March 18 – March 23, 2020 | COVID-19 Stimulus, Bitcoin Correlation, and More

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

Bitcoin Spikes as Fed Unveils Unlimited COVID-19 Stimulus Package

CoinDesk | March 23, 2020

The US Federal Reserve has announced that it is taking stronger actions to combat the economic impacts of COVID-19, which includes open-ended asset purchases and essentially “unlimited QE” to help support the flow of credit to businesses and households. Immediately after the Federal Reserve’s 12:00 UTC announcement, the price of bitcoin surged from $5,800 to $6,600 USD in less than one hour.

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Coinbase: Bitcoin’s Uncoupling from “Uncorrelated”

Coinbase | March 19, 2020

Despite bitcoin selling off last week alongside the S&P 500, new research conducted by the major cryptocurrency exchange Coinbase suggests that these recent bouts in positive correlation could be short-lived. According to Coinbase, “bitcoin’s historical correlation with the S&P 500 swings wildly between 1.00 and -1.00, seemingly positively correlated at times then negatively correlated during others”.

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What Does Bitcoin’s On-Chain Data Say About its Future?

CoinTelegraph| March 23, 2020

According to new research from Quantum Economics, a cryptoasset advisory and analysis firm, several key on-chain metrics are pointing towards the increased adoption and use of bitcoin, suggesting its price may see “brand new highs” as early as 2021. Within the research article, Quantum Economics analyzes on-chain addresses, transactions, unspent transaction output (UTXO) and blocks throughout bitcoin’s history to give us a glimpse into the future.

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Ex-Goldman Sachs Exec: Bitcoin Could See New All-Time Highs Within 18 Months

NewsBTC | March 22, 2020

Raoul Pal, the ex-head of Goldman Sachs’ equity derivatives business, believes that there’s a possibility that “all trust” in the “entire system” has been lost following the reveal of clear insecurities in the fabric of society, from politics to finance. In a recent interview, Pal remarked that he has “never been more bullish” on bitcoin, believing its price could set a new all-time within the next 12 to 18 months. “I’ve been in the business for 25 years and this makes the GFC [global financial crisis] look like child’s play.”

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NovaBlock: “We’re Gonna Need a Bigger Gun”

NovaBlock Capital | March 23, 2020

NovaBlock Capital, a New York-based digital asset investment firm, has noted in a recent newsletter that despite bitcoin’s steep price decline last week, the cryptocurrency is operating “exactly as designed”. Unlike public equities markets, bitcoin and the crypto markets have no market-wide circuit breakers, nor central planners to help dampen volatility, meaning we are seeing “a true free market in action”. Government intervention in public markets through the injection of new capital into the existing financial system could spell deeper problems for the future, allowing for a “new structural paradigm [to] rise out of the ashes”.

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Disclaimer

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

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

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.