Archive - Money or Debt Newsletter

Approximate Entropy of Bitcoin

Indicates strong trend predictability and also a maturing market

Jun 28 •

Stephen Perrenod

Does Difficulty Lead Bitcoin Price?

For over a decade, but not of late

Jun 11 •

Stephen Perrenod

May 2025

Bitcoin’s Wealth Distribution

Not really a power law of wealth, yet

May 20 •

Stephen Perrenod

No Bubbles, No Power Law?

The bubbles helped lock it in, but they are fading with time

May 5 •

Stephen Perrenod

April 2025

Global Liquidity as a Driver of Bitcoin

Bitcoin is a power law of liquidity; Liquidity growth kicks off bubbles

Apr 10 •

Stephen Perrenod

Bitcoin is the Best Asset Class

Kelly Criterion suggests a 75% portfolio allocation

Apr 1 •

Stephen Perrenod

March 2025

February 2025

Bitcoin’s Strong Persistence

Hurst Exponent Analysis Reveals Strong Trending Nature

Feb 26 •

Stephen Perrenod

Bitcoin is Two-Phased

A Core Power Law phase (Steady) and a Bubble phase (Turbulent)

Feb 13 •

Stephen Perrenod

January 2025

Bitcoin vs. Gold has Two Phases

Lower volatility 'laminar' phase and Higher volatility 'turbulent' phase, as seen in fluid flow

Jan 27 •

Stephen Perrenod

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