Each month The Block Research hosts an analyst call reviewing the most important topics from the month prior. This month Lars Hoffmann takes a look at January by the numbers. Ryan Todd shares insights from MicroStrategy’s historic Bitcoin Summit. Mika Honkasalo discusses Cosmos IBC and arguments for application-specific chains.
2021 here we come. This week officially marks my second full year at The Block, and in terms of writing the weekly Interchange column, I’m closing in on issue #80. A big focus for this column this year was to address developments that bleed across crypto, capital markets, and broader fintech; exploring in […]
In the first research piece of this series, ‘2020 Macro Overview: Traditional & Digital Asset Market Behavior, Part I,’ we provided evidence of Pre-COVID-19 economic deterioration and financial system stress, arguing that the pandemic likely exacerbated a recession that was already on the horizon. Further, we made the case that short-term funding pressure in the […]
In our previous research piece,‘2020 Macro Overview: Traditional & Digital Asset Market Behavior, Part I,’ we provided evidence of Pre-Covid19 economic deterioration & financial system stress, arguing that the pandemic likely exacerbated a recession that was already on the horizon. Further, we made the case that traditional financial system stress likely contributed to the cryptocurrency market […]
2020 has been a tumultuous year, to say the least. Our world currently finds itself battling both the COVID-19 pandemic and a major ongoing global economic crisis that is a byproduct of human behavioral reactions. The COVID-19 virus itself is outside of our area of expertise, so we will not even attempt to speculate on […]
Bitcoin still remains correlated to equities but data shows that the correlation only spikes up following bad macro performance and then completely disappears when the macro environment performs well. Bloody March The U.S. stock market suffered the sharpest decline in its history in March, as the world grappled with the fallout of the coronavirus pandemic. […]
Based on several indicators, mass adoption is still far away from materializing. In terms of the number of users, the market is still nowhere close to the turn of the year 2017. However, the market structure has matured drastically in the last couple of years and the space is now much more institutionalized.
Remember when bitcoin was perceived as an uncorrelated asset? It’s easy to miss with everything going on, but the fact that bitcoin is still exhibiting historically elevated correlation to the S&P500 feels increasingly harder to dismiss. Sure, when the COVID crisis impacted the broad risk-off + treasury sell-off back in March, correlations across asset-classes spiked. […]
Cryptocurrency markets are unique because they are global and open 24/7, which introduces interesting dynamics. The regular trading session on the U.S. stock market is 6.5 hours a day — from 9:30 am until 4 pm. But the weekends and holidays are closed so there are normally 252 trading days a year, meaning that the stock market […]