News
2 December 2022
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 […]
Crypto
25 November 2022
Blocksmith Says: ETH to Bottom Very Soon
I have dropped down to an hourly chart of ETH. The price path is starting to look impulsive to the downside, despite US Dollar weakness – I still expect a bottom very soon which implies macro regime change and crypto bearish. ETH was strongly rejected at key resistance yesterday and is starting to cascade lower. There has […]
News
25 November 2022
This Week in Crypto: All Eyes on Genesis
Bitcoin and other cryptocurrencies continued to trade sideways throughout the week, with the world’s largest cryptocurrency stubbornly stuck around the US$16,000 level for now. At the time of writing, Bitcoin (BTC) is trading at US$16,504.48 (-1.41%) while Ethereum (ETH) is trading at US$1,186.92 (-1.21%). Major altcoins such Solana (SOL), Avalanche (AVAX), and Polkadot (DOT) have […]
Ethereum
24 November 2022
Blocksmith Says: ETH to Drop Again
The macro environment has become volatile and traditional correlations have snapped near term. The key call once again is that Dollar Index (DXY) is in a bottom a zone and we were expecting a swift take off once the local base was in place, and yet there has been a sharp pull back. It’s not […]
Ethereum
23 November 2022
Blocksmith Says: Swift Zig-Zag Decline for ETH in December
Ethereum – overall, macro risk is wandering through a low magnitude cycle bounce (20 day cycle) within a broader downtrend. In these circumstances, the burden of longer falling cycles tends to squash countertrend rallies quickly and make them peak earlier and trough later. ETH has just passed through a 40 and a 20 day cycle trough […]
News
21 November 2022
Weekend Roundup: No Santa Rally for Crypto
While some institutional investors are slowly getting back into the game, a recovery in the crypto and broader financial markets is unlikely for now. Also, is the Bahamas government behind FTX hack? Ronaldo finally scores, and Sino Global’s in a “mid-seven figure” hole.
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