Tag Archive for: ethereum

eth etf

eth etf

In the ever-evolving world of finance, a new horizon is emerging that could reshape how we view investment in digital assets.

The possibility of an Ethereum (ETH) Exchange-Traded Fund (ETF) has stirred a buzz in both the cryptocurrency and traditional financial sectors. Imagine a world where investing in Ethereum, the second-largest cryptocurrency by market capitalization, is as simple as buying shares in your favorite company.

This development is not just about expanding investment portfolios; it’s a milestone that bridges the often-mystifying gap between the burgeoning world of cryptocurrencies and the traditional, regulated financial markets.

In this blog post, I’ll going to cover the complex journey towards the potential approval of an Ethereum ETF, unpacking the SEC’s cautious stance, industry forecasts, and the significant implications this could have for the future of cryptocurrency investments.

The SEC’s Stance and the Delay in Approval

The United States Securities and Exchange Commission (SEC) plays a pivotal role in the approval of any Exchange-Traded Fund (ETF) in the United States, including those based on cryptocurrencies like Ethereum. The SEC’s primary concern has always been investor protection and market integrity. In the case of Ethereum ETFs, the SEC’s cautious approach is evident.

The SEC has historically shown a pattern of delaying decisions on cryptocurrency ETFs. For instance, the decision on BlackRock’s spot Ethereum ETF was postponed, a move that aligns with the SEC’s typical strategy of taking additional time to assess these novel investment products. This delay, announced just a day before the initial deadline of January 25, initiated a 240-day review period, a window the SEC often utilizes for comprehensive evaluation.

For BlackRock’s proposal, the final decision date is set for August 7, 2024. However, this is not an isolated case. The SEC has several deadlines stretching from May 23 to August 3, 2024, for various Ethereum ETF applications.

The SEC’s decision-making process is complex and influenced by a multitude of factors. While no specific numbers can predict the outcome, the trend of delays followed by eventual approvals, as seen in the case of Bitcoin ETFs, offers insights. The SEC approved 11 Bitcoin spot ETFs, albeit after significant delays and scrutiny, indicating a gradual opening to cryptocurrency-based investment products.

The market dynamics surrounding Ethereum also play a crucial role. Ethereum’s transition to a proof-of-stake model (Ethereum 2.0) and its position as the second-largest cryptocurrency by market capitalization are critical considerations for the SEC. This transition might influence the liquidity and volatility of Ethereum, factors the SEC is likely to scrutinize closely.

Forecasting the SEC’s decision is challenging, given its history of unpredictability in dealing with cryptocurrency products. However, experts like Bloomberg ETF analyst Eric Balchunas and his colleague James Seyffart have expressed optimism, estimating a 60-70% likelihood of approval for Ethereum ETFs in 2024. This optimism is partly based on the precedent set by the approval of Bitcoin ETFs and the growing institutional interest in Ethereum.

The journey of Bitcoin ETFs provides a valuable case study. The SEC’s eventual approval of Bitcoin ETFs, after initial reluctance, suggests a warming up to the idea of cryptocurrency as a legitimate asset class. This could bode well for Ethereum ETFs.

Industry Experts Weigh In

The discussion surrounding the approval of an Ethereum ETF is not just confined to regulatory circles; it’s a topic of keen interest among industry experts who offer varied perspectives based on market analysis, regulatory trends, and the evolving landscape of cryptocurrency investments.

Optimistic Outlooks

Crypto Market Analysts’ Predictions: Many experts are in the camp that foresees a positive outcome for Ethereum ETFs. Matt Kunke expresses a robust 75% likelihood of approval come May 2024, basing his optimism on the success of both Ethereum futures and the broader acceptance of cryptocurrency in the regulated financial markets. Philippe Bekhazi echoes this sentiment, underlining the parallels between Bitcoin and Ethereum, particularly their status on regulated futures markets like the CME.

