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21st May 2022 > > The halvening.

tl;dr

The halvening graph always cheers me up.


Market Snap (at time of writing)








Market Wrap

It’s now been exactly a month since BTC last had a 4-handle and a week ago we saw a 2-handle for the first time since July 2021. Meanwhile, the S&P 500 is down 20% from its January 2022 all-time high with nearly half that loss occurring in the last 3 weeks. Who sold in May and went away?


Curious Cryptos’ Commentary – Retail product adoption of cryptos

Tag Heuer, purveyors of fine watches to both Premiership footballers and others who have good taste, has announced it will now accept payment in 12 different cryptos up to a limit of $10,000.


Frederic Arnault, CEO of Tag Heuer, had this to say:


“As a luxury brand, we had to ensure that our entrance into Web3 would meet our standards of excellence, and thanks to our nimble teams in-house and with the support of BitPay we are able to dive into this new financial world in the best way possible.”


Cryptos and Web3? Tag Heuer is my kind of company.


Though I should point out that no self-respecting Premiership footballer would be seen with a watch costing only $10,000.


Curious Cryptos’ Commentary – Techies are out in force

Technical Analysis (TA) is simply snake oil, but much like Central Bank Digital Currencies (CBDCs), though we would like to ignore it, we cannot do so as so many people put store by it.


I prefer to look at real life factors – my experience tells me that the central thesis of TA (that everything is already priced in) just isn’t true.


There has been much discussion in the past about the halvening and its impact on the price of BTC. Anyone who got as far as Economics 1.0 knows that restricting supply will – all other factors being equal – lead to a price increase. Which does appear to be the case for BTC too.


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