Weekly Crypto Market Update w/ Josh Olszewicz

Valkyrie’s Portfolio Manager, Josh Olszewicz, discusses the latest developments in the cryptocurrency market. This is the October 05th, 2022 Midweek Market Update.

– Despite extreme volatility in the global Forex markets, Bitcoin and Ethereum have remined relatively stable throughout the same period
– On-chain activity has remained relatively flat over the past few weeks for most Digital Assets
– Although Bitcoin price has declined, Bitcoin’s hash rate, a proxy for network security, continues to increase
– Bitcoin’s Lightning Network also continues to grow, as measured by Bitcoin held on the Layer 2
– The on-chain cost basis for Bitcoin continues to hold below Bitcoin’s market cap, a historic bear market accumulation signal
– Trend technicals for most digital assets continue to lean bearish, although we may begin to see some minor relative outperformance in various alternative higher cap coins

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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.