Bitcoin and Ethereum have remained rangebound over the last fortnight, but elsewhere the crypto market has been having a tough time. Is this the start of a bear market, or is it a bear trap, designed to shake out weaker holders and present an opportunity to those with greater conviction? This week we explore the different sets of evidence. We lean heavily to the trap view. There will doubtless be more volatility, but we retain our confidence in a strong end to the year.
One of the reasons for altcoin weakness is the sheer volume of issuance. Supply constrained names have held up ok. On-chain activity presents a mixed picture, but broadly speaking we see constructive patterns.
Is inflation dead or merely resting? The price of natural gas might give us a clue, and the timing of the UK general election suggests that Rishi Sunak has a view as well. We mention mBridge, a digital currency experiment that would provide emerging economies with a way around the US dollar.
If you’re in the property game you’ll be fascinated by Propy, and it’s also great to see evolving tokenomics at Uniswap. Crypto needs sound financial models to ultimately succeed. We also explore the phenomenon that is Toncoin and explain what a DEX is, in CryptoTutor.
Finally, we have a rant about the so-called climate emergency, the lunacy of expensive energy, and the role bitcoin mining can play to help us look after the environment.
Technical Is weakness in the altcoins a sign of worse things ahead?
On-Chain Bitcoin activity weakens, but solid signs elsewhere
Macro Biden buddies up to crypto, UK inflation
Cryptoverse Toncoin, Uniswap and Propy – the use cases keep coming
Ethos Bitcoin and Energy efficiency
CryptoTutor What’s a DEX?