Rainbows, Log Charts, and S2F: Bitcoin’s 2022 Bear Market Has Broken the Community’s Most Popular Price Models

The 2022 bear market has been brutal as more than $2 trillion in value has been wiped away from the crypto economy. In addition to record values lost, the crypto winter has managed to break a number of popular bitcoin price models like the rainbow price chart and Plan B’s infamous stock-to-flow model. Moreover, since May 11, 2022, the well known power-law corridor model or logarithmic growth curves chart has also broken, and it’s deviated below the lower band for roughly 86 days. A Deviation From the Norm: 2022’s Bitcoin…

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US Personal Consumption Expenditures Tap Record Highs, Stanford Economist Says Fed Should Increase Rates Above 9%

On July 29, the U.S. Bureau of Economic Analysis reported on America’s personal consumption expenditures (PCE) price index for the month of June, and the figure saw the largest 12-month increase since 1982. On the same day, Stanford University’s senior fellow at the Hoover Institution and professor of economics, John Cochrane, said the Federal Reserve should increase rates above 9% to tame inflation. PCE Price Index Increased 4.8 Percent From One Year Ago The U.S. economy continues to look gloomy every time a new economic report or data is released…

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As The Merge Gets Closer, Ethereum’s Hashrate Dropped Over 26% Since the Network’s All-Time High 45 Days Ago

While a tentative date for The Merge has been pencilled in by developers, and even though it’s quite possible it could be delayed once again, Ethereum’s hashrate has dropped 26.26% during the last 45 days. 18.21% of the hashrate loss took place after June 30, as Ethereum’s global hashrate slipped from 1,190 terahash per second (TH/s) to today’s 973.27 TH/s. While Ethereum’s hashrate decreased, Ethereum Classic’s hashrate spiked 12.07% higher during the last two days, but the added terahash was way less than the hashrate that left Ethereum during the…

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Bitcoin ETFs and Open Interest From BTC Futures, Options Follow Crypto Economy’s Spot Market Decline

Roughly 247 days ago, the total bitcoin futures open interest across 12 different cryptocurrency derivatives trading platforms was $26.73 billion and over the last eight months, bitcoin futures open interest has dropped 60% down to $10.69 billion. Further, the bitcoin exchange-traded funds BITO and BTF have followed bitcoin’s spot market losses, as the bitcoin ETFs have shed between 70% and more than 73% in value since last year’s price highs. Bitcoin Exchange Traded Funds Slide Over 70% in Value Against the US Dollar On November 10, 2021, the crypto economy’s…

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An In-Depth Look at Satoshi Island — A Crypto-Centric Residential Community in Vanuatu Where Land Titles Are NFTs

According to reports, there’s a 32 million square-foot island located in Vanuatu that’s in the midst of being constructed into a crypto-centric residential community by the island’s owners: Satoshi Island Holdings Limited. So far, more than 50,000 individuals have applied to live on Satoshi Island, and land rights will be minted in the form of non-fungible token (NFT) assets. After Construction Completes, Satoshi Island Aims to Be the ‘Crypto Capital of the World’ There’s an island located in Vanuatu, between Australia and Fiji, that’s currently being transformed into an island…

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81.79 ‘Sleeping Bitcoin’ From 2011 Worth $3.6M Moved for the First Time in Over a Decade

As bitcoin has increased more than 5% in value against the U.S. dollar during the last week, in less than seven days, the 19,000,000th bitcoin will be mined into existence. Meanwhile, on Sunday morning, 81.79 bitcoin worth $3.65 million today and created in 2011, moved for the first time since sitting idle for more than 11 years. ‘Sleeping Bitcoin’ That Sat for Over a Decade Moved on Sunday, Data Shows 14 Spends from 2011 Occurred This Year On Sunday, March 27, 2022, the price of bitcoin (BTC) has increased 5.8%…

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