Comparison with Bitcoin ETFs: The precedent set by the approval of Bitcoin ETFs is often cited as a reason for optimism. These experts draw parallels between the trajectory of Bitcoin ETFs and the potential path for Ethereum ETFs. The successful launch and operation of Bitcoin ETFs have seemingly paved the way for a similar acceptance of Ethereum-based products.

Cautious Stances

Traditional Financial Analysts’ Views: On the other end of the spectrum, voices from traditional finance, like Anthony Scaramucci of SkyBridge Capital and analysts at JPMorgan, exhibit more caution. They point out the SEC’s historically stringent approach towards crypto-related products and the unresolved question of Ethereum’s classification as a commodity or a security. This uncertainty, they argue, casts doubt on the likelihood of an Ethereum ETF approval in the near term.

SEC’s Past Decisions and Statements: The fact that the SEC’s approval of a Bitcoin ETF was a close call, with only a one-vote margin, including SEC Chair Gary Gensler’s vote, is often referenced. Gensler’s stance that the approval shouldn’t be seen as an endorsement of crypto assets adds to the cautious outlook.

Market Dynamics and External Factors

Ethereum’s Market Position: Ethereum’s status as the second-largest cryptocurrency and its transition to a proof-of-stake consensus mechanism are crucial factors that experts believe could influence the SEC’s decision. This transition and Ethereum’s role in the burgeoning decentralized finance (DeFi) sector may present both opportunities and challenges in the eyes of regulators.

Global Regulatory Environment: The global regulatory stance towards cryptocurrencies, especially in major markets like the EU and Asia, is also a factor that experts believe could indirectly impact the SEC’s decision-making process.

 

The Path to Approval

The journey towards the approval of an Ethereum ETF is complex, involving regulatory scrutiny, market dynamics, and evolving investor sentiment.

Understanding this path requires a look at various factors that influence the decision-making process of regulatory bodies like the SEC, and the market’s readiness for such a financial product.

Regulatory Hurdles and Process

SEC’s Review Process: The Securities and Exchange Commission (SEC) follows a stringent review process for ETF applications, which involves a thorough examination of market impact, investor protection measures, and the overall integrity of the underlying asset. In the case of Ethereum, this process is accentuated due to the cryptocurrency’s novel nature and the evolving regulatory landscape surrounding digital assets.

Impact of Precedents: The approval of Bitcoin ETFs has set a significant precedent. However, it’s important to note that each asset is reviewed on its own merits. Ethereum’s different use cases, underlying technology, and market dynamics pose unique considerations for the SEC.

Market Factors and Analysis

Ethereum’s Market Maturity: Ethereum’s status as a widely recognized and second-largest cryptocurrency plays in its favor. Its transition to Ethereum 2.0 and the adoption of a proof-of-stake mechanism have implications for its market stability and maturity – factors likely to be considered by the SEC.

Liquidity Concerns: Liquidity is a key concern for ETFs. Ethereum’s market depth, trading volumes, and the maturity of its futures market are critical indicators of its readiness for an ETF structure. The SEC will closely evaluate whether the Ethereum market can support large-scale investment without significant price manipulation or volatility.

Industry and Investor Sentiment

Institutional Interest: The growing interest from institutional investors in Ethereum, as evidenced by products like Ethereum futures, is a positive signal. This institutional shift indicates a broader market acceptance and understanding of Ethereum’s potential as an investable asset class.

Public Sentiment and Demand: Public interest in an Ethereum ETF is another influential factor. The surge in demand for cryptocurrency investment options among retail and institutional investors alike cannot be overlooked by regulators.

The Influence of Global Trends

The global regulatory and market trends in cryptocurrency also play a role. As other countries explore and sometimes embrace cryptocurrency ETFs, the SEC may feel more pressure to align with these global market trends, provided investor protection and market integrity are ensured.

