Daily Crypto NewsEDITION #71, 07 November 2020

Hype is on the way!

Hey #Moni Maker ✋

Today in 1929, the Museum of Modern Art in New York City was opened to the public. It is rightfully considered to be the largest and most influential museum of contemporary art in the world. And while we are waiting for crypto entusiasts' art pieces (including various NFTs) to appear there, let's see what another crypto day has brought us!

Let’s go!

Despite Bitcoin's growth above $15,000, which didn't happen for almost three years, interest in Bitcoin doesn't go above its usual level. Regarding the maximum values for the "Bitcoin" search query, Google Trends estimates the current interest at 13 points.

In other words, new investors aren't yet even remotely demonstrating the 2017 levels of interest. 

So what?

So, investors, will you buy BTC at ATHs again and whine about the market fall for another 2-3 years? 

If you know any investors, point them at MoniTalks. He'll get up to speed and you'll get appreciation! Good deal!

Bitcoin tested RSI backtest zone 59 as in 2012 and 2016. Usually, after that, we had awe-inspiring growth. 

So what?

Wow! Should we prepare for the bull run?! *Rushing to remember passwords from all our BTC wallets *

Grayscale Investments, a digital asset management company, regularly continues to increase investments in BTC (see the chart above). Currently, 481,711 BTC worth approximately $6.8 billion is located in Grayscale Bitcoin Trust (GBTC). 

According to analysts' forecasts, by the end of 2020, it will have at least 500,000 BTCs under management. So Grayscale will control about 2.7% of the total market supply of the cryptocurrency. And by the end of 2021, the number may grow to 926,600 BTC - 5% of the total market supply.

So what?

If we were to try and predict the future... in five years, Forbes, based on the blockchain, will make a list of companies depending on their BTC exposure. 

Well, we'll praise them for that, right? 

Thank you for reading! Have a nice weekend, see you Monday! 😉

— The capitalization of all stablecoins has exceeded $22 billion.