Bitcoin Price and Fundamentals Analysis – 10/19/18 – E137

Top storyline: Tether, the rise of stablecoins, mining, ethereum proof of stake

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PRICES
  • Price: $6382
  • 1 finney: $0.64
  • $1: 15,545 sats
  • Daily 200 SMA: $7194 – really flat
  • Mayer Multiple: 0.89

Commentary

Tether was the overwhelming narrative this week. I remain staunchly in the solvent camp, and think tether is under a targeted attack from the banks that want to control this space.

The way that would work is the same argument people have been using against tether. If the stablecoin is fractionally reserved, they’d be able to pump liquidity in, and take it out at will. The KYC policies enable the banking interests to target individuals, and they can supply liquidity to the exchanges they want to manipulate. They can cause more market volatility and crashes.

FUTURES
  • Okex Futures: (Dec) $6345 | spread -$35
  • CME Futures: Oct $6380
  • Bitmex Futures: Dec $6365
SENTIMENT
  • Longs / Shorts: 20,000 / 34,000 (0.59) – Tied ATL

MINING

  • Difficulty: -3.65% See report
  • Mempool: 7d High: 18MB | Time: 12hrs to clear
  • Halvening: 83,557 blocks | 542 days | Apr.14.2020

Margins are being squeezed.


LIGHTNING

Capacity: 111 btc

Channels: 8,900

Nodes: 3,700

*default is for lightning nodes to be private

On google trends I did a little research and China is dominating searches for Lightning Network.


NEWS

Ethereum PoS upgrade on testnet Foobar

https://xbt.net/blog/ethereum-blog/ethereums-constantinople-fails-to-activate-on-testnet/

Miners don’t like it. Paused at the upgrade block.


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**DISCLAIMER: This is not investment advice, do your own research.**

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