Bitcoin has followed risk assets and anti-US Dollar trades higher since the FED intervened in March. In early July we were projecting targets towards 12’- 13’000. These have now been achieved. As risk assets probably continue to rise for another month or so, along with EUR/USD and Gold, Bitcoin should follow and could top 14’000, perhaps 15’000 until then. It should then retrace during early/mid Q4. Among the Cryptos, Ethereum has outperformed Bitcoin massively this year. It appears to be the high beta/growth trade, probably due to the strong growth in decentralized finance initiatives. This outperformance probably also continues into late Q3