Golden Observation丨Forbes: Encrypted wallet data shows that Bitcoin is in the "calf" stage

Golden Finance Blockchain, August 26 News Since the rise at the end of July, Bitcoin does not seem to have many amazing performances in August. In the past few weeks, the price of Bitcoin has been repeatedly trying to break through the $12,000 resistance level, and the current price range is basically stuck around $11,800.

Now, with the Federal Reserve’s unprecedented relief and monetary easing due to the coronavirus outbreak, many high-profile investors are turning to Bitcoin, including Coinbase, Blockchain Wallet, Crypto.com, BRD, and Binance Downloads of wallet apps also hit an all-time high in July. According to the evaluation of Forbes magazine, this trend means that Bitcoin has come to the beginning of another bull market.

Golden Evening News | List of important events on the evening of November 29: 12:00-21:00 Keywords: Michelle Ice City, Invesco Invesco, WisdomTree, Metaverse trademark

1. Michelle Ice City has applied for several Metaverse trademarks;

2. Indian Finance Minister: There is no proposal to recognize Bitcoin as a currency;

3. Invesco launched a Bitcoin ETP with spot support;

4. The Standing Committee of the Shanghai Municipal People's Congress: Support Pudong New Area to innovate and integrate blockchain and other technologies;

5. Asset management company WisdomTree has launched three cryptocurrency ETPs in Europe;

6. Thought Machine, a cloud banking start-up, completed a financing of US$200 million, led by Nyca Partners;

7. TrendForce: The Industrial Metaverse will drive the global smart manufacturing market to reach US$540 billion by 2025. [2021/11/29 12:39:29]

According to the latest research data from the application data website Apptopia, the net new installations of the top ten cryptocurrency wallet applications in July 2020 increased by about 81% year-on-year. The company's analyst Madeline Lenahan (Madeline Lenahan) wrote in the analysis article:

Golden hot search-ethexc list: LINA tops the list: According to the Golden Finance ranking data, in the past 24 hours, the search-ethexc volume of LINA topped the list. The specific top five list is as follows: LINA, AE, WAVES, NEO, ZT. [2021/5/4 21:22:58]

"Since the outbreak of the new crown virus, due to the implementation of the city closure order in the United States, we have noticed that the number of new installations of some cryptocurrency wallet applications has increased. Although the market has shown a certain degree of instability, we actually see The growth achieved is real and lasting."

Indeed, stay-at-home orders in many countries due to the coronavirus pandemic, coupled with the growing popularity of bitcoin and other cryptocurrency applications in emerging markets, have all contributed to the growth in downloads of bitcoin wallets and crypto wallets. At the end of July, the price of Bitcoin soared and reached its highest level since June 2019, which triggered a boom in Bitcoin retail transactions, and the trading volume of many cryptocurrency exchanges around the world also showed an increasing trend.

Golden Finance live report Jimmy Song, a core contributor to Bitcoin, bad-mouthing enterprise solutions: Golden Finance live report, at the Coindesk 2018 Consensus Conference today, after Amber Baldet, head of the JPMorgan Chase Blockchain Center of Excellence, introduced the public-private hybrid project Clovyr, Jimmy Song, a Bitcoin Core contributor and Blockchain Capital venture partner, said he thinks in five years time most projects in the enterprise solutions space will be nothing. [2018/5/15]

In addition, institutional investors and retail investors have also "suddenly" become interested in Bitcoin, and some believe that the current market performance is very similar to the "big bull market" in 2017. Among institutional investors, Grayscale Investments has attracted particular attention. Recently, more than 20 institutions have submitted last quarter revenue documents to the US Securities and Exchange Commission (SEC). The documents show that they all invested in the Bitcoin Trust (GBTC) under Grayscale Investments. These institutional investors include:

Jinse Finance live report, HOWARD GUO: Blockchain allows value to be transmitted on the network: At the 2018 World Digital Asset Summit (WDAS) and FBG Annual Conference, HOWARD GUO from Dekrypt Capital said that the network in the 1980s was calculated through functions , Encryption requires password proof, closed network, all networks are online, and the number of nodes is very small; after 2010, the emergence of blockchain blockchain allows value to be transmitted through blockchain, and then it can enter the open network, and nodes can also Online or offline, there is no need for large-scale interaction, just submit the proof to the ledger. [2018/5/2]

1. Ark Invest, which manages $4.5 billion

2. Established investment companies such as Horizon Kinetic, which manages assets of 5.3 billion US dollars

3. In addition, new investment companies such as Rothschild and Addison Capital also participated in the investment.

In this regard, cryptocurrency analyst Yassine Elmandjra said that although it is difficult to figure out who has entered encryption one by one, these investment agents can partially measure the size of institutional investment. Meanwhile, if the SEC raises the threshold for reporting funds from $100 million to $3.5 billion, the vast majority of institutional investors who file will no longer be required to declare funds. Among the information related to the Bitcoin Trust GBTC disclosed by a total of 27 companies, only 9 funds have investment plans exceeding US$3.5 billion, and these 9 funds are managed by 3 companies. This means that the diversity in the space will largely disappear, and small institutional investors who are just starting to experiment with Bitcoin assets will not be known.

In early August, Grayscale Investment announced that its Ethereum Trust (OTCQX: ETHE) publicly submitted a Form 10 registration application to the US Securities and Exchange Commission (SEC). It is reported that this application is a voluntary submission by Grayscale Investment, so it is subject to review by the US Securities and Exchange Commission. Fang Trust will become the second digital currency investment vehicle after the Bitcoin Trust, and this digital currency tool has obtained the status of a reporting company from the US Securities and Exchange Commission. If the Grayscale registration statement becomes effective, qualified investors who purchase private equity will have an earlier opportunity to obtain liquidity in accordance with Article 144 of the Securities Exchange Act, and the statutory holding period for private equity will be shortened from 12 months to 6 months, but Grayscale Investments needs to submit quarterly and annual reports in accordance with the standards of the US Securities and Exchange Commission. If Grayscale Ethereum Trust successfully registers with the US Securities and Exchange Commission, it will undoubtedly attract more institutional investors.

The image above, from APPTOPIA, shows that many of the most popular bitcoin and cryptocurrency wallet apps are rapidly gaining popularity in recent times.

Cory Klippsten, tech investor and founder of bitcoin buying app Swan Bitcoin, explained:

“Bitcoin seems to be shining in a lot of macroeconomic context, which puts us in the early stages of another bull market in bitcoin. Newly listed bitcoin trading services like Coinfloor in the UK, Bitaroo in Australia, and Swan Bitcoin in the US Providers have seen a substantial increase in the number of new users."

Corley Cripston concluded by saying:

“No one can predict the future, but if the pattern of the four-year bitcoin market cycle continues, we will reach a peak sometime in late 2021. Every day more and more people invest in bitcoin, and the market becomes more and more optimistic about bitcoin.” With growing confidence, institutional investors have also bought more bitcoin.”

Part of this article is compiled from Forbes

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