News
2 December 2022
This Week in Crypto: US$1Bn in Missing Funds? “It Is What It Is”
Bitcoin and other cryptocurrencies posted slight gains throughout the week despite news of BlockFi‘s Chapter 11 bankruptcy, with the world’s largest cryptocurrency surpassing the US$17,000 level before paring gains. At the time of writing, Bitcoin (BTC) is trading at US$16,904.57 (-1.41%) while Ethereum (ETH) is trading at US$1,272.34 (-1.21%). Major altcoins such as BNB, Avalanche […]
Crypto
1 December 2022
Blocksmith Says: Equities and Crypto Reaching Support
In yesterday’s US Session, Fed Chair Powell indicated that interest rate hike tempo could slacken (i.e. not be overtightened) but the outlook for rate cuts was not on the table yet. This predictably saw equities push higher as shorts were covered frantically and the Dollar Index falter. The DXY chart below puts this into context. An 18-month cycle […]
Industry
1 December 2022
Temasek Suffers “Reputational Damage” But What Next For Singapore’s Crypto Ambitions?
It’s imperative that the objectives and mandates across all three entities (GIC, Temasek, and MAS) are aligned before a clearer path can be charted for Singapore’s crypto industry and its stakeholders including retail investors.
Crypto
30 November 2022
Blocksmith Says: ETH Will Underperform Next Year
I thought today we could consider Ethereum vs Bitcoin on an intermediate term price horizon. XETXBT basis weekly data here is highly suggestive of a meaningful downswing (in other words Ethereum underperforms across next year). Let’s unpack the cycles first – 54 month, 18 month and 40 week. There are two 40 week cycles to one […]
Ethereum
29 November 2022
Blocksmith Says: ETH Cycles Falling Hard
Ethereum daily. I have run a basic cycles analysis and identified a clear and regular 40 day cycle in the data. The 40 day cycle breaks down into two 20 day cycles and is half of the 8-day cycles. That’s how cycles work, there is family of harmonically related cycles, they interact with on another […]
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