Crypto Research
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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...
BTC RECAPTURES A KEY TECHNICAL THRESHOLD ACCELERATING ABOVE ITS WIDELY MONITORED 200-DMA. BTC surged above a key resistance level at its 200-dma toward its next resistance near 9K coinciding with a 76.4% retracement of the Q1 decline and the early March highs at 9.2K. _GIVEN DAILY RSI AND THE 4-HOUR RSI HAVE NOW MOVED INTO OVERBOUGHT TERRITORY, OUR EXPECTATION IS FOR A SHORT-TERM PAUSE PULLBACK TO DEVELOP WITH FIRST SUPPORT...
PORTFOLIO STRATEGY Bitcoin and crypto markets have had a very strong week. We expect the strength could very likely continue over the next week and a half as we approach the Bitcoin halving on May 12th. If you are a longer term investor without crypto exposure, this is still not a bad time to be dipping your toe in the water and gaining that initial allocation, but be comfortable with...
WHAT ARE THE RISKS? Following March lows, the global macro picture has improved, and crypto prices have risen by nearly 55% in tandem. Our calls for bullishness near the market bottom came with the recognition of current uncertainties at the time, but our caution in several of those areas has since diminished. But risks remain and we’re are keeping an eye on them. In terms of market structure: (1) crypto...