 

The Final Verdict

As we approach the series of deadlines set by the SEC, the market sentiment seems to be tilting towards a positive outcome.

While the decision is far from certain, the groundwork laid by Bitcoin ETFs and the evolving regulatory environment make a strong case for the approval of an Ethereum ETF.

In summary, while there are hurdles to overcome, particularly regarding the SEC’s final stance on Ethereum’s classification and market readiness, the signs are increasingly pointing towards the eventual launch of an Ethereum ETF.

This would not only be a significant milestone for Ethereum but also a major leap forward for the cryptocurrency market as a whole.

Concluding Thoughts

As we conclude our exploration of the potential emergence of an Ethereum ETF, it’s clear that this development represents more than just another investment product; it’s a significant indicator of the evolving relationship between the traditional financial world and the burgeoning realm of cryptocurrencies.

The insights from industry experts paint a picture of cautious optimism mixed with pragmatic realism.

While some exprets view the approval of an Ethereum ETF in the near term as highly likely, traditional financial analysts urge caution, pointing to the SEC’s historical reticence and the ongoing debate over Ethereum’s classification as a commodity or a security.

The transition to Ethereum 2.0 and the burgeoning interest from institutional investors underscore the cryptocurrency’s growing stature. However, concerns about market liquidity and the SEC’s rigorous standards serve as reminders of the challenges that lie ahead.

As we stand at this potential inflection point in the world of cryptocurrencies, it’s worth pondering some critical questions:

  1. How will the approval (or rejection) of an Ethereum ETF shape the future trajectory of cryptocurrency adoption by mainstream investors?
  2. What impact could this have on the broader landscape of digital assets and decentralized finance?

These considerations are not just relevant to investors and regulators but to anyone interested in the future of finance and technology.

Let me know your answers in the comments below.

 

thumbnail the ultimate guide to blockchain and crypto assets

If you would like to learn more about crypto & DeFi, also check out: “The Ultimate Guide to Blockchain & Cryptocurrencies”

crypto home study

These are the top 10 major cryptocurrency coins based on market capitalization.

Here is a quick summary of the primary function of each cryptocurrency coin:

  1. Bitcoin (BTC) – A store of wealth, digital gold.
  2. Ethereum (ETH) – Decentralized smart contract platform, allows apps to be built on top of it.
  3. Cardano (ADA) – Decentralized smart contract platform with lower fees, specific use cases.
  4. Tether (USDT)Stablecoin, pegged 1-1 to the US dollar.
  5. Binance Coin (BNB) – Owned by the largest crypto exchange, Binance.
  6. Ripple (XRP) – Banker’s coin, settle global payments across borders.
  7. Solana (SOL) – Decentralized smart contract platform, uses proof of history & proof of stake instead of proof of work.
  8. Polkadot (DOT) – Multi-chain protocol to allow different blockchains to talk to each other.
  9. DogeCoin (DOGE) – Meme coin
  10. USD Coin (USDC) – Stablecoin, pegged 1-1 to the US dollar.

 

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If you would like to learn more about crypto & DeFi, also check out: “The Ultimate Guide to Blockchain & Cryptocurrencies”

draft 2 Defi thumbnail

Decentralized Finance (or “DeFi”) is a new global financial system that allows people to access financial services without the intervention of financial institutions such as banks.

It is a robust financial system that aims to set people free from their reliance on banks, credit unions, and insurance companies as there is no transparency in the operations of these institutions.

In this post, I will go over decentralised finance (DeFi) in detail to help you understand how it works and whether it has the potential to replace our traditional financial system.

 

decentralised finance DeFi

Understanding Centralised Finance and Its Flaws

We currently rely on a centralised financial system (or “CeFi”) in which power is concentrated in the hands of a few central authorities.

These authorities have complete control over all financial institutions, and the people are at their mercy for investment, lending, borrowing, and a myriad of other day-to-day financial services.

When people deposit money into their bank accounts, it is these financial institutions that assume responsibility for it.

