Issue #13
Bitcoin is up over 30% to date in October, reaching as high as +53% last week. We printed new all time highs last week, but quickly rejected as excessive leveraged long positions piled up. Today we find ourselves at $58.5K.
Issue #12
Last issue, at $47K we noted some concerning metrics, but noted the data remained bullishly skewed into the end of August. Price continued to climb achieving two daily closes above $50K before collapsing through September. We did not expect this drastic a fakeout on claiming $50K.
Issue #11
Last issue we noted the improving fundamentals for Bitcoin following the China exodus and subsequent regulatory attack on Bitcoin. We finished the newsletter noting:
“For now, fundamentals and technicals are skewed towards the upside, and our base case is we will move towards the mid- to high-$40Ks over the coming weeks.”
Issue #10
Last issue we reviewed the China’s crypto exodus and argued why we believed the Bitcoin hash rate (then at 102 TH/s) was within 10% of the bottom as “China was no longer the risk factor to Bitcoin”. We were wary of S&P breakdown risk while Bitcoin remains vulnerable and noted the $32-40K range as the key levels to watch for.
Issue #9
These are unprecedented times. The Bitcoin network has just experienced the biggest attack in its history. 50% of Bitcoin’s security has been wiped out in just over a month as hash rates plummet from China’s mining ban.
Issue #8
Bitcoin is trading at more than 40% below the all-time high for the first time since October last year. Time for a quick overview of what has happened in the past month.
Issue #7
Every month we write a short update on the market. We try to time this around pivotal moments for Bitcoin. It can be hard to time a newsletter around a market top, as Bitcoin dumps quickly. A lot has happened in the last few days and this -22% flash crash represents a huge opportunity.
Issue #6
Every month we write a short update on the market. Last issue, when Bitcoin was $48K we noted: “Downside looks limited. A flushout of leveraged traders may be required before continuation, in which case low $4X,XXX K would be an attractive region to buy.”
Issue #5
Every month we write a short update on the market. We try to time this around pivotal moments for Bitcoin. We are writing this newsletter as Bitcoin has just achieved a new all time high of $50.8K and is currently trading at $48K, following the Microstrategy’s announcement they will be raising capital for $600M more Bitcoin.
Issue #4
Every month we write a short update on the market. We try to time this around pivotal moments for Bitcoin. We wrote the last issue when Bitcoin was $23.5K. We expected the bull-run to continue, with a dip being a further buying opportunity.