Crypto & Blockchain Weekly Market Update
Phoenix Paradigm Indicator
In this weekly
> Weekly Stats — Phoenix Paradigm Indicator
> Weekly Highlight — Bitcoin Cash & Bitmain IPO
> Weekend Podcast —What the ETF?
PPI Weekly Stats
Crypto prices seem to be at a crossroad. Technical analysis suggest there may be some more volatility in the next few weeks. This week started sideways, but prices dropped down on Tuesday. Only to recover again in the following days.
Compared to last week, the PPI gained 4.09%.
Weekly Highlight — Bitcoin Cash & Bitmain IPO
Definitely one of the biggest news items this week was the release of the Bitmain IPO prospectus. It is the first time that people can get an inside look into the financial side of one the biggest crypto mining company’s in the world. With a reported profit of over 700 million in the first 2 quarters of this year it is poised to become a headline IPO.
A side effect of this announcement was the 25% price increase of Bitcoin Cash. It is widely knows Bitmain holds a lot of BCH, the hope is some of the capital raised by the IPO will be put towards the development of Bitcoin Cash.
Weekend Podcast — What the ETF?
This week we would like to bring your attention, one of the greatest producers of quality content in the scene. Anthony Pompliano, known on twitter as Pomp, did an interview with Gabor Gubacs, Director of Digital Asset Strategy at VanEck, on the bitcoin ETF that VanEck has in the works.
VanEck was the first to file a ETF for gold back in the 70’s. In the interview they discuss the difficulties they face and the similarities to the gold ETF.
Enjoy, and have a great weekend!
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