The authorities set the standards and ensure that everyone follows them.

For this reason, CeFi is regarded as the most reliable and secure financial system.

That being said, this centralised system is not without flaws—in fact, the system is riddled with them.

Let’s take a closer look at two of the major drawbacks of CeFi.

1. Lack of Transparency

The first drawback of CeFi is a lack of transparency in its financial procedures.

When you deposit your money in a bank, it is never locked away in a bank account that only you have access to.

Instead, your money is handed to another person in need; otherwise, how do you imagine banks lend money?

They take your money and are responsible for ensuring that the borrower repays it.

Even though the bank returns your money if the borrower defaults on the loan, you never know what is happening with your money or to whom it is lent.

2. Data Breaches

In addition to lack of transparency, CeFi is also prone to data breaches.

There have been multiple occasions in the past where a person’s confidential information and money were stolen.

Not only that, but the centralised financial system is vulnerable to financial crises—we are all familiar with past economic downturns that rattled the financial system as a whole.

These are two main concerns in the centralised financial system that everyone should be aware of.

Decentralised finance (DeFi) is now regarded as a panacea for such financial maladies.

 

Understanding Decentralised Finance (DeFi) and Its Features

A decentralised financial system, as previously mentioned, is an alternative to a centralised financial system.

It enables financial transactions to take place without the involvement of a third-party financial institution.

It is a digital ecosystem of financial services similar to those provided by a traditional centralised financial system. All financial services in this digital ecosystem are risk-free and automated since they are handled by a “code” rather than a human.

The distinction between DeFi and CeFi is that the services of the former are developed on top of a blockchain network. Now, blockchain refers to a decentralised, distributed and often public digital ledger that records transactions across all computer systems on its network.

The best part about blockchain networks is that it is tough to manipulate the financial information that is recorded on the digital ledger. This is attributable to the fact that transactions across a blockchain network are recorded in the form of “blocks,” and any involved block cannot be modified retroactively without affecting all subsequent blocks.

In other words, it is virtually impossible to game this system.

Now, there are two main problems that DeFi solves: lack of transparency and manipulation.

As each transaction is recorded on the public digital ledger, you know exactly what is happening with your money and where it is being used. Furthermore, since this foolproof system cannot be cheated, you and your money are safe.

 

Advantages of Decentralised Finance (DeFi)

There are many other advantages of using a decentralised financial system.

1. No Censorship

In contrast to CeFi, there is no censorship in DeFi—anyone can use any type of financial service they need.

This is a pretty big deal, particularly for underbanked adults.

2. No Geographical Restrictions

You can also conduct financial transactions with people from all over the world.

Again, this is not something you can do in a centralised financial system.

CeFi has geographical restrictions and does not allow you to receive or lend money to someone in another country.

DeFi users can freely engage in worldwide peer-to-peer (P2P) lending and borrowing.

However, users can only use crypto assets—the most popular of which is bitcoin (BTC)—rather than real assets such as gold or real estate.

 

Disadvantages of Decentralised Finance (DeFi)

1. Reliant on Technology

First and foremost, because DeFi is a digital ecosystem, it is entirely reliant on technology.

Therefore, there are some serious technical risks involved—one glitch and the whole financial system can come crashing down.

2. Volatility of Cryptocurrencies

Another threat to the decentralised financial system is volatility.

Because all major cryptocurrencies are highly volatile, this system is unpredictable.

Even if a person borrows stablecoin, they must put up collateral in the form of crypto assets.

The value of this collateral is not fixed and can drop drastically at any time.

3. Risk of Hacking

Furthermore, the transparency of the smart contracts themselves can be problematic. Because smart contracts can be seen and audited by any user, they are also exposed to hackers. This means that there is still a possibility of data manipulation.

4. Lack of Oversight & Regulation

The lack of oversight and regulation that characterises DeFi is still its biggest disadvantage. The general public is so reliant on the centralised financial system that the transition to DeFi seems almost unrealistic at this point.

