Published August 31st 2021 on Efficient frontier’s Substack
Hi everyone! After a brief hiatus, we’re back covering the cryptocurrency markets, in this edition:
* Markets overview
* Dr. Malmgren’s dramatic forecast for CBDCs & surveillance
* News and themes
Since our last edition the price of Bitcoin went up steadily, from around $31,500 to a peak of $51,500 on August 23rd. Since it has been trading in a range between $49,700 and $46,300.
Inflation has been in the news lately, as mainstream outlets have reported high year-over-year inflation figures, officially 5.39%, and 13.38% according to the 1990-based Alternate basket.
The crypto crowd associates price rises with monetary inflation, which is blamed on QE, ‘helicopter money’ and the 0% reserve banking system resulting from the Covid-19 crisis.
Published on Efficient Frontier’s Substack on July 2nd
Welcome to Efficient Frontier’s newsletter!
On May 21st the high ranking Chinese FSCD called for a general crackdown on cryptocurrency mining and speculation. From May 25th and June 19th local bans were specified in Inner Mongolia, Qinghai and Sichuan provinces.
In recent weeks, we’ve seen markets range sideways in a range between $30–40k. In this blog post, we deep dive into some of the charts to explain this sideways market.
Institutional exit and re-balancing
Last year, we saw a lot of buzz around the institutions and professional hedge funds that were entering our space. They provided much of the impetus for the rush into crypto markets and the massive bull run that we recently experienced. …
Published on Efficient Frontiers Substack on June 11th
The power of internet based corporations has grown exponentially over the last two decades and many feel the power of democracy has weakened. In this environment, savvy leaders have increasingly worked with ‘big tech’ to benefit themselves and their citizens. So what’s new?
Lately Bitcoin technology is approaching this global political stage, just like Google did, but with a twist. On one hand, some entities, such as the ECB, the IMF (and of course the government of China), express worries of losing more power to ‘artificial’ currencies, insisting on creating CBDC’s. …
Originally published on Efficient Frontiers Substack on May 29th
Whether prices are ascending or crashing, public figure’s opinion is continuing to converge toward acceptance of Bitcoin and decentralized currency networks. Last week’s volatility may have softened the hearts of some of its natural directors.
“Bitcoin has survived a number of big “crashes”, while Pets.com didn’t survive one…It would be a mistake to underestimate the unique…
Originally published on Efficient Frontiers Substack on April 29th
One year after the United States started the biggest ‘money printing’ experiment in its history, the American public and media are clearly noticing the changes that is happening. Two striking example lately came to our attention:
“ Every day, some new money weirdness crosses our feeds,” wrote New York Magazine the same week. The famous publication owned by Vox media dedicated the cover of its last issue to the changes in the value and meaning of money, and surprisingly actually shared the following quotes:
Originally published on Efficient Frontiers Substack on January May 15th
Is this real life? The latest crypto headlines have been Elon Musk (Tesla’s CEO) swearing not to make Bitcoin transactions, the CEO of Facebook naming his pet goat Bitcoin and the CEO of Geometric saying “SpaceX have solidified DOGE as a unit of account for lunar business in the space sector” (for more serious news see the news & links section). In addition to the market overview we’ve added a summary of The Economist’s special report on GovCoin and CBDCs. Enjoy!
Originally published on Efficient Frontiers Substack on January April 10th
As summer begins in the northern hemisphere, Bitcoin has ended its best Q1 in 8 years and the cryptocurrency market awaits its first major company’s IPO (Coinbase on April 14th). Since our last newsletter Consolidation Edition, Bitcoin’s price rose from $51,358 to around $56,500 in two days, and since has been ranging between $60,000 per-coin to $54,000, currently at $58,000. Etherum is holding above $2,000 for the first time, now at $2080.
Two metrics, the “Kimchi” South Korean Bitcoin premium, and Bitcoin futures premiums (basis) may hint that retail excitement…