In today’s briefing:
- Crypto At The Christmas Table
- Silvergate Capital Corp (SI US): TSS Target Achieved in 3 Days (+10.69%)
Crypto At The Christmas Table
- We’ve all been there. At some point in the Christmas supper, maybe between the roast turkey and the mince pies, Aunty Hilda or Granda Joe inadvertently starts a heated debate around this “bitcoin thing.”
- There may be a tech-savvy cousin who tries to come to the rescue and explain how blockchain works or why people value jpegs on the internet, to no avail.
- This year the Etherbridge team thought we would do a holiday special titled “Crypto At The Christmas Table” so you are fully prepared to handle any blockchain conversation that may arise. So let’s dive in.
Silvergate Capital Corp (SI US): TSS Target Achieved in 3 Days (+10.69%)
- On 6 December we determined that a new interim downtrend low below 23.20 would likely fail and produce a 10% to 20% correction in 1-2 weeks.
- SI US subsequently bottomed at 21.32 and produced a 10.69% gain in the following 3 days to a high of 23.60.
- Note that this result was at the lower end of our expectations, however we must acknowledge a positive result. Gains were quickly given up in the following session however.
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