 

Ethereum: The Most Popular, Open-Source Blockchain Network

Ethereum is among the most popular blockchain platforms, a decentralised public ledger that enables its users to use decentralised applications (dApps).

Ethereum has its own cryptocurrency, Ether (ETH), as well as programming languages called Solidity and Vyper.

After Bitcoin, Ether is the most popular cryptocurrency in the world, and it also ranks second in terms of market value.

Since there are no financial institutions involved in any financial transactions in DeFi, there are smart contracts to ensure compliance and prevent fraudulent activities.

These smart contracts are collections of codes and are not controlled by any central authority, but they run as programmed when certain predetermined conditions are met.

Once the code is deployed on the network, it cannot be changed.

Just like a traditional contract, these smart contracts lay down the rules of the transaction, but they are automatically enforced.

For example, if a person fails to repay a loan taken from another Ethereum user, their collateral is automatically liquidated, and the loan is settled.

In the world of DeFi, smart contracts substitute all financial institutions.

 

Popular DeFi Applications

1. Digital Exchanges (DEXs)

Digital exchanges function similarly to a marketplace, allowing sellers and buyers to connect and trade cryptocurrencies and fiat currency without the intervention of a central authority.

The entire exchange process is non-custodial and takes place through smart contracts.

In other words, no third-party owns the digital assets.

2. Peer-to-Peer (P2P) Lending Platforms

If you need a loan, you can approach an available user/peer directly, bypassing any middlemen.

Because both parties rely on smart contracts, there is absolutely no risk of fraud.

3. Stablecoin

Stablecoin was developed in response to the issue of cryptocurrency volatility.

Stablecoin is a type of cryptocurrency, similar to Bitcoin and Ether.

The only difference is that stablecoins are pegged to the value of a cryptocurrency, fiat money (government-issued currency like USD), or exchange-traded commodities (such as precious metals).

DAI is the most popular stablecoin cryptocurrency, with 1 DAI going at an exchange rate of $1.

 

Will Decentralised Finance (DeFi) Take Over the Traditional Financial System?

It is safe to say that decentralised finance (DeFi) has profoundly altered the financial landscape—and rightly so.

It gives people control over their money while also delivering efficiency and transparency.

Most importantly, it has dramatically decreased the risk of corruption and fraud.

Therefore, it appears to be the best financial system today.

Having said that, the system is still in its relative infancy and is not without shortcomings:

For all its flaws, this new financial system will see many more developments in the future.

If they deliver efficient solutions to the current gaps, there is a chance that DeFi will replace the existing centralised financial system as the future global financial system.

Now that I have shared all about Decentralised Finance (DeFi) and its pros and cons, what do you think of it? Do you think it will take over the traditional financial system?

Let me know in the comments below.

 

thumbnail the ultimate guide to blockchain and crypto assets

If you would like to learn more about crypto & DeFi, also check out: “The Ultimate Guide to Blockchain & Cryptocurrencies”

thumbnail how much profits did you make from the crypto crash

Recently, there has been a lot of volatility in the Crypto market, with many bullish and bearish factors moving the market, which resulted in a big crash.

In this post, I’m going to do an overview of the crypto and forex market, review some of our recent trades, and discuss the current trading opportunities.

If you want to get all the analysis and charts mentioned in this post ahead of time, don’t forget to join our free telegram channel! https://t.me/synapsetrading

 

Covid updates

Before we go into the markets, let’s take a quick look at the Covid situation, with a focus on vaccination.

Covid updates

As you can see from this chart, the developed countries have surged ahead with vaccinations, with 50-60% of their population getting at least one dose.

For many of these places, life has almost gone back to normal, and the economic recovery has started.

Unfortunately, this recovery is going to be another K-shape recovery, because if you look at the overall numbers, only 10-15% of the global population has had at least one dose.

