Crypto Research

For a full copy of this report in PDF format please click HERE MARKET ANALYSIS Early in the week, Bitcoin dipped testing $11,000 as support before rebounding and ending the week only slightly down (-0.8%) from the week prior at $11,678. August is only the second month in Bitcoin’s history that it traded above $10,000 for the entire month. Bitcoin continues its 2020 outperformance compared to all major asset classes....

CRYPTO FEAR AND GREED INDEX The Fear & Greed Index for bitcoin and other large cryptocurrencies held steady this week at 75 as investor sentiment remained unchanged as pricing for the leading digital currencies was basically flat. Expect sentiment to improve as cryptocurrencies begin testing new highs. THE HEADLINES [Members Area Crypto] BANK OF KOREA TO SELECT DOMESTIC TECHNOLOGY PROVIDER FOR CBDC PILOT www. koreatimes. co. kr The Bank of...

THE HEADLINES [Members Area Crypto] CHINESE BANK LAUNCHES CENTRAL BANK DIGITAL CURRENCY WALLET BUT SUDDENLY DISABLES IT www. news. bitcoin. com One of China’s largest state-owned banks, China Construction Bank, launched a digital renminbi wallet over the weekend, but subsequently took it down publishing a message that the “the service has not officially launched externally, so stay tuned.” [Members Area Crypto] GIG WORKERS MUST PAY TAX ON CRYPTO PAYMENTS www....

WEEKEND READING (AND LISTENING)Ethereum founder Vitalike Buterin identifies his biggest concerns for crypto markets in a new release of Peter McCormack’s What Bitcoin Did podcast.The Winklevoss brothers have shared  their case for bitcoin reaching $500,000. THE HEADLINES [Members Area Crypto] US LOOKING TO SEIZE CRYPTO FROM NORTH KOREAN HACKERS www. reuters. com The US Department of Treasury is trying to seize funds traced to 280 digital currency accounts used by North Korean hackers...

Highlights from the North American listed crypto, blockchain and mining stocks:Newly traded crypto miner Taal Distributed Information Technologies (OTCQX: TAALF) is this week’s top performer among posting a 7-day return of 15%.The premium to NAV for Grayscale’s Ethereum Trust (OTCQX: ETHE) appears to have settled around 80% following a 7-week decline and drop of approximately 90%.Grayscale’s Bitcoin Trust (OTCQX: GBTC) is holding its premium in the low 20’s.Marathon Patent Group (Nasdaq: MARA) reported it has signed a letter...

THE HEADLINES [Members Area Crypto] CHINA’S COMMUNIST PARTY WANTS TO DIGITIZE SOCIAL ASSISTANCE SYSTEM www. cointelegraph. com The Central Committee of the Communist Party of China has issued a policy paper that provides regional departments with guidance on reforming and improving China’s social assistance system by expanding connectivity through a blockchain-based national data sharing and exchange network. [Members Area Crypto] BRAZILIAN LAWMAKER PROPOSES CRYPTO REGULATIONS www. coindesk. com A Brazilian...

For a full copy of this report in PDF format please click HERE MARKET ANALYSIS After breaking above $12,000 resistance, Bitcoin quickly fell below that level and is consolidating in the mid-$11,000 range. Bitcoin ended the week down 4% at $11,771. CME’s 6-month Bitcoin futures contracts expire at the end of the month, which may lead to greater volatility this upcoming week. Despite the pullback this week, Bitcoin remains firmly...

CRYPTO FEAR AND GREED INDEX The Fear & Greed Index for bitcoin and other large cryptocurrencies has declined 7 points this week to 75 driven by investor concerns over the inability for bitcoin and ether to break out of their current trading bands. THE HEADLINES [Members Area Crypto] BIS SAYS RATIONALE FOR CBDC DIFFERS IN EACH COUNTRY www. bis. org The Bank for International Settlements has issued a working paper explaining...

CRYPTO ART FOR A GOOD CAUSE Artists Josie Bellini has released a new work commemorating the life and work of digital currency pioneer Hal Finney. The original art work will be auctioned on Gemini’s Nifty Gateway with proceeds benefiting the ALS Association.  Finney succumbed to ALS and died in 2014. A limited edition of 21 prints are available directly from the artist and separately 21 NFT’s will be sold through Open Sea.  THE HEADLINES [Members Area Crypto] IRS TARGETING CRYPTO INVESTMENT...

For a full copy of this report in PDF format, CLICK THIS LINK. BITWISE ASSET MANAGEMENT, INC. (“Bitwise” or “Company”) is a San Francisco-based specialist asset manager founded in 2017. The Company pioneered the first and largest cryptocurrency index fund and is a rising-star provider of liquid, low-cost crypto funds. Bitwise is moving to have its flagship Bitwise 10 Crypto Index Fund and Bitwise Bitcoin Fund publicly tradable. Comparable products...

THE RIGHT APPROACH TO CRYPTO INVESTING I have been thinking about how to characterize crypto investing from a fundamental approach. To most people, I assume buying digital currencies is a growth story based on the expected appreciation of the different currencies and tokens, but to a few investors, the opportunity to use a value investment strategy is also achievable. Long gone are the days of $3,500 pricing discrepancies across global exchanges for...