Charlie Erith

Week 35 2021 The Network Demand model remains at 0/6. The long-term transaction signal is showing signs of resolving to a positive reading. However, the short-term signal shows worrying signs of renewed weakness, indicating that we may have longer to wait than thought without a material improvement in on-chain

Week 34 2021 The Network Demand Model closed the week on 0/6, down from 1/6. The short-term transaction value metric has turned off, which is surprising given that this is a price-driven indicator, and we have seen such a substantial price bounce. It suggests that “buying and holding”

Week 33 2021 The Network Demand Model remains at 1/6, with the sole positive signal being short-term transactions. Remarkably, even this metric has started to weaken again and it’s possible we could be back to 0/6 shortly. Short-term transaction signal The better news is that Fees have

Week 32 2021 No change this week as the strategy remains on 1/6. The short-term “spend” indicator continues to strengthen, suggesting that the longer-term indicator will duly follow suit, albeit that could be a month away from here. Meanwhile, the best that can be said for the fee-based signals

Week 31 2021 During the week, the model’s short-term transaction value indicator turned back on. Despite that and a recent improvement in on-chain activity, the Network Demand model overall remains OFF, scoring 1/6. Over the last week there has been a sudden burst in activity, consistent with the

Week 30 2021 The Network Demand Model remains OFF this week, with the score remaining at 0/6. While the price of bitcoin has bounced sharply from the week’s lows of US$29,790.20 to close at US$35,226.95 on 25/7/21, the price action