My guess is that by Q3 or Q4 this year, travel will resume in some developed countries.

Bitcoin: Shorting the Big Crash!

In early May this year, I started calling for a short on Bitcoin, after seeing the rising wedge pattern which evolved into a head and shoulders pattern.

Bitcoin: Shorting the Big Crash

Bitcoin (BTC/USD) is starting to form a potential reversal pattern. We need to watch out in case this price movement develops. Trade according to the trend! ??

 

Bitcoin: Buying Opportunity Now

Following up from our Bitcoin (BTC/USD) analysis just a few days ago, we accurately predicted the sharp drop of Bitcoin before it happened!

Congrats to those who followed and shorted! ???

 

Bitcoin: Buying Opportunity Now?

More recently, I noticed that Bitcoin has bottomed out for the medium-term, so I issued a buy call, which is still valid now.

 

Bitcoin: Buying Opportunity Now

Following up on our series of uncanny accurate predictions on Bitcoin (BTC/USD), it has now formed a mini double bottom (tweezer bottom), and we could well see a medium-term swing upwards, after the huge sell-down that went into oversold territory.

Though the major trend might still be bearish, this looks like a good low-risk counter-trend buying opportunity to capture a swing up.

 

Bitcoin: Buying Opportunity Now 2

Following up on Bitcoin (BTC/USD), this is the 3rd test of support (and it held), which is a sign of bullishness.

Looks like a good time to start accumulating some. ??

 

Ethereum: Profits from the Crash

Ethereum: Profits from the Crash 2

Looks like Ethereum (ETH/USD) is in for some correction as well, with the first major support at 3000. Will reevaluate when prices get there.

 

Ethereum: Profits from the Crash 2Following up on Ethereum (ETH/USD), our prediction was also spot-on, and the crash exceeded our expectations and went all the way to TP3 in just one day!

Congrats to those who followed and shorted! ???

 

Recent Forex Trades: AUD/CHF & EUR/JPY

AUD/CHF & EUR/JPY

Looking at the chart of AUD/CHF, it has tried 3 times to break the resistance to new highs, but failed 3 times.

This suggests that there may be more downside, especially if it breaks the bullish trendline.

 

AUD/CHF & EUR/JPY 3

Following up from AUD/CHF, it has broken to new lows as predicted, and is now trending downwards.

Congrats to those who followed! ???

 

AUD/CHF & EUR/JPY 3EUR/JPY remains on a strong uptrend, clearing the recent resistance, and formed a bull flag after pulling back to the 10&20-EMAs.

 

AUD/CHF & EUR/JPY 4

Following up on EUR/JPY, it has gone up by +276 pips since our last analysis.

Congrats to those who followed! ???

 

I have come to the end of this market analysis.

Now that I have shared my views on the various markets, do you think it is a good time to start buying cryptocurrencies?

Let me know in the comments below!

P.S. Check out our mentoring programs if you are keen to start your trading journey today!

draft 2 market analysis what to buy now e1618222224862

 

As countries around the world roll out their vaccine plans, we can see different industries and different countries recovering at different rates.

However, only a small percentage (about 5%) of the global population is vaccinated, so it might take a while before we start to see the results of the vaccines kick in to reduce new Covid cases.

Stock Market Surges As Predicted

Stock Market Surges As Predicted 2

If you look at the graph of new cases, it is still on the rise.

Given such a scenario, how does this affect the financial markets, and what are some of the investment opportunities we can look at?

 

Stock Market Surge

On 31 March 2021, I shared this important snippet in the public Telegram channel, because I felt that S&P 500 was going to have a breakout.

 

Stock Market Surge

“Following up on the S&P 500, it is still within the range, but now the odds are much higher that it will continue going higher.

If I had to guess, I would estimate 70% bullish and 30% bearish.

This means it’s a good low-risk opportunity to add long positions, with a SL just below the recent swing low (around 3840).

