Author: Editorial Office CVJ.CH

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Consolidation below 60’000 USD The reporting week was quiet in terms of Bitcoin volatility ratios. Throughout the week, the main trading activity was concentrated in the 58′,000 USD – 59’000 USD range. Mid-week, the price set off for a test of the current market strength on Wednesday with a small setback back to the 56’000 USD level. On Thursday, the market provided a clear answer that the time for major corrections has not yet come with a snap back to the level of 58’000 USD. Accordingly, the price trend at the…

Last Thursday, the Kessel Group presented at the digital congress “Classic Car Marketing” how modernity can be combined with tradition. Because for a good year now, the company has been accepting Bitcoin as a means of payment for the purchase of their vehicles. The demand for classic cars has been increasing, especially since the beginning of the pandemic. On the one hand, it is the desire to fulfil a dream, on the other hand, Classic Cars are seen as an investment. For the purchase of these vehicles, digital currencies are increasingly preferred, especially by international customers. Easy payments with Bitcoin…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. Q1 Trade Volume Breaks New Record Q1 2021 has come to a close, and with it one of the most consequential quarters in the history of crypto. A wide range of milestones was reached across various sectors of the industry: Tesla purchased a historic amount of bitcoin for its balance sheet, a record number of firms submitted crypto ETF applications, Visa enabled stablecoin settlement,…

Asset manager CoinShares is adding a Litecoin ETP to its number of investment products with the launch of a new exchange-traded product (ticker: LITE). The Swiss Stock Exchange (SIX) has already added a few crypto ETPs to its platform before. CoinShares’ investment products offer exposure to Bitcoin (BTC), Ethereum (ETH) and now Litecoin (LTC). They are available to qualified institutional and retail investors across Europe. Rising demand for crypto assets LITE will initially be listed on the regulated SIX Swiss Exchange (ISIN: GB00BLD4ZP54) and has a base fee of 1.50% per annum. Each unit of LITE is backed by 0.20…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Consolidation below 60’000 USD The reporting week was very quiet in terms of Bitcoin volatility ratios. The declining volume may also be attributed to the Easter holiday. Monday started auspiciously for the bulls, as Bitcoin was able to break the previously formed bull flag to the upside. The breakout took the price back above the 57’500 USD mark. However, with 58’873 USD at the end of the day on Tuesday, a higher level was reached once again. Around the zone of 58’000 USD, trading activities had already taken place frequently two…

Contrary to what is portrayed in public debates and the media, neither the length of the Blockchain, nor the number of transactions have a major impact on energy consumption. An overview of the carbon footprint of Bitcoin, Ethereum and non-fungible tokens (NFTs). Two distinct parts add up to the total consumption of Blockchains like Ethereum and Bitcoin. The first part is for running the computers on which a Blockchain is stored – called nodes. The official number of nodes for both Bitcoin and Ethereum is around 10’000 – although it is suspected that many more nodes conceal their existence. The…

Myths and facts about Bitcoin are abundant and everywhere. But which of them actually reflect the truth? We provide an overview of the five most common myths about the mother of all cryptocurrencies, as well as the facts behind them. “Bitcoin is used primarily by criminals to launder money” Bitcoin transactions can be viewed by everyone due to the open bookkeeping via blockchain technology. This makes Bitcoin a bad option for criminals and money launderers. After all, authorities can investigate all transactions on the blockchain directly from their desk and without any problems. Offshore constructs and the traditional banking system…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in the cryptomarkets: Price Movements: Crypto assets powering blockchain networks have seen triple digit returns throughout 2021 ranging from +100% to +600%. Trading Volume: The average trade size for BTC-USD markets has doubled on most exchanges since October 2020. Order Book Liquidity: The bid-ask spread is narrowing for crypto-fiat trading pairs after a prolonged period of volatility. Volatility and Correlations:…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Consolidation below 60’000 USD In the reporting week, a correction phase dominated, with its lowest point occurring on Thursday. Right at the beginning of the week, losses led to a first correction, which brought the price back to the zone of 54’000 USD. The triangle formed in the previous week was broken downwards, and this triggered technically based selling pressure. After an indecisive trading day on Tuesday, the tendency for prices to fall continued on Wednesday. On Thursday, the correction that had been ongoing since the beginning of the week bottomed…

