Specialising in Bitcoin, Gold and Digital Assets

ByteTree Asset Management

Investment Manager specialising in bitcoin, gold and digital assets

CEO, ByteTree Asset Management

Crypto

A dramatic week in markets has seen some extraordinary price behaviour across multiple asset classes. The pound has moved in a range between 1.13 and 1.04 to the dollar, while UK long-dated gilts lost around 12% of their value in around 24 hours between Wednesday and Thursday. Commodities are bouncing around like rubber balls in a playground, while we are starting to see the first signs of corporate disappointment, with earnings misses from Nike and Car Max (second-hand car sales) in the US, for example. It’s a troubling environment. Critics of crypto’s volatility have gone a bit quieter now that some of the world’s “highest quality” assets are behaving like penny stocks.
This month’s Adaptive Asset Allocation Report remains unequivocally downbeat. As Robin writes, &nbsp; “Having been in the stock market since 1966, I can assure you that this is now the scariest time to endure since 1974”.
Rashpal takes it further, arguing that “new lows are expected soon”. To find out why and to understand the rationale behind their clear-sighted, disciplined, capital-preserving approach, I highly commend the latest note. The performance record is remarkable. To my mind, AAA alone is worth significantly more than the £25 monthly ByteTree Premium subscription fee. For flavour, last month’s report can be found here.
Through all this turmoil, Bitcoin has pretty much flat-lined this week, which is interesting. In this week’s ATOMIC, we keep a beady eye on Bitcoin’s relative performance against the NASDAQ. A relative breakout – should it happen – would be a major turning point for the asset class. Charlie M looks at the “dollar bubble” and echoes the AAA’s fears for the US stock market, while highlighting that any dollar trend-reversal should get bitcoiners very excited.
All this hasn’t gone unnoticed at the investment ogre BlackRock, who has just launched the iShares Blockchain ETF. This is big news for crypto as it adds another level of institutional certification. Furthermore, it’s another channel for long-term industry funding. Crypto prices might be subdued, but industry development remains frenetic.
Finally, this week’s Token Takeaway delves into PancakeSwap, which is a decentralised exchange. Ali has done a great job explaining where PancakeSwap and its token CAKE sit in the pantheon of DeFi. The automated exchange is a fascinating use case, unique to crypto. At this very early stage, it’s hard to envisage how the business model and competitive environment will evolve, but in anticipation of a resurgence in the space, we will be keeping a close eye on developments. CAKE is certainly a contender. Have a great weekend,

A dramatic week in markets has seen some extraordinary price behaviour across multiple asset classes. The pound has moved in a range between 1.13 and 1.04 to the dollar, while UK long-dated gilts lost around 12% of their value in around 24 hours between Wednesday and Thursday. Commodities are bouncing around like rubber balls in a playground, while we are starting to see the first signs of corporate disappointment, with earnings misses from Nike and Car Max (second-hand car sales) in the US, for example. It’s a troubling environment. Critics of crypto’s volatility have gone a bit quieter now that some of the world’s “highest quality” assets are behaving like penny stocks.
This month’s Adaptive Asset Allocation Report remains unequivocally downbeat. As Robin writes, &nbsp; “Having been in the stock market since 1966, I can assure you that this is now the scariest time to endure since 1974”.
Rashpal takes it further, arguing that “new lows are expected soon”. To find out why and to understand the rationale behind their clear-sighted, disciplined, capital-preserving approach, I highly commend the latest note. The performance record is remarkable. To my mind, AAA alone is worth significantly more than the £25 monthly ByteTree Premium subscription fee. For flavour, last month’s report can be found here.
Through all this turmoil, Bitcoin has pretty much flat-lined this week, which is interesting. In this week’s ATOMIC, we keep a beady eye on Bitcoin’s relative performance against the NASDAQ. A relative breakout – should it happen – would be a major turning point for the asset class. Charlie M looks at the “dollar bubble” and echoes the AAA’s fears for the US stock market, while highlighting that any dollar trend-reversal should get bitcoiners very excited.
All this hasn’t gone unnoticed at the investment ogre BlackRock, who has just launched the iShares Blockchain ETF. This is big news for crypto as it adds another level of institutional certification. Furthermore, it’s another channel for long-term industry funding. Crypto prices might be subdued, but industry development remains frenetic.
Finally, this week’s Token Takeaway delves into PancakeSwap, which is a decentralised exchange. Ali has done a great job explaining where PancakeSwap and its token CAKE sit in the pantheon of DeFi. The automated exchange is a fascinating use case, unique to crypto. At this very early stage, it’s hard to envisage how the business model and competitive environment will evolve, but in anticipation of a resurgence in the space, we will be keeping a close eye on developments. CAKE is certainly a contender. Have a great weekend,

Bitcoin

Turmoil in TradFi