Daily Crypto NewsEDITION #64, 29 October 2020

HODL kills Software!

Hey #Moni Maker ✋

Today, eight years ago, Microsoft introduced Windows Phone 8 mobile OS. Frankly speaking, Windows Phone turned out to be the shitcoin of mobile operating systems. But unlike buying an "unfortunate phone", investing in alternative cryptocurrencies can cause significant damage. That's why it's important to keep a close eye on the market and always keep up with the latest news.

Let’s go!

For the last 3.5 years, Microstrategy has earned $78 million from its commercial activities (mainly analytical software development).

At the same time, Microstrategy has earned about $100 million in the last two months since purchasing Bitcoin. The $425 million invested in Bitcoin turned into $525 million.

So what?

Bitcoin will become not even a trend, but a necessity among private companies CEOs. In a bag of necessary business accessories, you will need to put your smartphone with the installed cryptocurrency wallet; otherwise, people will not take you seriously.

The last two months of the post-halving schedule of Bitcoin 2020 correlated very strongly with the schedule of 2016.

At this stage in 2016, BTC was worth $895, and a year later, it grew 20-fold!

So what?

Let bygones be bygones, but the history is still cyclical.

A new report of analytical company CoinMetrics says that Bitcoin has grown since the March collapse in parameters that were not present during previous growth periods. And this time, the fundamental onchain metrics show that Bitcoin is ready for the largest breakthrough in history.

Among the growth factors, analysts note:

– Correlations changes of Bitcoin with gold and the dollar. BTC's correlation with gold has been near all-time highs, while its correlation with the dollar has been at all-time lows.

– Recent investments in BTC by public companies, such as MicroStrategy and Square;

– Continued outflow of BTC from centralized exchanges. Usually, this is due to the desire of users to self-custody BTC, focusing on the long-term perspective;

– Increasing the number of long-term holdings, which confirms its perception as a means of preserving capital on an equal footing with gold;

– Decrease of emission after May halving with steady price growth.

The average commission per transaction in the Bitcoin network increased from $3.5 to $10. This is most likely due to the active price growth in recent days.

In this regard, the miners' income has also increased. According to Glassnode, 22.25% of BTC miners' income now comes from fees, and the remaining 77.75% - are the result of block rewards.

The share of income from transaction fees is now the highest since January 2018.

So what?

Well, witnesses of the 2017-2018 fees ($100-200) will not be afraid of these f*cking $10 :D BTC is growing! God save BTC!

— OKEx representatives made a page for operational updates on the withdrawal situation.