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After profiting from the historic highs seen two weeks ago for the cryptocurrency market, the week ended yesterday for the Rivemont crypto fund was a modest but encouraging bull market recovery. However, all markets appear on high alert, awaiting the US Fed’s speech today.

Indeed, inflation is on everyone’s lips right now. How will the American financial authority respond to this? Everyone expects a gradual decrease in monthly bond purchases. However, it is the explanations on interest rates that will attract attention. Markets haven’t expected any increases until at least 2023 until now. This is also the position that Jerome Powell often repeats. But giant Golman Sachs predicts that this initial increase could come as quickly as July 2022. [l’assouplissement quantitatif] and low interest rates,” said strategist Matt Miskin. “But now here it shows you have to be careful what you wish for.”

Bitcoin had its best month of the year in October. As we often point out, the nature of the asset makes it an investment that can be rewarded in the event of persistent inflation. However, it goes without saying that, often acting as a riskier asset, bitcoin could also be temporarily shaken if traditional markets react negatively to the Fed announcements. If the conversation wants to be one more time pigeon, vice versa may also be true. In short, it would be surprising to see big price movements before this afternoon.

Whales, investors holding at least 1,000 BTC, bought 142,000 BTC last week, bringing the cumulative total to about 200,000 BTC – the highest figure in 2021, according to a market insights report released Tuesday by analytics firm Chainalysis. “A confirmation of the view that bitcoin is considered digital gold, or perhaps institutions are making a longer-term trade in bitcoin price,” Chainalysis said. Said.

important news from australia, Commonwealth Bank of Australia (CBA.AXannounced that it is ready to become the first traditional bank in the country to break the ranks of the industry, offering a platform to retail customers to trade cryptocurrencies. Australia’s biggest lender says it will partner with the New York stock market Gemini Trust Company LLC To offer “cryptocurrency exchange and custody service” with a new feature in the mobile banking application used by approximately 6.4 million customers.

Proof of the current enthusiasm for cryptocurrencies, the Coinbase app has regained the top of the list of most downloaded apps on iPhone in the United States. Application takes 5and rank.

Miami Mayor Francis Suarez, who was re-elected yesterday for a new term, announced that his next paycheck will be paid entirely in bitcoin. The latter announced last month that it wants to make the city an industrial hub and allow all municipal workers to receive their wages in crypto.

Also note that in Miami, the civil lawsuit between Ira Kleiman and Craig Wright began Monday. The staggering total of 1.1 million BTC at the center of the dispute. Since 2016, Wright has been calling himself Satoshi Nakamoto, the creator of Bitcoin. This lawsuit suggests that Wright did not act alone. According to Ira Kleiman, his late brother David, a computer scientist and longtime friend of Wright, was the co-creator of bitcoin and is currently entitled to a stake in a bitcoin portfolio valued at $66 billion. According to emails shown to the jury on Monday, Ira Kleiman alleges that her brother was solely responsible for extracting the entire stash of bitcoin in question. He accused Wright of defrauding them posthumously, combining forgery and deception about David’s property. Wright denies these allegations and claims that although David Kleiman was a friend and confidant, the two were never connected and that he alone was Satoshi Nakamoto. It goes without saying that the outcome of this case will be crucial, as such a bitcoin reserve has the potential to move markets strongly.

If the week was a rebound for bitcoin, it was even more rosy for Ether. Indeed, the token broke its all-time high yesterday as its rate against Bitcoin has started a strong recovery since mid-October. Investors in the Rivemont crypto fund have taken advantage of this, with about half of the capital currently being exposed to ETH.

The new price record coincides with an all-time high for Ethereum’s hash rate. This rate itself coincides with the announcement of the much anticipated Ethereum 2.0 upgrade and the drop in ETH supply. The boom of the non-tradable token market, with sales of over $2 billion recorded in the first half of 2021, is certainly helping this uptrend. Chicago Mercantile Exchange (CME) also announced yesterday that it will offer micro futures on Ethereum from December 6th. This will allow traders to trade much smaller than current Ether futures.

Michaël Van de Poppe provided a simple and straightforward Ether price forecast, posting the chart below that predicts an “impulse move” to $6,000-6,400 that could happen between November 2021 and January 2022.

A final perspective, offered by in-chain analyst Matthew Hyland, compares Ether’s price action in 2017 to the current market structure. Should history repeat itself, the token could reach around $14,000/coin.

PlanB, creator of the popular Stock-to-Flow model, has predicted Bitcoin’s end-October price (with a 3% margin of error) for the third consecutive month. However, in the next few weeks his model will actually be tested. Indeed, the latter now estimates the price to be above $98,000 by the end of November and over $135,000 by the end of the year. Despite the breadth of the subject, the latter seems more confident than ever against its model.

The technical picture remains fully bullish for bitcoin, which has tested its 30-day moving average twice in the past week. This is the level that should be maintained in the short term.

Finally, there is some good operational news from the fund. It has been ensured that the capital can be withdrawn from the Fund at the end of the month by giving ten working days notice instead of thirty days as before.

This article is brought to you by Fonds Rivemont. The Rivemont crypto fund is the first and only actively managed cryptocurrency fund in Canada. RRSP and TFSA compliant. Accredited investors can learn more here.

Disclaimer: This column does not necessarily reflect the opinion of CryptonewsFR and in no way constitutes investment advice or trading instructions.

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