March 11 – March 17, 2020 | Short-term Speculators, Derivative Liquidations, and More

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

Report: Bitcoin Sell-off Caused by Short-term Holders and Speculators

CoinMetrics | March 17, 2020

Last week, bitcoin suffered one of its largest one-day price declines in history. New reports have surfaced claiming that this decline was likely driven by short-term holders and speculators. According to on-chain data analyzed by Coinmetrics, a “vast-majority” of trading activity seen during the sell-off last week involved bitcoin that had been held less than 1-year.

Read the full report

Report: The Beauty of Creative Destruction for Bitcoin

Arca Research | March 16, 2020

Jeff Dorman, CFA notes that the sell-off last week in bitcoin shouldn’t be trivialized, but claims that its decline was something “beautiful”, as unlike equities markets which triggered several circuit breakers last week, there were no circuit breakers to stop the declines in crypto. The snap-back rally in Friday’s equities markets alone equated to $2-3 trillion USD in paper gains, dwarfing the entire industry size of digital assets which are still under $200 billion USD.

Read the full report

Bitcoin Derivatives and Liquidations Contributed to Last Week’s Decline

CoinDesk| March 12, 2020

Leveraged speculators found themselves in trouble last week, as the popular crypto retail trading platform BitMex reportedly triggered the largest amount of long/short liquidations in 16 months. As bitcoin fell from $7,200 to a low of $5,678, some $702 million USD was force-liquidated on the platform. The platform reportedly liquidated over 90% of all bullish positions in what was seen as a “crowded long trade” unwinding.

Read the full article

NVIDIA Asks GPU Crypto Miners to Help Combat Covid-19

CoinTelegraph | March 16, 2020

The major graphics processing unit (GPU) manufacturer NVIDIA has recently called on crypto miners to contribute to an initiative aimed at researching COVID-19 and other serious diseases. Using “Folding@home”, GPU miners can remotely dedicate their computing power and pool their resources with other enterprises and individuals to help simulate “protein folding, computational drug design, and other types of molecular dynamics”.

Read the full article

The Windfall Game: Stocks, Gold, Cash or Bitcoin

XSquared Ventures | March 2020

A comprehensive survey conducted in February 2020 by Hotspex, Brad Mills, and Xsquared Ventures has been completed, highlighting what the general public thinks about bitcoin. The “Windfall Game” survey was inspired by Ron Paul’s Twitter poll that has been running annually since 2017, which asks “what form” of value would you take a gift of $10,000 dollars in, if you can’t touch it for 10 years. While bitcoin has won that poll three years running, the results from the new survey are also positive for bitcoin. According to the survey, 38.4% of respondents chose bitcoin as the form of value they would like to receive the $10,000 in. Interestingly, the survey also found that respondents from the “wealthy” demographic were more inclined to choose bitcoin over those in middle or low income classes.

View survey results

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This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye


Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.