to break up and test resistance at $7,730. At the current level, Technical Roundup sees no real concern unless BTC falls below $6,380. THE HEADLINES [Members Area Crypto] NETHERLANDS WANTS TO HELP DRIVE EUROPEAN CBDC www. dnb. nl The Central Bank of the Netherlands has released a report stating it is “prepared to play a leading role” in the development of a central band digital...
The Fear & Greed Index for Bitcoin and other large cryptocurrencies rose 2 points since last week signifying improving sentiment, but investors are still remain overly worried. THE STRUGGLING (CRYPTO) MARKETPLACE I have recently received a number of calls from friends and crypto colleagues who have been laid off or decided to leave their jobs. For the most parts the calls are similar. These are people who took a leap of faith...
How should investors frame crypto’s drivers and was the recent move a justified fundamental deterioration or an opportunity? 1. EMERGING MARKET PLAY Crypto market growth resembles that of an emerging market economy that’s recently opened to the outside world seeing new capital inflows and growth. Remember, that like all emerging markets, it is influenced by macro external forces and shocks, and it is still early innings yet and idiosyncratic boom/bust...
On Friday, the Chamber of Digital Commerce and the Reinventing Bretton Woods Committee hosted a discussion headed by James Bullard, the President of the Federal Reserve Bank of St. Louis, Olli Rehn, the Governor or the Bank of Finland, and Benoît Coeuré, Head of Innovation Hub, Bank for International Settlements on “The World Economy Transformed: Reflections on Policy Responses & The Future Post Pandemic Monetary Architecture.” All three agreed with Coeuré’s statement that...
THE HEADLINES [Members Area Crypto] NEW COVID-19 ASSISTANCE PACKAGE BRINGS BACK IDEA OF DIGITAL DOLLAR www. tlaib. house. gov Representative Rashida Tlaib (D-MI) has introduced a new bill (the “Automatic Boost to Communities Act”) looking to provide assistance payments to Americans of $2,000 per month. Tlaib proposes these payments be made through the introduction of Federal Reserve created “FedAccounts” and Treasury-administered digital dollar wallets. If approved, the bill states that...
Quick notes on above chart:I added The Bitcoin Fund (TSX: QBTC-U. TO) and Riot Blockchain (NASDAQ: RIOT) to my weekly update on digital currency and blockchain stocksGrayscale’s Diversified Large Cap Fund. Grayscale changed its ticker from GDLCF to GDLC, as such its key metrics like the 52-week price range have been reset. THE HEADLINES _WHY ISN’T CHINA’S DCEP BEING COVERED IN TRADITIONAL MEDIA?_ Today I am starting the headlines section of BitDigest with some thoughts...
WHAT’S CHANGING TECHNICALLY FOR CRYPTO CURRENCIES? After rebounding from deeply oversold levels in March, most cryptocurrencies are stalling under technical resistance coinciding with declining 50- and 200-dma’s. Given the long-term uptrend for BTC remains intact, our expectation is for the current pullback to be relatively shallow over the coming 1-2 weeks. BTC STALLING UNDER DECLINING 50- AND 200-DMA’S BTC is stalling short-term under heavy technical resistance between 7-8K which coincides...
TechnicalRoundup’s weekly view on bitcoin/dollar is bearish based on bitcoin’s recent difficulty in closing above $7,000. “Nevertheless, as time has progressed, a counter-argument is starting to emerge. Bitcoin/Dollar has been testing the $7000 area for several consecutive weeks now, and no strong rejection has materialized. This could be interpreted as evidence of weakening resistance following recurring tests.” THE HEADLINES [Members Area Crypto] CHINA APPEARS TO HAVE BEGUN TESTING CBDC www. decrypt. co...
In the current market environment, with the sharp price volatility seen in Bitcoin (BTC) and cryptocurrencies generally in the past 12 months, it’s fair for investors to ask, “What’s going on?” While follow on contagion and spillover from the global economic chaos is the easiest answer, I think that the situation deserves a closer look, as there might be market nuances worth examining in detail. I see a number of...
Readers Note: The crypto weekly newsletter was not published last Friday due to the Easter holiday and has been moved to today instead. PORTFOLIO STRATEGY Crypto markets have seen price swings over past weeks, but despite the choppiness, markets have largely ended where we left them in prior weeks with Bitcoin sitting around $6,900 today. CRYPTO ALLOCATION: For this reason, our tactical crypto exposure recommendations haven’t changed since our last...
