Crypto Research
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COUNTDOWN TO THE HALVING Today is the big day! Over the weekend Bitcoin’s blocktimes ran below the 10 minute average and therefore block 630,000 is expected to be mined much earlier than expected. Bitcoin’s third halving is currently expected to occur around 3:32 EST this afternoon. THE HEADLINES MARKET DATA EXCHANGE, CUSTODY AND PRODUCT NEWS THOUGHTS ON THE ECOSYSTEM
THE TEN RULES OF BITCOIN INVESTING: RULE NO. 2 RULE #2: CONSENSUS MOSTLY RIGHT, THUS BITCOIN MISERY INDEX The Bitcoin Misery Index (BMI) is a diffusion index, a proprietary tool that we invented for our clients interested in cryptocurrency investing. In essence, the BMI is a proxy for how investors feel about bitcoin’s “price action.” It measures the expected sentiment of a holder of bitcoin (where a reading of 50=Neutral,...
Countdown to the Halving Interest in bitcoin continues to grow ahead of the halving with the number of new and active bitcoin addresses increasing to levels not seen since the 2017 bull market. The amount of blocks mined over the past 24 hours is 149, an increase over the average 10 minute schedule of 144 per day. At this rate, timing of the schedule halving has moved ahead a few hours Monday...
PORTFOLIO STRATEGY In our prior note, we indicated that markets could likely see continued strength leading up into the Bitcoin halvening and that’s what we got this week. While my view has not changed since last week, this week I will offer investors 15 observation ahead of the halving. The picture is not conclusive, but it paints an on balance positive story. Bitcoin still has room to go before reaching...
A PAUSE FOR MOST ALTS BUT BTC REMAINS RESILIENT, CHALLENGING 9.5K HEADING INTO ITS HALVING - Most cryptocurrencies paused or pulled back over the past week after rallying into resistance bands with short-term momentum peaking at overbought levels. BTC also paused but has been impressively more resilient notably over the past two days, challenging resistance between 9-9.5K as the widely anticipated May 12 halving draws near. SO WHAT TO DO?...
COUNT DOWN TO HALVING Although miners activity supporting bitcoin is remaining strong, bitcoin’s hashrate has declined slightly over the past day. This could be due to several factors including miners taking down rigs to install the newer units which are finally being delivered after COVID-19 delays. TECHNICAL ROUNDUP INSIGHT Technical Roundup suggests that bitcoin has broken out of its monthly range but is highlighting resistance at $9240. Acceptance of the resistance would suggest a...
Driven by the increase of miners driving bitcoin’s hashrate, the date of the upcoming halving has moved from early morning on Tuesday May 12th to just before midnight on Monday May 11th. _INVESTOR SENTIMENT IMPROVING_ As investor sentiment increases ahead of the halving, the Crypto Fear and Greed Index jumped 13 points this week reaching its highest levels since the March market sell off. _BTC TRANSACTION FEES INCREASING_ As should...
BTC HASHRATE NEARING ALL-TIME-HIGHS Bitcoin’s (BTC) hashrate is near all-time-highs ahead of the halving. (I warned you, you will hear a lot about this event this week). As of this morning, BTC’s hashrate is up 8.3% to 132.55 Ehash/s (this equates to 132 quintillion or “132,000,000,000,000,000,000” attempts to solve for a block per second. The increase makes sense as bitcoin mining rigs – even of the older generations – are believed to be profitable above...
THE TEN RULES OF BITCOIN INVESTING Cryptocurrencies and Bitcoin (BTC) have been around for over a decade, a time period in which they are solidly up. However, as an asset class the believers in it are few, to go by the minuscule amount of money invested, 0.1% of the total, vs. other financial assets. Still, as I have noted before, Bitcoin has shown and continues to show great resilience, such...
THE HALVING IS COMING May 2020 will be known as the month of the third bitcoin (BTC) halving so get used to hearing about it. If you don’t know, the halving is when a block reward is reduced by 50% – in this case BTC’s reward will be cut from 12.5 BTC to 6.25 BTC. The halving happens every four years and is currently expected to occur on May 12th...
