Crypto Research
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For a full copy of this report in PDF format please click HERE. MARKET ANALYSIS This week, Bitcoin briefly traded above $11,000 before losing ground and ending the week down 1.9% at $10,455. Bitcoin has been exhibiting greater short-term correlation with the broader markets, which could be the primary reason for Bitcoin’s weakness in recent weeks. At time of writing, Bitcoin is currently trading at ~$10,500. Notably, Bitcoin’s decline corresponds with...
CRYPTO FEAR AND GREED INDEX The Fear & Greed Index for bitcoin and other large cryptocurrencies has slipped again dropping 8 points to 39. While many are calling for a new period of growth as institutional firms continue to turn to digital assets, bitcoin’s resurging volatility is bringing a cloud of fear back over retail crypto traders. THE HEADLINES MARKET DATA EXCHANGE, CUSTODY AND PRODUCT NEWS THOUGHTS ON THE ECOSYSTEM
ARGENTINA ADDS USD WITHHOLDING TAX Expect local crypto activity in Argentina to increase. The government of the South American nation, with a reported year to date low 40.6% inflation rate in July, has decided to impose a 35% withholding tax on purchases of US dollars and overseas credit card payments. Pharmaceutical and healthcare services, books, online research and education services, and spending on fire protection equipment has been omitted from the tax. THE HEADLINES...
Highlights from the North American listed crypto, blockchain and mining stocks:Chinese mining stock Ebang International (NASDAQ: EBON) is the top performer of the week generating a 8% increase in its stock price. EBON is the only company to outperform bitcoin (7.2% return) this week.Hive Blockchain (TSX: HIVE) reported year end results for fiscal 2020 generating income from digital currency mining – mining bitcoin (BTC), ether (ETH) and Ethereum classic (ETC) – of $29.2 million with adjusted...
For a full copy of this report in PDF format please click HERE MARKET ANALYSIS Following last week’s downside volatility, Bitcoin stabilized and regained some ground finishing the week ending 9/14 up 2.8% at $10,663. Bitcoin currently sits around ~$10,850 and seems poised to retest $11,000. Bitcoin is still down double digits this month (-10%) alongside oil and commodities. Historically, September has been Bitcoin’s worst performing month. Amongst all the...
CRYPTO FEAR AND GREED INDEX Following last week’s major decline, the Fear & Greed Index for bitcoin and other large cryptocurrencies has shown an overnight pop with the price bitcoin returning back above $10,600, gaining 8 points on the day and 6 points since last week’s update. Investors are strongly back with a more ‘neutral view’ of the asset class. HOW POMP CONVINCED CRAMER TO BUY BITCOIN I have been listening...
GROWING FOCUS ON ETHEREUM Digital exchanges are looking to grow by supporting Ethereum based projects. In recent days both Binance and Kraken have made statements showing their desire to help this ecosystem grow. Binance CEO Changpeng Zhao tweeted he would like to see more DeFi projects moving over to Binance Smart Chain and Kraken has posted a new position to hire an “external advocate” bridging mainstream investors and the Ethereum community. CHINA’S PUBLIC BLOCKCHAIN COMPANIES BLOCKCHAIN NOT LIVING UP TO...
Highlights from the North American listed crypto, blockchain and mining stocks:Chinese mining equipment supplier Ebang International (NASDAQ: EBON) hit a new 52-week high this week ($8.60) propelling it to the top performing asset spot, up 22.3% this week.Canaan (NASDAQ: CAN), a crypto rig manufacturer, announced a $10 million 12-month share repurchase programWhile the Premium to Nav of the Grayscale Bitcoin Trust was basically flat, all of the other Grayscale offerings showed significant increases led by...