Valkyrie’s Head of Research, Josh Olszewicz, discusses the latest developments in the cryptocurrency market. This is the April 26th, 2022 Midweek Market Update.
Key Takeaways:
– On-chain activity for BTC and ETH, including transactions per day and on-chain addresses per day, continues within their respective ranges
– Hash rate for BTC and ETH continues to surpass all-time highs week-over-week
– ETH’s hash rate has begun slowing as the protocol approaches the Proof-of-Work to Proof-of-Stake transition
– BTC and ETH price correlation to the Nasdaq remains as strong as ever, inverse correlations to the VIX, DXY, and the U.S. 30-year treasury yield also hold strong
– Thanks to Elon Musk’s acquisition of Twitter and earnings reports for several companies, intra-week tradfi volatility has increased, which has partially spilled over into crypto
– Since the beginning of the year, BTC volatility has continued to contract on high time frames, indicating potential upcoming volatility expansion within the next few weeks
#Crypto #Cryptocurrency #Bitcoin #Ethereum #Midweekupdate
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DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.
17 Comments
First! (While doing the robot)
I only want to give him a try but surprised me beyond my expectation thank you sir for the $ 15,000 as a profit,
Second, I suck at life @ winnerintraining beat me!
First? Great content, as always!
Hearing most market commentators lean bearish, makes me think now is a good time to accumulate while retail traders with weak hands dump to avoid a crash that never comes.
Thanks for the update, Josh.
☝️l’m humble and appreciative of all you🔝’ ve don for my son school bills…really did went a long way you are the best💰💰
☝️l’m humble and appreciative of all you🔝’ ve don for my son school bills…really did went a long way you are the best💰💰
If this is your 1st time viewing Josh then stay with it. Look up his past vid publications, there are solid quality learning vids since 2019.
< I totally agree with what you are saying….The fact is, BTC is the future of crypto and the questions traders ask themselves now if this is right time to invest? before jumping into conclusion i think you should take a look at things first. for the past few days the price of BTC has been fluctuating which means the market is currently unstable and you cant tell if it is going bearish or bullish. while others still continue to trade without the fear of making lose, others are being patient. it all depends on the pattern with which you trade and also the source of your signals. i would say trading has been going smoothly for me, i started with 2.5 BTC and i have accumulated over 11.6 BTC in just three weeks, with the trading strategy given to me by expert trader Bruce Clayton…
Intoxicating voice.
Well, being more and more correlated to Tradfi we have a world of pain coming our way. Last friday of the month, the first landing on a sunday and the "sell in May, then go away" narrative. There are some bloody months ahead imo 👍
Josh always king
the intro sounds like a ribs and steaks channel lol
Would really appreciate if you could analyze the DXY chart on your next market update
Thank you!
Great analysis Josh, like always 👏