Shared this with my students a few days ago, will tonight be the night the S&P 500 makes a new high?”

 

That very night, stocks broke to a new high, and has been steadily heading up for the past 1-2 weeks.

 

Stock Market Surge 2

“Following up on our last post, the market is surging up as predicted. Congrats to those who followed! ???

 

As of Friday last night (9 April 2021), the S&P 500 has hit our first price target of 4125, giving us close to 4% gain so far.

 

Stock Market Surge 3

 

We have taken half profits, and there might be small pullback where we can add positions before gunning for the next price target.

 

Not Much Upside for Oil Markets

On 27 March 2021, I shared a chart on the long-term outlook of the Crude Oil market, and I felt that that most of the post-Covid recovery has been priced into oil, and since it won’t be going up much, I suggested taking a long-term short position on it.

Upside for Oil Markets

“Looking at the long-term chart of Crude Oil, we saw it bottom around April last year, before recovering all the way to previous highs in a 2-legged move.

Something interesting to note is that the 2 legs of the 2-legged move are exactly the same length.

Now that it has reached the pre-Covid highs, I do not see much more upside for Crude Oil.”

 

Upside for Oil Markets 2

“Following up on Crude Oil, it has started turning down as predicted. Possible short entry for the next leg down.”

Since then, prices have started to turn down a little, and I will continue to hold my short positions for another possible leg of price movement downwards.

 

Will USD Become Bullish?

On 27 March 2021, I noticed that the USD was picking up strength, which was surprising, considering how much money the US has been printing.

My guess is that currently, the US is recovering faster from Covid as compared to many of the less developed countries.

 

USD Become Bullish

“Looking at the US Dollar Index (DXY), it seems like after a multi-year downtrend, the USD is picking up strength.

It has broke the long-term bearish trendline, formed a small double bottom, and is now challenging the 200-EMA.”

 

USD Become Bullish 2

Looking at the larger chart of the US Dollar Index (DXY), you can see that price has formed a double bottom, however the size of this pattern is not that convincing since it is comparatively small.

Price is now fighting in the middle of the EMAs, and we will need to see if it can emerge victorious and stay above all the EMAs.

 

Relative Strength of Forex Pairs

Let’s take a look at the other currencies and their relative strength.

Strength of Forex Pairs 2This shows the current ranking of different currencies, from strongest to weakest.

 

Strength of Forex Pairs 2

“Stocks continue to surge as predicted, and because the JPY is weakening, all pairs of /JPY are very bullish too.”

This shows the trends of the different currency pairs, stocks indices, commodities and bonds.

From these 2 tables, we can see that JPY & GPY are bearish, while USD & CHF are bullish.

 

Crypto: Bitcoin & Ethereum

Cryptocurrencies are really heating up right now, and I’ll be focusing on the 2 major ones – Bitcoin (BTC/USD) and Ethereum (ETH/USD).

 

Bitcoin & Ethereum

Looking at the chart of Bitcoin (BTC/USD), it is still staying nicely within the uptrend channel, with a nice ascending triangle building up for more bullish pressure.

It is very likely that it will break new highs this weekend.

 

Bitcoin & Ethereum 2

Looking at the chart of Ethereum (ETH/USD), it is possibly even more bullish than Bitcoin, after a breakout of a ascending triangle, a pullback to test the breakout, which also formed a bull flag.

That is already a confluence of 3 bullish factors.

Needless to say, I will be holding on to this as well.

 

Market Summary

In this post, I have covered many markets, and the key things to note are:

  • Bullishness of the stock market
  • Long-term bearishness of Crude Oil
  • Potential bullish reversal of the USD
  • Bearishness of JPY & GPY
  • Bullishness of USD & CHF
  • Bullishness of cryptocurrencies

Now that I have shared my views on the various markets, what do you think is the best investment at this point of time?

Let me know in the comments below!