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weekly-roundup

Bitcoin Network Demand Model Update

Bitcoin Network Demand Model Update

Week 23 2021 The Bitcoin Network Demand Model remains on a 2/6, with the price of bitcoin falling by 8% since we indicated the network had turned bearish last week. On-chain transaction value (TV$), shown in blue below, has continued to fall sharply and settled less than $5Bn per

The Bitcoin Network Slumps

The Bitcoin Network Slumps

ByteTree Market Health Update; Issue 79 ByteTree data collected on Saturday 29 May confirmed the ByteTree Network demand model had downgraded to a score of 2 out of 6. That means Bitcoin’s underlying network activity has slumped. I shall highlight a few major developments, but please see the Network

Bitcoin Network Demand Model Update

Bitcoin Network Demand Model Update

Week 22 2021 The Bitcoin Network Demand model drops to a 2/6 this week. This moves the model to “bearish” for the first time since early last year. Yesterday, the price closed below $37k as volatility remains above 108% The surge in BTC denominated transactions that occurred around last

Remember all that money leaving gold and into Bitcoin? It's heading back.

Remember all that money leaving gold and into Bitcoin? It's heading back.

ByteTree Market Health Update; Issue 78 The price of Bitcoin has recovered back to the $40,000 zone, having touched $30,000 last Wednesday. That was a day from hell, and the bounce will go down in the record books. I will update you on the key things to watch

Bitcoin Network Demand Model Update

Bitcoin Network Demand Model Update

Week 21 2021 The Bitcoin network demand model remains unchanged this week on a 4. The price of bitcoin closed yesterday at $38k after a turbulent week, which saw volatility rise sharply to 114%. The 11% fall in price sparked a surge in on-chain activity in BTC terms, reversing the

Where's the Bitcoin floor?

Where's the Bitcoin floor?

ByteTree Market Health Update; Issue 77 It has been a miserable month for Bitcoin, especially the last ten days. While these down days have been tough, the worst ones have been linked to events. Recent key events 18 May - China bans financial, payment institutions from cryptocurrency business. 18 May

Bitcoin Network Demand Model Update

Bitcoin Network Demand Model Update

Week 20 2021 The Bitcoin network demand model moves back to a 4 this week after a sharp increase in on-chain settlement value (TV$) moves short term spend back to ON. TV$ is up by 12% to 10. 7Bn per day, despite a 24% fall in the price of Bitcoin