The Market Sentimentalist - Anatomy of a Bubble (And What It Means for Bitcoin)

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Thematic (Sector/Industry)

Price action on Bitcoin has been accelerating again this year, taking the crypto-currency price from a three to a four-digit figure.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/039/912/original/chart%201.png?1512557173" class="editor-image img-responsive" data-smartkarma-image-id="39912"></figure>This strong price action has lifted volatility: three-month historic volatility is now 92% annualized.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/039/913/original/chart%202.png?1512557216" class="editor-image img-responsive" data-smartkarma-image-id="39913"></figure>Of note, volatility comes from up and down moves not only from down ones - and what matters the most for risk averse investors is avoiding downside.The volatility calculated on down moves alone (called "Downside Vol") is only 63% as the chart above shows. This is…

Price action on Bitcoin has been accelerating again this year, taking the crypto-currency price from a three to a four-digit figure.This strong price action has lifted volatility: three-month historic volatility is now 92% annualized.Of note, volatility comes from up and down moves not only from down ones - and what matters the most for risk averse investors is avoiding downside.The volatility calculated on down moves alone (called "Downside Vol") is only 63% as the chart above shows. This is…

The Volatility of Bitcoin