Feb 1, 2024 | Chainletter
After all the noise around the US ETF approval, the BTC price is back to where it started the year. The froth has come out of the market and valuation remains compelling. Meanwhile macro uncertainties – whether in China or the US – continue to argue for...
Jan 19, 2024 | Chainletter
We argue that Bitcoin’s final quarter price action was driven predominantly by changing macro circumstances, rather than by the prospect of widespread institutional take-up in anticipation of US spot bitcoin ETF approvals. While the price of bitcoin has had a strong...
Jan 4, 2024 | Chainletter
2024 is a year that promises much for Bitcoin and crypto. The wreckage from the worst excesses of the last cycle lies behind us while bullish catalysts loom. It won’t be plain sailing, but better understanding of this revolutionary asset will continue to drive wider...
Dec 22, 2023 | Chainletter
The growth of fees on the Bitcoin Network is a game changer. It also enables a more robust valuation framework, which we present for the first time here. We suggest that the politicians are ready to let the US economy run hot in election year, and look at relative...
Dec 9, 2023 | Chainletter
Bitcoin’s burst through US$40,000 has triggered wider interest in the asset class. Where does it go from here? What names are we looking at among the altcoins and how are they performing? HODL waves show that a growing proportion of bitcoin owners are here for the...
