Crypto Research
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WEEKLY STOCK REVIEWGalaxy Digital (TSX:GLXY.V) announced it has been conditionally approved to be listed on the Toronto Stock Exchange (“TSX”)The Bitcoin Fund (TSX: QBTC-U. TO) saw a slight decline in price (1.9%) week-over-week but average daily volumes increased 90% ahead of the HalvingHive Blockchain (TSXV: HIVE.V) initiated operation of 750 new Bitmain Antminer S17+ rigs at its new Quebec facility. Daily volume declined 19% this week.Riot Blockchain (NASDAQ: RIOT) reported Q1’20 financial results with a year-over-year increase...
BULLISH NEWS BUT A VOLATILE TECHNICAL RESPONSE - Despite the past week’s quick sell-off from resistance that saw most crypto currencies break below rising 15-dma’s, most coins remain in uptrends supporting long side exposure. As always, we find it noteworthy that despite seemingly bullish expectations regarding BTC’s halving, Paul Tudor Jones’ endorsement and news JP Morgan is increasingly engaging with crypto, BTC and ETH ping ponged between key technical resistance...
Increasing Outlook: Sentiment & FY 2020 Forecast Support a “Non-Speculative” Bitcoin Price of $16,500
PORTFOLIO STRATEGY The conditions appear in place for a continued rally in crypto asset prices over the course of the year. Last week brought two events that 1) incrementally de-risked the downside and 2) improved the bull market case.We are gaining confidence in the sustainability of this rally with each day that passes after the halvening that we don’t see signs of trouble in the mining sector.Investor sentiment data has...
CRYPTO FEAR AND GREED INDEX The Crypto F&G Index is basically on par to its posting last week with the sentiment index slipping 1 point to 39 following the Halving. TRUMP TO ANNOUNCE DIGITAL DOLLAR I want to make a prediction that President Trump will instruct the Treasury Department to issue a digital dollar in the coming months. We all know the President likes his headlines and he can use this...
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...