Welcome to the Friday edition of the Ecoinometrics newsletter. Every week we bring you the three most important charts on the topics of macroeconomics, Bitcoin and digital assets. Today we'll cover:
Each topic comes with a small explanation and one big chart. So let’s dive in. In case you missed it, here are the other topics we covered this week:
If you aren’t subscribed yet, hit the subscribe button, to receive this email every week directly in your inbox: Large inflows for the Bitcoin ETFsThe rate at which the ETFs are acquiring Bitcoins. That's the number one thing I'm looking out to gauge where the market is going. It is going in the right direction. Another week, another week of net positive inflows. If it continues like that, price will follow.
NVIDIA: no diminishing returns
That's what I hear every time I bring the fact that Bitcoin can totally deliver parabolic growth in this bull market. Basically the argument is that all assets are subject to a law of diminishing returns. The larger the market cap of an asset the slower it grows. Some people think this is part of the laws of physics or something. I disagree. I disagree because we have plenty of counterexamples. This week I bring you another one: Nvidia. If NVIDIA can grow like that, starting from a trillion dollar market cap, there is no reason Bitcoin can't do the same. There is no such thing as diminishing returns, there is only assets with small markets. Bitcoin isn't one of those.
The end of quantitative tightening in EuropeQuantitative tightening is dead in Europe. The ECB started cutting rates this month. A modest 0.25% for sure, but the important point is that it's setting the trend. Inflation in the Eurozone is stuck in the 2.3% to 2.9% range. It has been like that since November last year. The ECB is paying lip service to the fact that they are still committed to fight inflation but let's face it they are accepting that as the new normal. That has to make you question what the Federal Reserve is going to do in the US.
That’s it for today. I hope you enjoyed this. We’ll be back next week with more charts. Cheers, Nick P.S. We spend the entire week, countless hours really, doing research, exploring data, surveying emerging trends, looking at charts and making infographics. Our objective? Deliver to you the most important insights in macroeconomics, Bitcoin and digital assets. Armed with those insights you can make better investment decisions. Are you a serious investor? Do you want to get the big picture to get on the big trades? Then click on the button below. You're currently a free subscriber to Ecoinometrics. For the full experience, upgrade your subscription.
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Friday, June 7, 2024
Large inflows for the Bitcoin ETFs
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