Friday , October 30 2020
Home / Tag Archives: Crypto – Currencies

Tag Archives: Crypto – Currencies

Bitcoin Moonshot – Precious Metals Supply and Demand

    Bitcoin Gets Juiced The prices of gold and silver were up $19 and $0.48 respectively last week. But that’s not where the massive inpouring of groceries went. When Friday began (Arizona time), Bitcoin’s purchasing power was under 75 grocery units (assuming a grocery unit is $100). By evening, speculators added 25 more grocery units to the same unit of bitcoin. Bitcoin, daily – shortly after breaking below an obvious lateral support...

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A Gain of 1,080% Annualized – One of the Strongest Seasonal Rallies is Starting Right Now

  Bitcoin – An Exceptional Asset When I first heard about Bitcoin (BTC) in May 2011, it was trading at 8 US dollars. Today, more than eight years later, BTC trades at around 8,000 dollars. A thousandfold increase! An investment of 1,000 dollars at the time would have resulted in a gain of more than a million  –  a dream result. Bitcoin went from 10,000 BTC for a pizza to around 100 BTC for a Lambo in what appeared to be an unseemly...

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Bitcoin – From Greed to Fear

  A Noteworthy Sentiment Change Bitcoin and other cryptocurrencies have declined quite sharply in recent days. Here is an overnight snapshot of the daily chart: Bitcoin corrects again… It is difficult to gauge sentiment on BTC objectively, but there is a service that tries to do just that. According to its greed & fear barometer, the recent decline seems to have triggered quite a bit of apprehension: The BTC sentiment measure of...

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Wall of Worry M.I.A. –  Precious Metals Supply and Demand

    Too Much Excitement? The prices of the metals fell last week, with that of gold -$9 and silver -$0.32. Of course, it was a week of stock market exuberance. Why would anyone want to own money, or seek safety when the Fed can seemingly push interest down / assets up indefinitely? As the old TV ad for Lotto proclaimed “you gotta be in it, to win it!” “Stablecoin” Tether is used as a dollar stand-in on cryptocurrency exchanges that...

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Bitcoin: What is the Best Day of the Week to Buy?

  Shifting Patterns In the last issue of Seasonal Insights I have discussed Bitcoin’s seasonal pattern in the course of a year. In this issue I will show an analysis of the returns of bitcoin on individual days of the week. Bitcoin, daily – since bottoming in early December, BTC has advanced quite a bit. It remains an excellent trading sardine. [PT] It seems to me that Bitcoin is particularly interesting for this type of study: it...

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What Were They Thinking?

  Learning From Other People’s Mistakes is Cheaper One benefit of hindsight is that it imparts a cheap superiority over the past blunders of others.  We certainly make more mistakes than we’d care to admit.  Why not look down our nose and acquire some lessons learned from the mistakes of others? Bitcoin, weekly. The late 2017 peak is completely obvious in hindsight… [PT] A simple record of the collective delusions from the past can...

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Bitcoin Jumps as Ordered –  Precious Metals Supply and Demand

  Digital Asset Rush The only part of our April Fools article yesterday that was not said with tongue firmly planted in cheek was the gold and silver price action (though framed it in the common dollar-centric parlance, being April Fools): “Gold went down $21, while silver dropped about 1/3 of a dollar. Not quite a heavy metal brick in free fall, but close enough.” Bitcoin, hourly – a sudden yen for BTC breaks out among the punters....

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Bitcoin Bottom Building

  Defending 3,800 and a Swing Trade Play For one week, bulls have been defending the 3,800 USD value area with success. But on March 4th they had to give way to the constant pressure. Prices fell quickly to the 3,700 USD level. These extended times of range bound trading are typical for Bitcoin Bottom Building in sideways ranges. This 60 minute chart of Bitcoin shows (represented by the yellow candlestick wicks) how the bulls defended...

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Seasonality in Cryptocurrencies – An Interesting Pattern in Bitcoin

  Looking for Opportunities The last time we discussed Bitcoin was in May 2017 when we pointed out that Bitcoin too suffers from seasonal weakness in the summer. We have shown that a seasonal pattern in Bitcoin can be easily identified. More than a year has passed since then and readers may wonder why we have not addressed the topic again. There is a simple reason for this: the lack of extensive historical data for cryptocurrencies in...

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Crying Wolf – Precious Metals Supply and Demand

    Quantity Theory Revisited The price of gold fell another ten bucks and that of silver another 28 cents last week. Perspective: if you are waiting for the right moment to buy, the market is offering you a better deal than it did last week (literally, the market price of gold is at a 7.2% discount to the fundamental price vs. 4.6% last week). If you wanted to sell, this wasn’t a good week to wait. Which is your intention, and why?...

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