Crypto Research
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For a full copy of this report in PDF format please click here MARKET ANALYSIS For the second time in two weeks, Bitcoin climbed above $12,000. Overall, it finished the week ended 8/11 up 5.6% at $11,878. Notably, it traded above $11,000 for the entire week for this first time since August 2019. Source: FSInsight, Bloomberg Source: FSInsight, Bloomberg Bitcoin led all other major crypto assets by 3% - 9%...
WILL BLOCKCHAIN BECOME THE NEXT TECH BATTLE GROUND WITH CHINA Like many others, I spent the weekend reading about President Trump’s decision to ban Americans from carrying out transactions with Chinese owned apps TikTok and Wechat. This morning, I discovered that China has released an international website for its national blockchain, the Blockchain Service Network (BSN), inviting developers to create new applications to run on this seemingly-centralized network. Given that China appears to be...
Highlights from the North American listed crypto, blockchain and mining stocks:The Grayscale Digital Large Cap Fund (OTCQX: GDLC) was the top performer among the North American blockchain and crypto stocks reporting a 142% price increase. GDLC’s premium to NAV jumped from 27.8% to 189.9%.For the second week in a row, Marathon Patent Group (NASDAQ: MARA) posted a a considerable return with a new all-time-high of $4.79. MARA is up 130% over the past seven days...
MARKET ANALYSIS After last week’s spike, BTC continued its rise nearing $12,000 before a $1 billion liquidation event caused the price to crash $1,500 and then stabilize above $11,000. BTC finished the 7-day period ending August 3rd up 1.7%. As the dollar suffered this week (measured by the DXY), Bitcoin and gold continued their outperformance compared to all other asset classes. Ripple and Ethereum both surged this week up 37%...
CRYPTO FEAR AND GREED INDEX The Fear & Greed Index for bitcoin and other large cryptocurrencies fell four points over the past seven days to 72. The index hit a 12-month high reaching 80 on Sunday. The last time the index printed above the seventies was in July 2019 when bitcoin (BTC) was trading at current levels. KEEPING YOUR PRIVATE KEYS SAFE It is always good to get a reminder on best...
US PRINTING MACHINE According to leading crypto VC Pantera, the US government printed more money in June than during the first two centuries of its history (1776 – 1979). WEEKEND READINGFidelity Digital Assets released its long awaited analysis on bitcoin as a store of value exploring the inherent characteristics that position bitcoin to fulfill this role in the future, consider whether it is being used in this way today, and discuss factors that may drive...
Highlights from the North American listed crypto, blockchain and mining stocks:Marathon Patent Group (NASDAQ: MARA) was the best performer out of the North American crypto and blockchain stocks as its price rose 73% and average volume grew 62%. MARA also announced it purchased 700 ASIC miners from MicroBT with expected delivery in mid-April, and reported that 600 of the 1,660 miners previously ordered from Bitmain would arrive around the same time.Both the The Bitcon Fund (TSX: QBTC-U....
MARKET ANALYSIS At the beginning of the week, BTC awoke from its slumber and ripped to a new 2020 high of $11,420 on Monday. BTC finished the 7-day period ending 7/27 at $10,990; up 20% week over week. Even though Gold has been enjoying a significant run and breached new all-time highs, Bitcoin is still solidly outperforming Gold and all other major asset classes YTD. The crypto majors all...
COULD PAYING A CRYPTO RANSOM BE ILLEGAL? The Twitterverse is abuzz following news that US smartwatch maker Garmin International was hacked and subsequently received the decryption key to recover its computer files from the ransomware attack. The issue in question is that to re-access its file, a ransom was likely paid – $10 million in cryptocurrencies – and as it is reported that the hackers were based in Russia, the payment could be construed as...
