House View – August 2023

In the latest edition of the Crypto Finance House View, we cover the following topics:

Market Review & Outlook

Major asset managers have filed for Bitcoin ETFs in the US, while FTX’s restructuring process post-bankruptcy might see recovery rates exceeding 100%. Despite range-bound performance over the last month, we remain constructive on our medium- to long-term outlook given an improving regulatory environment outside of the US. Within the US, we expect regulatory uncertainty to remain the
major headwind but improving relative to late 2022.

By Friedrich Herzog

Crypto Finance Cycle Indicator for Bitcoin

The Crypto Finance Bitcoin Cycle Indicator is designed to give guidance on where we stand in a bitcoin cycle. Its purpose is not to give price predictions but to serve as a tool to assess the current phase of the cycle. This month’s reading is still on the
same level as last month and continues to point to an ongoing recovery in the cycle. Despite the aggregate indicator’s stability, some sub-category indicators have fluctuated somewhat from their most recent reading.
By Crypto Finance Asset Management team

Technical Analysis

BTC/USD, currently trading at USD 29,000, has consolidated sideways since the last update. The horizontal resistance zone at USD 31,000-32,000 has proven to be stubborn. The big picture has not changed: a price projection derived from the inverse head and shoulders pattern is still an indication that the USD 35,000 level is a potential target. The long-term RSI model triggered a long signal on June 30, 2023, again. RSI levels are at 55.8 (last week’s close) and have traded above 53 since initiation of the long signal. The relative strength of ETH vs. BTC has continued. The charts still favour BTC vs. ETH.

By Michael Zbinden 

Blockchain’s Impact on Asset Management

In this interview, Hansjörg Hettich, Executive Director of the Multichain Asset Managers Association (MAMA), and an expert in both blockchain and asset management, explains how blockchain technology has changed his perspective on traditional asset management. He discusses current issues and how technology can
address them, covering the potential impact of blockchain on different types of assets, the role of intermediaries, regulation, and artificial intelligence.

Interview conducted by Lukas Jelk

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All information in this document is provided for general information purposes only and with no warranty or liability for accuracy, completeness, or fitness for a particular purpose. No information provided in this document constitutes or is intended as investment advice. This document is not, and is not intended as, an offer, recommendation, or solicitation to invest in financial instruments including crypto assets. Crypto Finance is a financial group supervised by the Swiss Financial Market Supervisory Authority FINMA on a consolidated basis with Crypto Finance AG as a securities firm and Crypto Finance (Asset Management) AG as an asset manager for collective investments with the corresponding FINMA licenses. This document and its content including any brand names, logos, designs, and trademarks, and all related rights, are the property of the Crypto Finance Group and Deutsche Börse Group. They may not be reproduced or reused without their prior consent.

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