A comprehensive overview of the latest developments in the (crypto) markets. Concisely summarized in a market commentary by the CVJ.CH editorial team. Market Commentary Bitcoin (BTC) After Bitcoin reached a new all-time high at $62,000 almost two weeks ago, another correction period followed (-18%). In the context of the macro structure, this was a healthy breather. The positive pattern of higher highs and higher lows thus remains intact, provided that the bottom of this correction was reached yesterday. A renewed attack on the all-time high cannot be ruled out after a potential consolidation phase. Ethereum (ETH) Ethereum follows Bitcoin as…

After stunning the market earlier this year with a bold bet on Bitcoin, Tesla Inc. has now started accepting Bitcoin (the world’s largest electronic currency) as a means of payment for its electric cars. On Wednesday, Elon Musk, founder and CEO of Tesla, announced that American customers can now buy their Tesla with Bitcoin. This is a significant step for the use of the cryptocurrency in commercial trade. The direct payment option will become available to customers outside the U.S. later this year. https://twitter.com/elonmusk/status/1374619379929772034 According to Elon Musk, the cars will be priced globally in dollars, but Tesla will keep…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in the cryptomarkets: Price Movements: Bitcoin is up 99% YTD while gold is down more than 10%. Trading Volume: Trade count has fallen on Uniswap despite soaring volumes. Order Book Liquidity: Price slippage shows how easy it is to move Bitcoin’s price. Volatility and Correlations: USDC is the most stable stablecoin. Financial markets diverge Financial markets have lost momentum in…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Consolidation below 60’000 USD In the reporting week, Bitcoin put a marching stop to the upward movement initiated since March 5. This led to a new all-time high at 61,680 USD on Saturday of the previous week. From Sunday and at the beginning of the reporting week, profit-taking set in, which brought the price back to the weekly low of 53,008 USD by Tuesday. The daily closing price and trading activity on Wednesday already took place again at elevated levels above the 57’000 USD zone. From Thursday, the main action took…

Xion Global, a South African based fintech company, has developed a decentralized payments gateway that allows online businesses to accept multiple payment options, including cryptocurrency, which skips the scrutiny of traditional card payment providers. Xion Global was founded by South African brothers Ronan and Aeryn Quarmby and Brent McMahon-Panther, who developed the payment gateway after experiencing frustrations with payment options currently available for online businesses. They felt the system was too complex and the high fee structures automatically excluded smaller business owners. Having spent the last four years in research and development, Xion Global has been registered in the United…

Morgan Stanley becomes the first major U.S. bank to offer its wealthy clients access to Bitcoin funds. The Bitcoin rally over the past year has seemingly put pressure on Wall Street to consider diversification into the emerging asset class. In an internal memo on Wednesday, the investment bank told its financial advisors about this development. As such, access to three different funds will allow for investments in the Cryptocurrency. The significant step for the adoption of Bitcoin as an asset class was made by Morgan Stanley after clients demanded the investment opportunities. At least, that’s what insiders who shared details…

Since the summer of 2019, crypto company Bitcoin Suisse has been waiting for its Swiss banking license. However, the Swiss Financial Market Supervisory Authority (FINMA) has classified the application as not approvable as things stand today. The company has now withdrawn their application. As early as July 2019, Crypto Valley veteran Bitcoin Suisse submitted an application to FINMA for a Swiss banking license. This would help further expand their offering and strengthen their position as a crypto financial services provider. However, FINMA recently expressed concerns about its anti-money laundering defence. Now, the board of directors has decided to withdraw the…