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…
Originally published on Efficient Frontier Substack on March 26th
Bitcoin’s price is close to finishing its 6th week above $40,000 after trading in the last week between $52,000 to $60,000. Yesterday Tesla surprisingly announced on Twitter they will be accepting Bitcoin for electric cars and the price shot up to $57,272. However, it quickly lost momentum and dropped to a low of $50,400 at the time of writing, with many market participants expressing negative sentiment.
After spending 10 days under 50K per-coin, Bitcoin reached a new record price this Sunday: $61,699, after a nerve-racking dip to $43,300, when many institutions sold down profitable positions, driving the GBTC premium negative.
In part 1 we introduced on-chain derivatives and explained why they’re essential, dividing them into 2 ‘tech’ categories: A) synthetic assets and B) on-chain perpetual swaps. Then we reviewed in detail how UMA and Opium (both synthetic assets projects on Ethereum) work and how they’re controlled, and also analyzed how decentralized they really are. Today we’re conquering another mountain top so to speak, by explaining the details of the most well known and oldest Ethereum synthetic asset project, and perhaps the most misunderstood one — Synthetix. Though few resources make its inner working clear, it boasts $2.2 …
Just another two weeks in the 100 years peer-to-peer money trend:
Tesla bought $1 billion worth of Bitcoins. Microstrategy bought 19,000 more Bitcoins for $1 Billion+ and SquareCrypto purchased 3,300 Bitcoins. Twitter and Square CEO Jack Doresy and rapper Jay Z donate 500 Bitcoin to increase its adoption in India and Africa. Canada approved Bitcoin ETF and Tether settles with N.Y. Attorney General.
Unless you receive this letter by fax, you probably know that after Tesla’s Bitcoin announcement, the price jumped to new highs and spent its first 5 days above $50,000 per-coin. Since Sunday Bitcoin has dropped 23% from…