Bitcoin Still Shines Like A Sun

In this post, I would like to show you what happens to the structure of the crypto market over time as new stars join the universe with hopes of taking down the shining star, Bitcoin.

Chart 1. Market Cap Comparison: Bitcoin, Ethereum, and Altcoins

Bitcoin vs. Ethereum

The chart above starts in September of 2017. Both altcoins and Ethereum had a market cap of around $30 billion, while the main coin had more than double that at $72 billion. The latter started to rally at once, reaching the top of $231 billion by the end of 2017. Altcoins followed Bitcoin with a delay of one month; however, the growth was more robust and the market cap caught up with that of the main coin rising more than seven-fold. It was that very rare moment when the market cap of altcoins could touch the “Sun” of Bitcoin in the considered period. Continue reading "Bitcoin Still Shines Like A Sun"

BTC Technical Outlook Is Bullish!

If you've hung around my articles long enough, you know that when I take a look at what assets to devote my hard-earned cash to, I've found that both technical and fundamental analysis are two great tools. They've served me well over the years.

In fact, earlier this year I did a deep dive into why both technical and fundamental analysis is the dynamic duo of investing. And I didn't pull any punches about the merits of using both these tools. Here's what I said:

Through my experience as a stockbroker, accountant, and financial analyst, I can tell you that the best investors I've run across usually deploy a mixture of fundamental and technical analysis when they go around looking for investments. They want to know what an asset does and how it makes money. But they also want to know what's happening to its price.

Today, I'm going to revisit the first of these tools, technical analysis, and apply two of my favorite tools in that toolbox to Bitcoin (BTC). Why? Because when I fired up my computers and screeners this morning, my technical signals were going off the charts.

So, let's get to it! Continue reading "BTC Technical Outlook Is Bullish!"

Cryptocurrency Strategies for 2022

SkyBridge Capital Founder Anthony Scaramucci, CoinShares CSO Meltem Demirors, and Seymour Asset Management CIO Tim Seymour join host Melissa Francis, former CNBC, MSNBC, Fox Business, and FOX News anchor, to delve into the nuances of the digital currency market.

Watch the full interview and see more on crypto, inflation, and interest rates from Wall Street titans on Magnifi by TIFIN.

Melissa Francis
Welcome back to Magnifi by TIFIN. Today, we are talking crypto and the best way to incorporate it into a portfolio. Tim Seymour is CIO of Seymour Asset Management, and Meltem Demirors as chief strategy officer at CoinShares. Welcome to both of you.

Melissa Francis
You guys have both been pioneers in crypto. But before we get to that even, I want to get your reaction to what you heard Anthony Scaramucci say. Well, let's start with crypto. I mean, he says he thinks it's going to get to 100,000 in the next two years. What do you think about that?

Tim Seymour
Meltem, do you want to jump in? I'll jump in. Yeah, I think we've seen a ton of volatility in crypto and Bitcoin markets in in the last, probably five years. So the question of calling where 100,000 is the mark, I think the more important dynamic is that prices are moving higher and that the drawdowns of 20% to 40% seem to be somewhat garden variety. I think we're going to get into this conversation, the fundamentals for owning Bitcoin.

Something I also heard Anthony talking about is the regulatory environment around Bitcoin is something that's actually a friend to the pricing, and despite the decentralized nation and some of the ethos and the existential reasons for wanting to own Bitcoin, and I get it. Defi to the moon, but Bitcoin's going higher.
Continue reading "Cryptocurrency Strategies for 2022"

Crypto: Failed Rally Builds Ambiguous Pattern

Before starting the crypto update, I would like to check an assumption circulating in the media regarding a strong correlation of Bitcoin with the Nasdaq 100 index in the chart below.


It is safe to say that over the past two years, most of the time, Bitcoin was in a positive correlation with the Nasdaq 100 index. However, the current positive relationship is cooling down as we saw an almost absolute correlation at the beginning of February at 0.91, and these days it slipped down to 0.34.

Miscorrelation periods usually appear due to the higher volatility of Bitcoin and longer periods of price inertia in the stock index. In other words, these two instruments have different speeds. Continue reading "Crypto: Failed Rally Builds Ambiguous Pattern"

Behind Wells Fargo's Crypto Report

As you know, if you've been visiting here over the past year, we've had a ton of fun looking at how some of the biggest financial powerhouses are approaching cryptocurrency and blockchain investing.

Most recently, investment banking behemoth Goldman Sachs said that Bitcoin (BTC) was likely headed to $100K and above in 2022. When I used a similar calculus to what they did, my numbers were even higher.

We also looked at the bombshell crypto report from Bank of America that said in no uncertain terms that crypto was "too large to ignore." And we also did a deep dive into what consultancy giant Deloitte found when it asked businesses how they felt about the crypto and blockchain space. And the bottom line from that report was that if you're in business and you ignore crypto, you do so at your own peril.

Now, banking giant Wells Fargo has thrown their hat in the ring with what they think about the future of cryptocurrency for investors. And I think you'll be as surprised as I was when I looked under the hood of the report.

So, let's get down to business! Continue reading "Behind Wells Fargo's Crypto Report"