James Bennett

Week 28 2021 The Network Demand Model remains OFF this week, with price closing yesterday at $34,258. The price has been trading in a narrowing range between $32k - $36k over the last three weeks, as volatility falls back towards 90%. Starting with short term TV$, there has been

Week 27 2021 The Network demand model remains fully OFF this week, as price closed yesterday at $35,308. The Network Demand model remains in cash after selling bitcoin when the model moved to a 2/6 on 2nd June at $36,706. On-chain transaction value has continued to fall

Week 26 2021 The Network Demand Model remains fully OFF this week, as price closed yesterday at $34,652. The Network Demand model remains in cash after selling bitcoin when the model moved to a 2/6 on 2nd June at $36,706. On-chain transaction value has stabilised, currently transferring

Week 25 2021 The Network demand model remains fully “OFF” this week, as price returns to the $33k level. In last week’s update, we noted that the price bouncing to $40k was likely a short-term response to Musk and MicroStrategy. Our view was that the underlying strength of the

Week 24 2021 The Bitcoin network model moves to a “Full bear” this week with all indicators now “OFF”. Price has bounced from $33k to the $40k level as volatility has continues to rise to 112%. We view this as a short-term response triggered by Elon Musk’s encouraging words

Week 23 2021 The Bitcoin Network Demand Model remains on a 2/6, with the price of bitcoin falling by 8% since we indicated the network had turned bearish last week. On-chain transaction value (TV$), shown in blue below, has continued to fall sharply and settled less than $5Bn per